In today’s economy it is important that we keep a close eye on our finances in case anything should go wrong, for instance we loose our jobs. Here are 9 things that waste our money.
9. Your Credit Card Balance Which Increases with Interest
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Leaving a balance on your credit card can really loose you a lot of money because every month interest is added. If you do not pay your balance off quickly then you will end up paying a lot more than you intended to over the year.
8. Leaving the Lights and Other Electrical Goods on Whilst out of the Room
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A complete waste of money is when you leave the lights on or the television on when you leave the room and will be gone for more than a minute. As well as a waste of money it is not very energy efficient either, turning off these items will make sure that you save some money.
7. Unhealthy Food
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One of the biggest claims is that healthy food is too expensive. In my opinion this is not true, it depends on what you buy and how you plan to use it because with fresh vegetables and meat you can make big dishes and freeze leftover. Therefore it lasts longer, whereas with unhealthy foods or already made meals you have to buy a new one for every day.
6. Buying New Goods Instead of Second Hand
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There are a lot of good quality second hand good available, yet people still feel the need to spend extra money on buying brand new. The quality is often still the same or even better and the prices are much cheaper when buying second hand clothes, furniture and some electrical goods.
5. Some Claim That Children Are a Drain
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In my opinion children are worth the money that we spend on them but some people say that they are another burden on the wallet. You often have to pay for driving lessons, school trips, cinema trips with friends, parties held at your house and the list goes on.
4. Trying to Keep up with the Jones’
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Many people feel the need to try to keep up with their next door neighbours, even when they know that they can not afford it or even need the item that they are buying. Their neighbours may buy a big plasma screen television, renovate their house and they feel that they have to do the same in order to fit in.
3. Drinking Alcohol
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Again, this is very similar to tip number two because excessive drinking can be extremely harmful and alcohol is expensive to buy. The cheap products taste awful and the nice tasting alcohol will set you back quite a bit.
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Not only is smoking unhealthy for you but it is also a burden on your wallet. The cost of buying cigarettes increases on a regular basis and depending on how bad your addiction is you could end up losing a lot of money. In my opinion this money could be saved or spent on something a lot more useful and that lasts longer.
1. Owning a Car
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In my opinion this is one of the biggest drains on your wallet. You have to pay a lump sum up front to purchase your vehicle or you can take out a loan but you still have to pay monthly. Then you have regular insurance payments to make and road tax to pay, plus you have to service your car yearly and if something goes wrong you have to fork out more money.
There you have 9 things that waste your money. This is by no means an exclusive list but it should give you something to think about, especially if you spend time wondering where all of your money is disappearing to.
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