There’s been a lot of talk about inflation, even though it dropped to 2.6% this year. Still, some things have become too expensive – and the prices aren’t going down. Here are some of the buys that are no longer worth buying.
Eggs
In 2020, eggs were just $1.45 and this year, they’re $3.00. If this seems extreme to you, you haven’t been paying attention. Last year, a dozen eggs went for $4.82, suggesting a pretty significant drop in 2024.
Insulin
The go-to treatment for diabetes has nearly tripled in price over the last decade thanks to manufacturers Eli Lilly, Novo Nordisk and Sanofi raising the prices in lockstep with one another. Making a generic version has run into regulatory speed bumps, though an off-brand version in supposed to be on the way.
McDonald’s
In 2019, a Big Mac meal sold for $7.29, and in 2024, it’s exactly $2 more. People are not pleased. Charges of price gouging have been so prevalent that McDonald’s actually answered some of them in a handy document.
In short, McDonald’s overall, five-year price increases are connected to the increase of costs to run restaurants, which have gone up. This includes increases in restaurant crew salaries (up over 40% since 2019) and food/paper costs, otherwise known as “cost of goods” (up more than 35% since 2019).
Average price increases at McDonald’s are within the range of other quick service restaurant price increases over the past five years. Restaurant margins are largely the same today as they were in 2019.
Starbucks
You’ve probably noticed your daily coffee order is getting really expensive. Since 2020, even a grande brewed coffee has gone up 49%, and that can make a big difference if you’re grabbing one daily. You can buy a nice espresso maker that might seem like a big expense until you realize a daily Vanilla Sweet Cream Nitro Cold Brew adds up to $2,270.
IPhones
You didn’t think Apple was making iPhones cheap for consumers, did you? A new iPhone that costs over $1,099 only requires $490 to make, meaning the company gets over $600 in profit. The prestige of having an iPhone has faded some, but devoted customers are still buying into the brand.
Trending on Cheapism
Health Insurance
While health insurance went up by 7 percent between 2023 and 2024 from $23,698 for an employer-sponsored family health plan to $25,572, it’s worth noting that over the the past five years, the average family premium has increased 24 percent, which is similar to inflation (23 percent) and wages (28 percent). In other words, it’s as bad as it ever was.
Designer Clothes
You may not want to buy designer if you’re watching your budget. The industry standard is for a profit margin between a 2.2 and 2.5 times markup, meaning a dress that cost $100 to produce might be sold to a retailer for $220. That retailer has to mark it up by 2.2 times again to profit, which means the final price will be (gulp) $484.
So, how do you get $5 T-shirts? Unfortunately, the laborers making them are probably getting pennies in pay, which means fast fashion isn’t a great answer, either.
College Textbooks
It’s insane what college bookstores charge for textbooks, but there are a lot of people expecting to be paid ranging from the author, marketing, transportation, and the employees at the bookstores. Still, it seems like a racket when an $11 textbook sells for over $200. As if college wasn’t expensive enough.
Sign up for our newsletter
Movie Popcorn
While the consession stand is seen as a way to keep ticket prices reasonable (they aren’t), popcorn is dirt cheap to make but ridiculously expensive at the theater. AMC is offering a $7 Flavor Maker Combo that includes a small popcorn and a small fountain drink with unlimited refills, which seems like a good deal until you realize you’re getting about 50 cents’ worth of popcorn in a small at best.
Greeting Cards
Want to send a sappy message to someone you love, but don’t want to write it yourself? That’s where greeting cards come in. While Hallmark and others charge $3 to $5 for a card, it probably only costs $1 to $2 to make. And you probably don’t wince paying a premium if the card expresses something you find hard to say.
Unlimited Data Plans
This probably seems like a good idea until you realize how much data you actually use. According to the technology company Ericsson, the average person used 12 gigabytes of data per month at the end of 2021. Look in the settings of your phone to see how much data you’re using now and consider shopping for a cheaper plan that fits your needs, which probably aren’t unlimited.
Wedding Dresses
The average price of wedding dresses is a steep $2,000 in 2024, which may seem like a ripoff when formal gowns that aren’t expressly bridal go for $300 or less. Also remember that price doesn’t factor in any alterations or accessories. To save money, consider a used gown so that you can save some cash for the honeymoon.
Diamonds
If you haven’t heard about the scam surrounding diamonds in the modern age, hold on. Besides not being as rare as the industry would like you to believe, the markup on a diamond at a retail store is usually 100%, if not more. The fact that men think they have to cough up a month’s salary on an engagement ring keeps the industry afloat but new couples cash poor.
Printer Ink Cartridge
If you’re wondering why printers come so cheap, you won’t think that after you have to buy a replacement ink cartridge. While these cartridges only cost about $4 to make, consumers have to shell out up to $25 each — and one color always runs out when you least expect it.
Eyeglasses
It turns out one brand – Luxottica — has a stranglehold on the industry, which means a pair of $30 frames can be priced at $330. There are cheaper options, but you may find less expensive frames aren’t as flattering as more expensive ones.
HDMI Cables
These can be purchased wholesale for under $3 (or even $6 on Amazon), but if you buy these where you get a TV or computer, you’re likely shelling out $20 a cable or more. Places selling items like computers or TVs that don’t drive big margins thanks to other stores trying to sell them even cheaper have to make their money somewhere, and a cable (which you may grab in the checkout line) is a good item to mark up.
Roses
Florists aim to make 70% profit on rose bouquets, so know that you’ll be paying $17 for a bunch of roses that were only $10 at the flower market this morning. The good news is that roses are longer lasting than peonies and dahlias snd can survive even longer if you change the water frequently.
For more smart money tips, please sign up for our free newsletters.
