Here is a list of 5 things people waste money on the most.
1. Credit Card Interest
This is the number one thing that I'm having problems with right now. In high school, I got approved for a credit card and I went a little crazy. Credit cards are used when you can't pay for necessities such as a car payment, or doctors bill. I on the other hand used it for things I wanted when I didn't have the money - things I didn't need. If you have no self control like me, STAY AWAY from credit cards unless absolutely necessary.
2. ATM & Overdraft fees
If you prefer to pay with cash over debit/credit, I suggest keeping cash in your wallet at all times. ATM fees can range from $2-$4 to transaction. Those fees add up! Also, another thing I am notorious for, is overdraft fees. Silly me thinks that I can just use my bank app and add things in my head when transferring funds to my checking. Just recently I got smacked with a $105 overdraft fee in only 1 day over charges as small as $4 for food and 15$ for gas! Banks offer protection from things like this that will just take it out of your savings if your checking doesn't have it. Unfortunately I just found this out.
3. Unused gym memberships
Sure, your new years resolution is to stay active and hit the gym 3-4 times a week. In reality you've gone 3-4 times in the past 6 months, only going in January. That extra $10,$20,$30, or even $40 a month seriously adds up. If you only go to the gym every once in a blue moon, it might end up being cheaper by purchasing a dumbbell set with adjustable weight and doing the rest with no equipment - such as running and mountain climbers.
Walmart sells these adjustable dumbbells up to 40 lbs for only $16.88
Purchase them here and ditch that gym membership that's burning a hole in your pocket!
4. Daily coffee trips
Since I am a tea drinker, I do not have this issue, but I highly recommend a Kuerig, or knock off brand to make coffee. I have one that I use for tea, you do not have to purchase the high priced k-cups either. I use it to brew hot water and stick my tea bag right in my cup! Most of these coffee makers come with a cup to brew your coffee too! You can purchase a Mr. Coffee K-cup maker used for $45 on ebay - here or new on walmart.com- here for $65. It may seem a little pricey to you, but trust me you will save in the long run!
5. Food
I am guilty of wasting money on food while I'm out instead of waiting until I get home to whip something up. Spending money on appetizers when going out to eat is usually a waste since most restaurants give such large portion meals. Instead of getting an appetizer, just get a meal. Or instead of getting a meal, get a few appetizers which usually cost around the same price. Try to avoid the temptation of Taco Bell's latest taco creation - which usually is the same as everything else on the menu with a slight change. I never actually got around to it, but meal prepping sounds like the best way to go when saving money on food.
What do you waste money on, and how can you change that?
