Having trouble making ends meets? Do you feel like you never have enough money left at the end of the month? If so, the problem might be more about where you are spending your money rather than how much money you bring in with each pay.
People across the country waste money every day on things they really do not need or they could choose a cheaper alternative.
Below is a list of the top ways that people tend to spend too much money.
The problem with cut flowers is that they only last for a few days. Your money would be better spending your money on potted flowers that could last all year long.
If you usually purchase a greeting card to go with your gift, you are wasting a lot of money every year. Instead write a nice handwritten note to include with your gift or purchase generic cards in bulk to use throughout the year.
Alcohol at the Bar
You will pay a lot more money when buying alcohol at the bar or a restaurant. Drinking at home with your friends will save you a lot of money and reduce the need to get home afterwards. However, eating out and being social is fun, take advantage of BYO establishments.
Bottled water is a huge added expense for something you could get at home. If you are concerned about the quality of the water, purchase a home filtering system instead.
Replace Things that Are Not Broken
Everyone thinks they need the newest electronic out on the market, even if they already have one. For example, people tend to upgrade to a new mobile phone whenever the next model comes out, even when theirs is still working fine. This is just an extra expense you do not need to pay.
Stopping at the coffee shop on the way to work every morning will add up over time. Instead, make you own coffee at home before you leave in the morning and take it with you, or wait until you get to work and drink the coffee there.
Eating While Drinking
Eating out while intoxicated is a great way to blow out your budget. People tend to snack and eat more when drinking. If you are planning on drinking be sure you eat well before you head out, so you will not be as hungry.
A taxi ride may be more convenient than public transportation, but it also costs a lot more too. You will save yourself some money if instead of calling for a cab, you just wait until the bus comes or share a cab with multiple people.
How often do you really pick up that magazine and read it? Could you find the same information for free online?
Australians spend millions of dollars each year on purchasing lotto tickets, but only a small handful ever win anything. While everyone dreams of winning a large sum of money, this money could really be better used somewhere else.
Online games have become extremely popular, especially mobile games. It may not seem like much to spend a couple of dollars here and a dollar there, but this does add up over time. Stick to the numerous free games that are available online and play them instead.
Overdraft Fees and/or ATM Withdrawal Fees
Overdraft and ATM fees are extremely expensive and totally unnecessary. Keeping track of your bank accounts and your spending can avoid this problem. You should always keep a little extra in your account to cover any of unexpected costs. Plan ahead when it comes to ATM withdrawals or walk to your nearest branch, even if it’s a bit of inconvenience.
Account Keeping Fees
Having multiple bank accounts and superannuation accounts will lead to extra account keeping fees. Be sure to keep your account consolidated to ensure you are not charged these extra types of fees.
Overnight shipping typically costs significantly more money. Be patient and wait the few extra days and save yourself a lot of money through the course of the year.
Full-Rate Movie Tickets
You should never pay full price for tickets to the movie. Find a matinee that offers cheaper rates, or just wait to watch the movie until it comes out to rent.
Just image how much money you could save throughout the year by cutting out these added costs. The best way to know if you are spending too much money on the wrong things is to keep a journal or use a budgeting app that tracks everything you buy. Each week take a look at your list and see if you can find areas where you are spending too much and find ways to cut back. If the list is too extensive or affects your general routines, try just cutting back on a few of them, every little bit can help reduce costs.
What other common items do you splurge on and could easily cut back?
Image by Vichaya Kiatying-Angsulee