Common cents: Four sneaky money-wasters, and how to spend smarter

Scams, fraud, shady dealings--sure, you're savvy enough to steer clear. But we found some not-so-obvious and much more common ways to get taken for a ride. The truth is, with all of our day-to-day demands, we often put up with sticker shock on everyday items. Below, four buys to be wary of -- and some penny-saving strategies.

Money Pit #1: Prepackaged deli meats

These neatly wrapped meats may be convenient, but they're pricey on a cost-per-pound basis. Before you dole out your hard-earned dollars, consider this: Often just a few feet away, many supermarkets feature a deli counter with employees who can quickly slice the same stuff for you -- for a lower price. For instance, recently at an A & P I saw a 4-ounce pack of honey-glazed ham for $5.25. The same amount and kind of meat (likely fresher) at the deli counter was just $3.50.

The lesson: Prepackaged stuff is often seriously marked-up, so visit the folks at the deli counter before you toss prepacked meat in your cart.

Money Pit #2: Immune-boosting products

As I'm writing this, I'm sniffling and sneezing from a nasty  spring cold, an illness I encountered even though I was taking an immune-boosting supplement (a product which shall remain nameless). The bottom line: Don't follow my lead. The truth is, many germ-fighting products simply don't work. In fact, in 2007 and 2008 the Federal Trade Commission charged manufacturers of three products with making false and deceptive advertising claims. All have since changed their packaging. Airborne Health, maker of Airborne, paid $23.5 million to settle charges. CVS agreed to pay $2.8 million in consumer refunds and to stop making certain claims.

The lesson: Don't be a sucker. Science has repeatedly shown us that the best way to fight germs is with a healthful diet, a little hand sanitizer and some good ole' soap and water. 

Money Pit #3: Movie theater food

Concession stand Milk Duds and Sno-Caps may make your movie experience seem better, but these items can put a serious dent in your wallet. Fact: Upon visiting one movie theater in New Jersey, I recently encountered a 5 ounce bag of peanut M&Ms for over $6.00!

The lesson: Buy your snacks elsewhere before the movie begins. Drugstores are a good place to goodies on the cheap; for instance, I found a local Rite Aid charged $2.00 for an 8 ounce bag of M&Ms. More candy for a lot less. 

Money Pit # 4: Caskets

Not to be morbid, but caskets can be extremely expensive, especially when bought at the last minute -- something that happens frequently. Now, it's a rare soul who wants to think about and/or actively plan for his final farewell, but just a little planning can have a big payoff. Often, experts say, people end up buying more upscale funeral home products when they're in a highly emotional state -- paying giant premiums when they don't have to.

The lesson: Plan ahead and buy direct. Places like Walmart and even Costco now offer discounted caskets starting at a low $925. Not keen on the idea of selecting a casket? Plan this purchase at the same time you craft your will.

For more money-saving advice, check out our top product reports on ConsumerSearch.com