Things you should not spend your money on.

I have compiled a list and short explanation of why it is better to hold onto the cash than splash it.

It's totally subjective, and whatever I buy I try to work out if I really need it and if it has value in my life.

Here we go....

• A new phone.

The one you have in your pocket is most likely suitable for what you need it for. Device manufacturers have done a fine job in convincing you your current device is useless while actually offering nothing new.

• New books, especially if you have unread ones.

Books are expensive, buying them to read is fine, but they have to be read. No point stock piling a collection. Who are you trying to impress?

Used books are a great source of reading. eBooks are also good.

• Magazines and newspapers.

The internet exists now, so unless you have a very specific reason to buy a newspaper or magazine, then avoid it. It can all be had online and usually for free.

• Designer/Status Goods.

This type of luxury comes at a premium. The cost high does not always mean you will get better quality but it shows the immediate world around you your status. You are socially peacocking.

• PC/Laptop.

The one you have is fine. Get as much use out of it as possible. If it serves your needs then don't upgrade.

These are the same a phones, we are conditioned tot think our stuff is out of date and useless way before it's time.

• Coffee shop drinks.

Possibly one of the biggest scams around. Paying nearly £4 for a standard coffee.

The drink is over priced, my experience of the service is somewhat slow, and the ethics of some brands are questionable. Make your own in flask.

• Fast food and food delivery services.

The food is addictive and bad. The delivery is expensive. If you want fast food, getting it delivered will be slower.

• Mugs.

Look in your kitchen cupboards, behind every door will be mugs, Get rid of some.

• Single use items.

Pay once and use once is rarely going to be a good value or kind to our planet.

• Jewellery.

Pretty, shiny and heavily marked up. Lovely to have, expensive to own and not an investment. I'm not saying you should not have jewellery, just make sure you don'r excessively buy this stuff.

• Health supplements.

Eat clean. No need to buy powdered garbage.

• Subscriptions

Unless you use a subscription heavily then avoid paying for it. If you do have to subscribe, try paying up for a year or two in one lump sum. This takes out the monthly drip feed from your account. Only buy them if you need them.

• Free stuff.

You don't need money for free stuff, but you do need space to store it.

Space costs money and that pen, mug, side table or chair that was given to you, now takes up space. It's no longer free.

• Reusable bags.

You have a drawer or cupboard full of them already, organise yourself and take them with you before shopping, instead of forgetting to take them and buying more.

• Expensive haircuts.

I have been to some barbers and they have charged £26 for a haircut and beard trim. For a male I think that is expensive, however I have been to this barber more than once, I think I like the banter and the haircut.

I limit a visit to around four times a year to make sure I get the best value for money. i still thinkover £100 per year for haircuts is excessive.

• Impulse purchases.

See it, want it, bought it. Always a bad idea.

Think about it before buying it. Try to give yourself a day or so. After this period you will not want it.

• Insurance for items I can afford to replace.

Insurance, another super scam that modern society has duped us into thinking is worthwhile.

Where I live in the UK its law to have insurance for your vehicles, so there is no getting away with it.

I try to use the the approach that it I can afford to buy the item outright then insurance is not required.

For example I buy £200 washing machines, if it breaks then I can afford to buy another one, as annoying as it would be. I'm not going to insure it.

If my house burnt down, I could not afford tot replace that, so I will insure it.

• Taxis

Convenience comes at a cost, but with the likes of Uber using a supply and demand or dynamic pricing system, this means you will usually pay more for your journeys. Try to plan journeys with public transport, like buses or trains. Although a side note on this, in the the UK public transpoert is becoming relly expensive, train travel is over priced.

• Expensive perfume

Rose water with a high price tag, this is all profit. When celebrities start selling products with their name slapped on it, you know the profit margins are high. There are plenty of sensibly priced fragrances out there.

• Sale items

If an item £300 and it is on sale for £100, you are not saving £200, you are spending £100. Sale items are rarely the bargain you think they are. The whole process is designed to make you believe you are getting a good price.

• Convenience store

Everything in small chain convenience stores is usually highly priced. The worst offenders being shops within petrol filling stations.

• Charity shop purchases.

I love thrifting in charity shops, picking up bargains. However over the last few years I have found the prices increasing and with some items it was comparable to brand new. A lot of the bargains I once got are now syphoned out of the stores and put up online for auction to get the most money. I can understand why they do this but it has extracted the fun out of shopping in store. The stores are left with low value stock that isn't really that interesting.

There you have it, my thoughts on how to keep the money in your pocket.