Inside: Find out which of these 7 things you are wasting your money on.
Do you ever look at your bank account at the end of the month and wonder where all your money has gone? These seven things could be emptying your wallet.
1. Credit Card Interest
The Balance found that the average American pays over $1250 each year in interest on credit card debt! That is crazy. If you look at your interest payments for the past year, think about what you could have done with that money. Maybe paid your rent or covered a mortgage payment?
Work on a budget so you are not overspending and let’s get rid of that credit card debt.
2. Faster Shipping
Have you ever paid extra to get a package sooner? Often those shipping fees can tack on 10% or more to the order. I’ve even seen it cost more than the order total.
You can eliminate paying for faster shipping by planning ahead, shopping locally, or making use of Amazon Prime, which also gives you access to their video and music streaming. Or, if you don’t need the item right away, you can just wait the few extra days normal shipping takes.
3. Cute baby clothes
Awww, the baby looks so cuuuute! And that outfit? On sale for $45! Please. If the child is comfortable, she doesn’t care what she is wearing. The little ones outgrow clothes so quickly it is easy to find very cute and cheap (usually less than $1 and definitely less than $5) outfits at garage sales, Goodwill and from friends whose kids have outgrown their clothes. Even those foofy holiday photo outfits.
4. Gym memberships
If you are paying for a gym membership, are you actually using it enough to get your money’s worth? If you rarely go or spend most of your time on a treadmill when a sidewalk will do just as well, you are wasting your money. You can also look into less expensive options such as your local YMCA, community center or even a local college. Did you know some colleges let the public use their fitness facilities for a very small fee? Same with some hospitals that have fitness facilities. It’s worth a look.
5. Cable TV
Cable is expensive. There are a lot of great alternatives to programming these days you can watch on-demand and your wallet will be happier.
Food is a biggie. Have you checked your food spending lately? It might make your eyes bug out seeing how much you spend eating out and buying groceries. Try packing a lunch, meal planning, and trying less expensive brands. Also be sure to make use of the great rebate apps available.
And that salad mix you bought? Eat it rather than letting it to go bad, throwing it out, and repeating the cycle again next week. You know it happens.
7. Premium Gas
Did you know AAA found there is no benefit to using a higher octane fuel in your car than what the manual says you need? And most car manuals say you only need regular gas. As long as you are buying a top brand, that is what matters more, thanks to the additives they include to improve engine performance. Save your money at the pump and go for the regular octane from a reputable source.
What things do you notice people wasting money buying?