If there's one thing I've learned on my journey from being $300,000 in debt to becoming a self-made millionaire , it's this: I wasn't broke because I didn't make enough money at the time — I felt broke because I overspent on things that weren't aligned with my health and wealth goals .
Yes, I spend money on things I like. I love a good K-pop concert and a well-deserved vacation. But I also know that swapping unnecessary spending in some areas frees up money for things that truly matter, like investing , financial security and experiences that bring real joy .
Here are six points I believe Americans might consider spend far too much money on —that I also used to overindulge in! Instead, this is how I handle things nowadays.
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1. Bulk grocery shopping (that ends up in the trash)
Buying in bulk can save you money, but only if you actually eat everything you buy. Let's be real. How many times have you bought the mega pack of spinach only to throw half of it away a week later?
You're not getting a deal if you toss half of what you paid for in the garbage.
I now buy produce weekly because I found myself not being able to finish the bag of avocados or kiwis, even though they were cheaper per item at the bulk price.
When purchasing additional supplies for my pantry, I only get things that I will consume within the coming month, and I pay close attention to use-by dates.
2. Seasonal decorative home accessories
I get the urge to head to TJ Maxx and purchase a new wreath and some festive throw pillows for each holiday. However, rather than splurging on decor items that might quickly fall out of style, consider putting your money into classic, top-notch home basics. Then, refresh your space with minor, budget-friendly touches such as candles or fresh blooms.
I switch out photos and keepsakes from concerts in the picture frames periodically. various sections of my house To keep it feeling new, without needing to change with the seasons, I've received numerous praises for my revolving collection of Broadway playbills.
3. Children's toys
Many children get more entertainment from the box than from the actual toy. It’s not uncommon for parents to shell out hundreds, even thousands of dollars, on toys that end up being discarded by their kids after just a few weeks.
Simple is better. Switch out toys periodically rather than acquiring new ones, and value activities more than possessions.
If the children require toys, consider having family members contribute. Since I am an aunt with no children of my own, I'm glad to occasionally purchase toys for my nieces and nephews, allowing their parents to use that money for other necessities instead.
4. Footwear that adversely affects your foot health
I'm guilty of having bought multiple pairs of shoes that look amazing but felt like medieval torture devices. I stopped buying shoes that don't fit, don't support my feet or that I'll only wear once.
A few high-quality pairs of comfortable, well-made shoes will take you further, than a closet full of painful ones.
Shoes are a great item to apply the $1 rule: If a high-quality pair of shoes costs $100 and you can wear them 100 times, then I think it's a worthy splurge — more so than a pair of discount shoes you'll only wear a few times
5. High-end skincare products
The beauty industry convinces people they need a 12-step routine with $80 serums, when most of it is marketing hype.
I learned this the hard way when I got sucked into the K-beauty trend of buying all sorts of serums and masks, only to go back to my slightly less glamorous routine of pharmacy brand face wash and moisturizer.
Stick to simple, dermatologist-approved products that actually work. Your skin (and your wallet) will thank you.
6. Overpriced athleisure
My $15 warehouse leggings and free t-shirts are just as good as the $100 Lululemon ones. People love to justify expensive activewear by saying it motivates them to work out, but wearing a fancy outfit doesn't do push-ups for you.
Ironically, I've found that I have better workouts when I wear less expensive clothing because they tend to breathe better, since they're often looser and made of natural fiber than shiny material. When I wear the stuff I don't care that much about, I am more focused on the exercise itself, than how I look.
Buy workout gear for function, not fashion. Focus on quality and comfort over brand names.
Save more money by reprioritizing
Ultimately, I'm not saying it makes sense to give up everything fun or live like a monk. But if you want to build wealth, start questioning if these short-term dopamine hits are really saving you money in the long run.
Every dollar you don't waste is a dollar that you don't have to work for, whether that's growing your investments, paying off debt or funding a life that brings you a sense of peace.
Bernadette Joy is the author of " CRUSH Your Money Goals " and a personal finance expert and investor dedicated to helping you beat burnout and reach financial independence. You can find her on Instagram , YouTube and LinkedIn .
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