Ways That You Are Wasting Money And Don't Even Realize It
There are a multitude of ways in which you may be practically throwing money out of the window. It is not something that most of us think that we are doing or that most of us even like to think about in depth. However, it is necessary to focus on these kinds of things because we have to try to improve ourselves over time to make for a better financial future going forward. Today, we need to take a look at some of the ways in which many of us are wasting money.
This may seem rather odd and nit-picky, but purchasing an extended warranty on virtually anything is a very bad idea. Most of the time if you purchase something that breaks down it is going to be during the typical warranty period anyway. Companies are more than happy to sell you an extended warranty if you happen to be someone who is a constant worrier about these types of things, but you are probably just throwing away cash if that is what you decide to do.
Keeping Devices Plugged In
It seems like nothing at all to keep devices plugged in at all times, but you are actually zapping energy when you do this. You could be costing yourself as much as $23 per year on your cable box being plugged in at all times. That may not sound like a lot of money, but think about all of the electronic devices that you keep plugged in at all times. It can start to amount to a lot of money when you total it all up.
Paying Bank Fees
There are a lot of banks that will offer you free checking accounts, but some of them are sneaky with the fees that they charge to those who have less than a certain balance in their account. It is something to be mindful of if you are the kind of person who dips down into a very low balance frequently.
Purchasing Name Brands
Most products do not require you to purchase name brands in order to get the kind of quality that you are interested in. The reality is that you can often purchase the store brand product and get just as much quality out of it as a name brand.
Going Out To Eat
You do not have to go out to eat nearly as often as you probably are. It is just so easy to decide that you do not feel like cooking on a particular night. Doing so too often will lead you to wasting a lot of money though. Restaurants have to charge a premium on their food to make up for the costs that are associated with providing you with the food in the first place. Make sure you avoid eating out except for during special occasions.
Smoking Or Playing The Lottery
Bad habits such as these are incredibly costly. You do not realize how much this kind of thing can add up to, but you can quickly end up wasting a great amount of money on habits such as this.
These are typically a waste of money when you boil it down. You have to think about how often you will really go to the gym. You may have the best of intentions when you set out, but the odds are that you are not going to end up using the gym nearly enough to make it worth your money. Also, these memberships tend to cost a considerable amount of money and get you locked into a lengthy contract.
Cable bills are expensive, and this is particularly true if you are the type of person who pays for the premium cable services. It is a good idea to avoid paying for cable at all, particularly if there are options that are available such as Netflix.
Interest On Credit Cards
You may not even think much about the interest that you pay on your credit cards, but that money probably adds up pretty quickly over time. You may well end up spending a great deal of money just servicing the interest on your cards. Avoid this headache and go with paying off those credit cards right away.
Buying Insurance That Doesn’t Keep You Covered
Insurance that you consider to be “cheap” may not be when you consider the lack of coverage that may be included in this. You don’t want to end up in an accident and have to pay a considerable amount of money as a result of having inadequate coverage as a result.