5 Things Jim Cramer Won't Spend Money On

Former hedge fund manager and financial personality Jim Cramer is known for his stock recommendations shared on CNBC and Twitter — even leading to the creation of two ETFs to track his trades.

While he will recommend buying and selling certain stocks, Cramer also shared some money-saving recommendations.

Here are five things Jim Cramer refuses to spend money on.

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1. Expensive Sports Tickets: Cramer doesn't spend a lot on sports tickets. Instead, he maintains a frugal habit from his teen years and buys bleacher seats. “You know, it’s fun to go to a game and not make it so it’s like an arm and a leg,” Cramer told CNBC. That is, unless, the game involves the Philadelphia Eagles — his favorite NFL team.
2. Alcohol At Restaurants: Many people treat themselves to a cocktail or two when they go out for dinner. Not Cramer. “And that’s because I was brought up in a frugal house where my dad didn’t want me to order the Coke until the food came because he was afraid they’d charge him for the second Coke.” A $500 bottle of wine is a waste and could be used to buy many other things, Cramer says.
3. Tobacco Stocks: Cramer no longer recommends tobacco stocks like Altria Group (NYSE: MO) or Phillip Morris International (NYSE: PM). “There was a time when I recommended it, because you got the dividend and you could do whatever you want with the dividend. I don’t do it anymore.” Cramer mentioned family members dying due to smoking, adding, “I think that tobacco is wrong and it’s killed a lot of people.”
4. Expensive Hotels: While on vacation or a trip and deciding which hotel to book, Cramer believes it’s important to consider how long you’ll be staying in the room. “I’ll say, 'How long are we going to be in that hotel room? Are we spending the day there?'” Cramer recalled staying at an expensive Four Seasons hotel in Costa Rica and spending hardly any time in the room. “You want to figure out your priorities.”
5. Name Brand Products: Stores like Kroger (NYSE: KR) and Costco Wholesale Corporation (NASDAQ: COST) have their own generic brands that are just as good as name-brand products, Cramer says. “How about Costco? Get a membership. I only buy Kirkland,” Cramer said of the popular Costco generic brand. “I don’t buy anybody else’s. Kirkland is their generic, but it’s better than everybody’s.” Cramer said his favorite Kirkland item is the ties.

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