By Brian New

Follow CBSDFW.COM: Facebook | Twitter

DALLAS (CBSDFW.COM) – Regardless of how much you make, overpaying can be a costly habit. Financial Consultant and President of Elite Financial Management, Bill Dendy, said he sees it all the time.

READ MORE: Passenger Revenue Soars At Southwest Airlines Despite Hit From COVID

“I’ve had folks making two-million dollars a year and they can spend all that and go into debt,” he said. “I think to be successful you have to earn well, invest well, and I think you have to spend well.”

READ MORE: CDC: Salmonella Outbreak In Texas, 30+ Other States Linked To Onions

So with Dendy’s help, here’s the Top 5 things you’re paying too much for and how to stop.

  1. Gasoline – What gas station you go to may not matter nearly as much as what time of the week you fill-up. A study of four years’ worth of gas prices by found in Texas gas prices are the cheapest on the weekend. Some say that’s because the energy markets are closed on the weekends, while others say it’s because people have more time to comparison shop on the weekends. Either way, in Texas you’re best off filling up on Saturday or Sunday.
  2. Jeans – A pair of designer jeans at the mall can easily cost you more than $200.  Often you can find those same jeans on discount websites, like, for a fraction of the price.  However, it’s important to know your size and how they fit before you place an online order because on most of these discount websites there are no returns or exchanges.
  3. Cell phone plans – Many consumers fall into the trap of believing prepaid wireless services are just for those poor or no credit, but that’s not the case.  All of the major carriers offer prepaid plans and we found they’re typically cheaper than the same carrier’s comparable contract plan. The big draw back on these prepaid plan is typically you have to pay full price for the phone.
  4. Life insurance – Especially if you’re healthy and in good shape, don’t just sign-up for a guarantee issue life insurance policy. Instead go take a medical exam and apply for an underwritten policy. Dendy said by doing this you can easily save hundreds of dollars a year on your premiums.
  5. Gift cards – If you paid $20 for a $20 gift card, you paid too much, websites like, buy unwanted cards from other people, then resells them for less than face value.  Some cards are discounted more than 50% on these websites, but most are marked down somewhere between 15- 20 per cent.
MORE NEWS: White House Says It Is Prepared To Give Kids The COVID Vaccine, But Are Parents?

(©2016 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)