From alcohol to expensive hotels, here are 5 things jimcramer refuses to spend money on. (via CNBCMakeIt)
That's why he tries to save money where he can, even if that means turning down drinks at restaurants or buying generic store-brand products. He also avoids products that are harmful, like tobacco stocks, even if they look like a good investment opportunity.
"If it's a hockey game or a baseball game, I don't care where I get [seats]; I just go and watch," Cramer tells CNBC Make It. Even when he takes people out to baseball games, he prefers the cheaper bleacher seats. "It's fun to go to a game" without spending "an arm and a leg," he says. However, he makes one exception: For football, Cramer splurges on luxury box seats, "because I'm a huge Eagles fan."Because liquor is usually marked up 20% to 30% at restaurants, Cramer avoids buying drinks when dining out. "I will not spend money on liquor," he says. "I was brought up in a frugal house where my dad didn't want me to order the Coke [at restaurants] until the food came, because he was afraid they'd charge for the second Coke" if Cramer drank his first beverage too fast. That mindset followed him into adulthood. "When I see a bottle of wine that's $500 — what a waste. Why didn't you just go buy a beautiful sweater? Can you imagine the kind of sweater you could get for that? You could get two great cashmere sweaters."Cramer says he used to recommend tobacco stocks as investments, "because you got the dividend and you [can] do whatever you want with the dividend," like giving it away "to an anti-smoking cause.""I think tobacco is wrong. It's killed a lot of people. It killed my late father-in-law. I watched it happen," he says. "I want smoking stopped in the country."To Cramer, it's a waste to spend a lot of money on hotels during trips when you're mostly out sightseeing. "How much you need is totally dependent upon the extravagance," he says. Once when visiting Costa Rica, he and his wife stayed at the expensive and luxurious Four Seasons hotel. But they were never in the room and couldn't justify the cost. "We were out every single minute," Cramer says. "Next time we went, we stayed at an eco hotel. It was one-tenth the price." They didn't use that room much, either: "We never went into it until the moment we were going to go to sleep."5. Name-brand products Cramer buys only generic products when shopping at Costco, Walgreens or Kroger stores. These products are usually identical to other retail brands, except that they'll have store-branded labeling and are almost always cheaper. "Do you know that the Kroger brand is every bit as good? How about Costco? Get a membership," says Cramer. "I only buy Kirkland. Kirkland is their generic [brand], but it's better than everybody's."His favorite Kirkland product? Ties. "When you get salad dressing all over them, just throw them away!"
Please follow us on Google to support us United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Ryan Day’s First Three Years at Ohio State Compare to Urban Meyer, Jim Tressel and Other Past Buckeye CoachesRyan Day has the second-best winning percentage through three years of any Ohio State coach, though he hasn’t yet won a national championship like Urban Meyer and Jim Tressel did.
Read more »
Another Heart Changed? Former Crypto Skeptic Jim Rogers Wishes He Bought Bitcoin at $1Jim Rogers, who once viewed bitcoin as a 'clear bubble,' now regrets not being among the early crypto investors.
Read more »
Jim Cramer gives his take on which retail stocks are investableThe 'Mad Money' host said that while the retail space is beaten down, there are still some winners that investors should consider adding to their portfolios in Friday's episode of the show.
Read more »
Watch Jim Cramer's full interview with Dominion Energy CEO Bob BlueThe 'Mad Money' host interviewed Dominion Energy CEO Bob Blue on Thursday's episode of the show.
Read more »
Veteran Technical Analyst Larry Williams Sees a Market Bottom in the Making, Jim Cramer Says“I wouldn’t bet against him.” the “Mad Money” host said.
Read more »