Yahoo Finance Finance Influencer Erika Kullberg: 4 Things I Never Waste Money On
Financial expert and lawyer Erika Kullberg has taken her expertise in business, law, and finance and turned it into an online social media empire.
Not only does she share helpful tips to the public about how to not be taken advantage of by big companies and their little fine print, but she also gives insights on best practices for how to use your money in everyday situations.
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With over 21 million followers across various social media platforms, you might want to take note of Kullberg’s advice, especially when it comes to the four things she does not waste money on:
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4. High End Fashion
“One of the first things I stopped wasting money on was designer clothing items,” Kullberg told GOBankingRates.
“When I was younger, I was always working hard to buy the most trendy item, only to find that as soon as I bought it, it was no longer the fashion, and so I was always trying to keep up — and wasting my money in the process!”
Kullberg then explained when it comes to purchases, she always looks at the function of what she is buying.
“If it’s something that I’ll get a lot of use out of-like a really good vacuum cleaner — I’m more willing to spend a little more for something that will work well and last a long time. But if we’re talking about shoes or a handbag, where something cheaper works just as well I’m not willing to spend a lot,” she said.
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3. Extended Warranties
Kullberg also does not recommend purchasing extended warranties for things like electronic items.
“A lot of brands, Apple included, already come with at least a one-year warranty, and if you use a credit card for big ticket items, you often have purchase protection that way, as well,” noted Kullberg.
“Make sure you read the fine print on those items to see what’s already included.”
2. Name-Brand Groceries
“This one seems obvious, but I never buy name-brand items at the grocery store either,” Kullberg said.
“Many generic brands are made by the same companies as their brand-name counterparts,” she continued. “With medicines, look at the active ingredients, and you’ll often find that they are exactly the same as the brand names, but several dollars cheaper.
“All those little savings add up, especially with how prices are right now.”
1. Memberships and Subscriptions
“I also make sure to cut any memberships and subscriptions that I’m not actively using,” clarified Kullberg.
“A gym membership can be worth it if you go often, and it’s part of a routine — but if you only go a couple times a month, looking into free or cheaper at home options can be better for your budget.”
She continued, “The same goes for things like streaming and music subscriptions. I recommend reevaluating what you’re using and how often every couple of months to make the best budget decisions.”
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This article originally appeared on GOBankingRates.com: Finance Influencer Erika Kullberg: 4 Things I Never Waste Money On
