10 Overpriced Things We All Buy, But Should Actually Avoid
AL
Last updated 03/21/2024 by
Andrew LathamConsumers, that’s you and me, are naive and gullible creatures. We may think we have a sense of what is a fair price, but we are just playthings for marketing and advertising executives. You have to give them credit though when you think of the prices we are willing to pay for stuff we either don’t need or could find cheaper elsewhere.
Think you are immune to their pricing tricks? Check out these 10 items we are all dumb enough to buy.
1. Name Brand Drugs
![](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FPrescription-478x359.jpg&w=3840&q=75)
Unless, of course, your drug has a generic alternative, which according to the FDA can be 80 to 85% cheaper than the brand alternative. Many consumers will pay a higher price because they think the more expensive product will be of higher quality. However, FDA research shows that generic drugs work just as well as brand name drugs.
2. Bottled Water
![](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FBottled-Water-478x318.jpg&w=3840&q=75)
The fix is easy. Buy a reusable container and fill it with tap water. If you don’t like the taste of your tap water, buy a filtration system. It will pay for itself in no time.
3. Designer Eyeglasses
![](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FSunglasses-478x318.jpg&w=3840&q=75)
Save cash by checking whether your health insurance covers some of the cost, going for the non-designer frames and shopping online or at warehouse clubs.
4. Restaurant Sodas
![](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FSoda-Store-478x318.jpg&w=3840&q=75)
5. Wine/Champagne
![](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FWine-478x316.jpg&w=3840&q=75)
If you absolutely have to have wine or champagne with your meal, don’t buy it by the glass. You’ll end up paying four times as much. Look for a reasonably priced bottle of house wine on the menu and share it with the other drinkers at the table.
6. Hotel Minibars
![minibar](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2Fbedroom1-478x328.jpg&w=3840&q=75)
The solution is simple: leave your room and find somewhere nearby where locals go to buy their drinks and snacks.
7. Inkjet Ink
![ink](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FHP_Business_Inkjet_1200n_-_Continuous_Ink_System_-_Closeup1-478x358.jpg&w=3840&q=75)
Avoid printing as much as you can, use commercial printers and buy laser printers over inkjet printers. Even though laser printers are more expensive, toners are cheaper than ink cartridges and quickly pay for themselves.
8. Greeting Cards
![Greeting-cards](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2FGreeting-cards1-478x251.png&w=3840&q=75)
Instead of paying silly money for printed cards, make your own for just a few cents. If you have kids, make it a family art project. It will be much more personal and the recipient is much more likely to remember and appreciate the time you invested in the gesture.
9. Flowers
![flowers](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2F416304_rozy_krasnye_buket_cvety_lentochka_belyj-fon_1680x1050_www.GdeFon.ru_-478x298.jpg&w=3840&q=75)
You can save money by choosing flowers in season and comparing the prices of online retailers. In spring, look for birds of paradise, orchids, tulips and narcissus. In summer, Amaranthus, cockscombs, gladiolus and carnations can be found at a discount. In autumn, your better choices include chrysanthemums, sunflowers, roses and yarrows. Winter also has its seasonal flowers, such as pansies, daisies, evergreens and lilies.
Better yet, grow your own garden and you will eventually end up with a lifetime supply of beautiful flowers to give your loved ones.
10. Popcorn
![popcorn](/_next/image?url=https%3A%2F%2Fcdn-blog.supermoney.com%2Fwp-content%2Fuploads%2F2014%2F11%2Fpuyallup-movie-theater-478x317.jpg&w=3840&q=75)
The alternative is simple. Eat popcorn at home where you can get it practically for free and bring it easier to carry (i.e. smuggle) snacks, such as nuts, candy or fruit to the cinema.
Conclusion
It will probably never happen, but if enough people stopped paying the outrageous prices on some of these products, the blind forces of the free market would eventually readjust them to a more reasonable level.
However, the fact that there are some people willing to pay such extreme amounts, can also be a good thing for the consumers with enough sense not to. It’s the overpriced concessions at theaters that keep the movie tickets from rising any more than they already do. In many establishments, it’s the high-profit margins restaurants make on wine and soda that subsidizes the relatively low cost of the food that they serve. And it’s because pharmaceuticals make obscene amounts of money on brand drugs, that they are willing to sink so much cash in medical research without any guarantee of producing a marketable drug.
Photo Courtesy – Agnes Cecile
AL
Andrew is the Content Director for SuperMoney, a Certified Financial Planner®, and a Certified Personal Finance Counselor. He loves to geek out on financial data and translate it into actionable insights everyone can understand. His work is often cited by major publications and institutions, such as Forbes, U.S. News, Fox Business, SFGate, Realtor, Deloitte, and Business Insider.
Share this post: