How to Avoid Wasting Money

Congratulations! You’re about to learn how to avoid wasting money, and it’s going to make a huge impact on your life. There are so many little habits that cause us to spend money on things that aren’t worth it, usually because we’re crunched for time.

Its Raining Money

Ways to Save Money

Small Stuff:

Little things can add up to big bucks, and they’re some of the biggest ways we waste money. For example, every time you choose to buy an individual bottle or water or soda rather than buying in bulk, you’re paying a major markup. And it’s even worse if you’re buying at a convenience store because prices are much higher than at your local grocery or superstore. Why? Because they can’t command the same pricing from the manufacturers that supermarkets can, and also because you’re paying for how easy it is to run in and out quickly. Speaking of drinks, you can keep the costs of your restaurant bill down simply by choosing water instead of soft drinks, which can add $3 or $4 per person to your check.

Entertainment:

Your cable bill and Internet bills are probably quite expensive. It pays to stay on top of what you’re paying for versus what you use. Always try to renegotiate your plan, and consider cutting the cable “cord” so you pay only for what you watch. Your cell phone plan is another biggie. Take the time to review it - are you paying for minutes, data, and features that you don’t even use? Is there a family plan available that will bring your costs down? Moving your newspaper subscriptions to the online version will keep you in the know and save you money at the same time.

Fees & Interest

Commit to yourself that you’re not going to ever pay another late fee again. What a waste! Set up automatic payments and calendar alerts that make sure you pay all your bills on time. And plan your ATM withdrawals so that you skip the fees for using the ATM at another bank, which can be more than $3 per transaction. Pay attention to how much your bank charges for these penalties and convenience fees. Your credit card fees can add up, too. Choose cards without an annual fee, and pay your bills in full if you can to avoid expensive interest charges.

Shop Smart

The more you can plan your shopping and major purchases, the more likely you’ll get a better deal. From shopping at warehouse stores and researching pricing for things online, all it takes is time and organization. This can be hard to do with the demands of work and family, but it’s worth it when you add up how much you can save.

No More Mindless Money Wasters

If you start tracking how much you save when you don’t waste money, it’s easy to stay motivated! Wouldn’t you rather have all this extra cash for investing?

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