7 WAYS YOU WASTE MONEY WITHOUT THINKING
1. Fast Food
It’s estimated that the average person will spend around $75,500 on fast food in their adult life.
2. Coffee Runs
How many times a week do you grab coffee? Whether it’s grabbing it to go, or meeting with a friend, coffee is a staple for many people. A great way to save money, and not give up your coffee, is to make it at home.
3. Cable Pick your streaming services to pay for what you truly watch, and avoid paying for the tons of channels you aren’t interested in.
4.Subscriptions If you frequent buying things like magazine subscriptions, monthly boxes, gym memberships, etc., odds are you are taking a good chunk of your paycheck to pay for these each month.
5. In-App Purchases These are the sneakiest way to waste money, in my opinion, especially if you are a gamer. Whether you have a habit of upgrading to a pro version of an app, or you purchase game add-ons frequently, they all add up.
6. On A Whim Shopping Trips (mostly online) If you are surprised at what comes on your doorstep because you’ve ordered so much, this one’s for you. The pandemic has definitely impacted how we shop.
It may not seem like a big deal, because you are only spending a few dollars at a time. As with everything else on the list, those small amounts lead to significant amount of money you waste without thinking.
7. Impulse buys at stores
Do you frequent any of these money wasters? Let’s find out.
Step 1: Find Your Money Wasters Go to your bank statements and write down every transaction you’ve had for a period of time.
Step 2: Make A Plan & Take Action How will we either reduce the amount we spend, or get rid of them completely? To do this you need to go one by one and examine the reasoning for you spending your money in those categories.
I hope this challenged you, in a good way, to examine your spending habits and make a change.