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25 Unnecessary Wastes of Money You Don't Think About

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https://www.lifehack.org/articles/money/25-unnecessary-wastes-money-you-dont-think-about.html

lifehack.org

25 Unnecessary Wastes of Money You Don't Think About
Some money-saving tips are obvious, like flying coach, cutting back on eating out, or ditching expensive bad habits like smoking. Some ways are uncommon enough to be impractical for consistent savings like choosing cheaper hotels on vacation or buying a used car rather than a new one - great advice, but it's not going to help keep your monthly expenses in check.

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Brand name products

You don’t have to spend money on the big brand names.

Your local grocery or drug store might have a store brand or sell a generic version. In most cases, the ingredients are pretty muc...

1016 SAVES


Basic car maintenance

You do not need a professional mechanic to sort out many of the simpler car problems.

There are all sorts of easy and helpful instruction videos available to&nbs...

798 SAVES


Shopping when you’re hungry

We are more susceptible to buying stuff we don’t need when we are hungry. The same goes for a leisurely grocery trip. 

Make your shopping trip when you have other errands to do ...

1006 SAVES


Buying a snack at the gas station

We don’t keep track of all the little snack purchases made on the go.

Get in the habit of bringing plenty of liquids and a snack or two with you whenever you go do errands.

856 SAVES


Expiration dates

An expiration date on a food item does not mean it can no longer be consumed. Dried goods, such as cereal, uncooked pasta and dried beans fall into this category. R

828 SAVES


Paying for cable

Most streaming services are cheaper than paying for cable or satellite TV and you don’t get stuck with all the extra channels you never watch yet still have to pay for.

723 SAVES


Credit/debit cards

Credit or debit cards are convenient, but you don't see your shrinking bank balance with every purchase.  

If you use mobile banking or money management apps whil...

889 SAVES


A drafty living space

If you pay heating and cooling bills, you might be paying more than you need to due to inadequate insulation. 

Effective insulation can be achieved.

692 SAVES


Coupons

Don’t use coupons as an excuse to buy things you normally wouldn’t, even if they only involve small amounts of money.

Stick to coupons for the things you already buy or that ...

861 SAVES


Clothing

Rather buy better quality clothes that have been gently used instead of cheap new clothing.  Cheap clothes break and tear, and then you have to buy more.

If you insist on bu...

936 SAVES


Health and hygiene habits

Not washing your hands, alcohol and junk food habits, and just not taking proper care of yourself in general, will all come back to bite you.

Weigh the potential medica...

907 SAVES


Energy drinks

If you have an energy drink habit due to poor sleep, think of the money your sleep habits are costing you as an extra motivator to change them.

There are a number of health i...

702 SAVES


Grocery trips

Make yourself stick to a grocery budget. Do not allow little trips to the store throughout the week because you ran out of one or two items. 

A routine of more tha...

979 SAVES


Buying different cleaning products

You generally don’t need to buy a specific and often pricey product for every different surface in your home. 

There are recipes for DIY all-purpose cleaners on th...

762 SAVES


Pre-cut or individually-packed

Individually packaged food, in general, is more expensive than making something similar yourself.

Buy foods whole and cut them yourself.

737 SAVES


Disorganization

It can cost a lot of money to replace lost chargers and cables, expensive jewelry or losing keys and having to pay a locksmith to get into your house or car. 

Fin...

879 SAVES


SIMILAR ARTICLES & IDEAS:

Measure your expenses

Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.

Alternat...

Aiming to save pounds, not pennies

Get a cheaper living situation: Live in a smaller house that needs less stuff to fill it or get a roommate.

The personal finance rule of thumb is to spend no more than one-third of your income on rent. 

You Can Cook

If you can read, you can cook. If you can read and cook, you can use meal planning and prep to save time, money, and improve your health.

Base your menu for the week on two things: what you already have in the house and what is on sale at your supermarket.

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Single-Cup Brewing

It is more efficient to brew one cup at a time and you can choose from a great variety. However, it can be very costly. The excess packaging also causes environmental problems.

Microwave Popcorn

Popcorn is a great, healthy snack.

Instead of buying popcorn in microwave bags, one can also pop corn at home for much less than the bagged kind.

Bottled Water

Bottled water drinkers give 3 main reasons for their choice: 

  • Taste: Many claim their tap water tastes bad, but a simple pitcher filter can probably fix it.
  • Safety: Bottled water is not necessarily safer than public water sources. A high-end filter can remove impurities from tap water.
  • Convenience. A decent filter and a reusable bottle or stainless-steel flask can replace bottled water.

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Tony Robbins

It’s not about your resources, it’s about your resourcefulness.”

Tony Robbins

Be Creative To Afford What You Want

By following the conventional path of "school to loan to university to work" you risk running into serious debt. Being creative is a potential way to lessen or eliminate that.

Maybe finding a different and cheaper way of doing the same thing, doing a yard sale or getting a side job… Put your mind to it and you may find ways to get a financial boost. 

The Problem With Mutual Funds

When you buy mutual funds, you are charged a purchase fee upfront. This is a one-time payment to the fund management institution. Annually, you will be charged with a percentage of management fees, commonly known as “expense ratio”, which can be expensive.

Beware when advisors at your bank recommend mutual funds to buy. They might be earning a sales commission.

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