"Good Morning America" teamed up with lifestyle expert April Franzino, the beauty director at Good Housekeeping magazine, to find out how long you can keep day-to-day products such as makeup and shampoo.
Powdered makeup can last about two years before the colors begin to look a bit off, according to Franzino.
"At that point you may start to notice that they're not performing as well," Franzino told ABC News. "So you might want to switch them out."
Liquid makeup, such as concealer and foundation, should be replaced every six months, Franzino said.
Liquid makeup that is used around the eyes, such as eyeliner and mascara, should be replaced every three months, Franzino added.
"That's where bacteria can grow," she told ABC News, "so you really need to be careful about switching that out every three months at least."
As far as hair products go, Franzino advised that shampoo and conditioner are generally good for a year. Aerosol spray products can last much longer.
The U.S. Food and Drug Administration (FDA) does not regulate cosmetics, but does warn consumers that “a cosmetic product may go bad if it is stored improperly — for example, in a place that is too warm or too moist.”
Products with active ingredients, however, such as toothpaste, are regulated by the FDA, meaning they will have an exact expiration date that experts advise you should probably stick to.
"You should not be using it beyond that expiration date, especially sunscreens," Franzino said. "It's hard to keep track of every single thing that you have so before you go to use any product just take a second and think, 'Okay, have I had this for a really long time?'"
Franzino's tips to save money on beauty products include swapping out liquid eyeliner in favor of a longer-lasting pencil and buying products that have pumps instead of traditional lids because they prevent bacteria from getting in.
Franzino also recommended not to buy items with an expiration date in bulk because you may end up having to throw it away before you use it.