14 Worst Things Many People Overpay For

People spend more than they should every day. Sometimes, it’s little things like snacks or bottle sodas that cost twice as much at the convenience store. Other times, it’s big-ticket items like a new car with a steep annual percentage rate (APR).

Whatever it is, even the little things can add up. Worse, they’re usually not even worth the purchase, or the bite they take out of your budget.

Whether you’re trying to cut back on unnecessary spending or you just want to know what people spend way too much money on, you’re in the right place. Here are the 14 worst things people overpay for — and what they can do instead.

Prescription medications may be necessary, but you don’t always have to get the brand-name version. You can go generic to save money.

“Many consumers assume that prescription medications must be brand-name, when, in reality, the prescription is simply the dosage of the active ingredient. Generic versions of drugs are exact copies of the brand-name drug, containing all of the active ingredients,” said Erika Kullberg, an attorney, personal finance expert and founder of Erika.com.

“Many people do not realize that they are paying a large premium for fancy branding,” she continued. “Generics can be a fraction of the cost of even older formulations, and asking for the generic (instead of the ‘original’) can save a lot of money.”

Ask your doctor to give you the go-ahead before switching. Chances are they’ll give it.

“Sometimes, overpaying for an item is necessary when it’s something you really need. But those items are few and far between,” said Scott Lieberman, founder of Touchdown Money.

One such item is e-books. These usually cost a few dollars apiece, but why spend money when you can get them for free?

“Most libraries will let you download e-books for free,” Lieberman said. “Unless you’re looking for an obscure author, your local library will likely have you covered.”

Checking your credit report every now and again is a smart way of keeping track of your credit situation. It’s especially useful if you’re applying for a loan and want to make sure you qualify for the best rates.

But not all credit reports are free. Even the ones that claim to be often aren’t.

“These aren’t free, regardless of the commercials. You’re usually charged a processing fee, and your data could get put at risk to identity thieves,” said Lieberman. “If you want a truly free credit report, contact Experian, Equifax and TransUnion directly once a year for your rightfully entitled report.”

“A $0.99 app doesn’t seem like much, but these can really add up,” said Lieberman. “So can paying real money to unlock features. Be mindful of small spending.”

This goes for those little in-game purchases for mobile games, too. While $2 or $5 might not seem like much, if you find yourself charging your card or mobile wallet every other day, you’re definitely overpaying … and for what?

According to The Knot, the average wedding costs $35,000. The exact costs depend on factors like location, vendors, number of guests and so forth. And that’s not even accounting for the engagement ring, any special attire beyond the ceremony itself, or flights to and from the event.

Sure, you should have the wedding of your dreams. But it might not need to come with such a high price point. Adding a few DIY elements or getting creative in other ways can significantly lower costs.

Prescription medication isn’t the only thing you can get cheaper by switching to generic. The same goes for a lot of other everyday goods.

“Unless you really notice a difference in taste, texture or quality, don’t waste your money on brand names,” said Lieberman. “Most generic groceries and drugs are just as good for a lot less.”

“Buying pre-packaged, pre-cut, or single-serving items costs more than doing it yourself,” said Dana Ronald, a finance and tax expert with Tax Crisis Institute. “Taking the time to make meals from scratch or buying in bulk can save you money.”

Skip convenience store snacks and drinks, too. A $1 bottle of water from your local grocery store could easily cost $2.50 or more at a gas station. And those little bags of chips might seem cheap, but they’re also smaller and more full of air than what you’d get elsewhere.

“Extended warranties are one of the most common overspending areas,” said Kullberg. “These extended warranties usually offer limited additional benefits for their exorbitant costs, and, fortunately, most products don’t fail during the extended warranty period, anyway.”

So, if you’re faced with the option for an extended warranty on something like an electronic or a kitchen appliance, step back and ask yourself if you really need it. If you’re buying the item with a credit card — which you should definitely pay off in full before interest hits — you might even have an extended warranty through your card issuer.

Paying for cable TV just isn’t worth it these days, at least not if you’re paying for the high-end stuff.”

Cable TV is expensive, and many pay for channels they never watch,” said Rhett Stubbendeck, CEO and founder of Leverage Planning. “I cut the cord and switched to streaming services. This saved me over $100 a month and gave me more control over my viewing.”

Credit cards are both convenient and expensive. Yet, many people still spend money on annual or monthly fees for cards they hardly ever use. That’s just wasted money.

And this isn’t even accounting for high interest rates.

“Carrying a balance incurs high interest fees,” said Ronald. “Paying off your balance each month saves significant money in the long run.”

“Membership to a gym is another excessive expense, especially if it remains unused,” said Kullberg. “There are many people who sign up for fitness membership with good intentions but they end up not using it for a long time.”

A gym membership can easily cost $15 to over $100 a month. That’s quite a lot of money for something you aren’t even using. Stubbendeck said he switched to a home gym setup and used online resources and basic equipment to save more than $600 a year.

According to AAA, the average MSRP of a new car is $34,876. But when you tack on other fees like financing charges, depreciation and maintenance, you’re looking at spending $12,182 a year on average just to own and operate that vehicle.

Car owners can easily spend $300 to $700 or more a month on an auto loan. If this is something you absolutely must have, then by all means. But if it’s more of a luxury expense and you could have made do just fine with a cheaper model, you’re overpaying.

Fuel is already expensive, but premium gas is even more so.

“Unless your car specifically requires it, buying premium gas is usually an unnecessary expense,” said Ronald. “Regular gasoline works just fine for most cars.”

Eating out at a restaurant is fine every now and then, but it’s way too easy to overpay for things like drinks, appetizers and desserts — not to mention the main course.

“Dining out frequently can quickly add up,” said Ronald. “Cooking at home is more economical and often healthier.”