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25 Unnecessary Wastes of Money You Don’t Think About

25 Unnecessary Wastes of Money You Don’t Think About

Some money-saving tips are obvious, like flying coach, cutting back on eating out, or ditching expensive bad habits like smoking. Some ways are uncommon enough to be impractical for consistent savings like choosing cheaper hotels on vacation or buying a used car rather than a new one — great advice, but it’s not going to help keep your monthly expenses in check.

In fact, you may be wasting money in extremely common but often overlooked ways. Here’s a list of 25 things you probably didn’t know you could save on and how you can stop wasting your money one them.

1. Buying brand name products

Store and generic brands have to be one of the most underused ways to save money across a range of products. From food, to skincare, to over the counter medicine, chances are your local grocery or drug store has a store brand for them or sells a generic version. Check the labels; in most cases, the ingredients are pretty much identical, but you don’t have to spend money on the big brand names.

Also, if you have prescriptions, you can sometimes ask your pharmacist for the generic version of your medications. They work just the same as the brand name, and can save you quite a bit of cash if your co-pay is high.

2. Paying someone else for simple car repairs

Basic car maintenance is something fewer and fewer of us learn, perhaps due to our increasingly busy lives and the preference for someone else to do maintenance work. But, assuming you own a car, money is flying out your wallet if you take your car to a shop for every little complication. Several of the simpler car problems don’t take a professional mechanic to fix, and even routine maintenance tasks can be performed at home. The great thing about the Internet age for car-owners is that there are all sorts of easy and helpful instruction videos out there.

Now, this doesn’t mean you can just start whacking at your engine with a socket wrench, but you definitely have more ability to tune up your car for cheap than you think you do. Start here.

3. Grocery shopping when you’re hungry

Or when you have all the time in the world. Avoid these two scenarios when taking a trip to the grocery store at all costs. If you shop for groceries when you’re hungry, even just kind of hungry, you’re more susceptible to buying extra stuff you don’t need or that you’ll waste later. Same goes for a leisurely grocery trip. If you make your trip when you have other errands to do and only a certain amount of time to do them, you’re less likely to spend time exploring all the isles and picking up more food than you originally planned on buying.

4. Buying a snack at the gas station “every now and then”

The quotation marks are there because “every now and then” usually means you just don’t keep track of all the little snack purchases you make on the go. All those bottles of soda and chip bags you pick up when you’re filling up the tank or making a stop at the drug store add up. Make a rule that you have to track all of those little snack purchases and you only get a small allowance of them per month. Get in the habit of bringing plenty of fluids and a snack or two with you whenever you go do errands or anything else that might bring you near convenient snack-filled temptations.

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5. Taking expiration dates as law

For some of the more perishable foods expiration dates hold more authority, but you can usually tell this by the funky smells or colors that develop when they start to go bad. But an expiration date on a food item isn’t the be all end all, assuming they have been stored in a cool, dry area. The most obvious case of this is pretty much any dried good, such as cereal, uncooked pasta, and dried beans.

Several foods that usually go bad when their labels say they will, such as raw meat or bread, can be stored in the freezer before their expiration date if you don’t think you’ll make it in time and be perfectly fine when you thaw them again. You can also use online databases to look up the actual shelf-life of certain foods and compare it to what the label says.

6. Paying for cable

Cutting the cord might seem like something only super savvy Millennials and tech whizzes can do without sacrificing a few of their favorite shows. But there are a bazillion TV and movie streaming services and other non-cable options out there now, the quality and variety of which will only keep growing in the years to come. Pretty much any streaming service is cheaper than paying for cable or dish, and you don’t get stuck with all the extra channels you never watch yet still have to pay for.

You can’t sit there and surf channels aimlessly any more, of course, but it’s not like doing that made your TV experience fantastic anyway.

7. Only using credit/debit cards

Convenient? A bit. Ignorant bliss? Definitely.

If you almost exclusively use your card to pay for things, it’s a lot easier to spend more than you intend to because you aren’t seeing the money. You just press some buttons and boom, purchase made. You might not be so liberal with your funds if you had to watch the cash leave your wallet. If you use mobile banking or money management apps to keep on top of your finances while still using your card, and it’s working, keep doing your thing. For the rest of you, you might want to consider weekly or bi-weekly trips to your bank or ATM and withdrawing a fixed amount of cash for your spending.

8. Your bank in general

Banks and everything to do with them are just money-vacuums in general. Take a look at your accounts and card fees and see if there are any better options than what you currently have. Try your darnedest to use ATMs for your bank only, as using another branch’s machines typically racks up unpleasant fees.

Better yet, ditch the bank altogether. Try a local credit union instead.

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9. A drafty living space

If you pay heating and cooling bills, you might be paying more than you need to due to inadequate insulation. If you can afford it, you can install more airtight windows and maybe a door or two as well. But effective insulation can be achieved without entirely replacing your windows in most cases. Start here and here.

10. In-game purchases

As a semi-recovering Candy Crush addict, I know how hard this habit is to break. But those $1 or $5 purchases here and there WILL add up, and you’ll suddenly be looking at your bank statement with a whole lot of shame and regret. Remove your credit card info from any sites or apps where you play games, and if you get really frustrated by a level you just can’t seem to beat, Google a how-to guide. (After finding some really effective ones for Candy Crush, I feel really dumb about buying those power-ups.)

11. You don’t keep your tires properly inflated

Yes, some tires with a little too much wiggle room can actually worsen your car’s gas mileage. Keep your tires properly inflated and you’ll save money on gas you didn’t even know you were losing. Set up a regular alert on your phone or write them down in your calendar so you don’t forget to check.

12. Couponing (irresponsibly)

Coupons save you a little money, yes, but if you’re couponing just for the sake of it, or convincing yourself you were totally going to buy those things on that discount site, you’re still wasting money. Don’t use coupons as an excuse to buy things you normally wouldn’t, even if it’s just an extra $5 to your usual purchase. You’ll end up doing it a lot more frequently than you intended, when you could be focusing on coupons and discounts when you actually need them.

Stick to coupons for the things you already buy. The exception to this is if you’re making an expensive but necessary purchase that you don’t regularly have to make, such as a car repair you absolutely can’t fix yourself, and you’re able to find a special coupon or discount for it.

13. Paying full price for clothes

Some cities have really great thrift stores or, for the pickier people, consignment shops. If there aren’t any near you, you can find plenty of sites that sell gently used, good quality clothes, as well as let you sell your own. Plus, by buying better quality clothes that have been gently used instead of cheap new clothing, your stuff will probably last longer. Cheap clothes break and tear, and then you have to buy more.

If you insist on buying clothing or shoes brand new, you still don’t have to pay full retail price. Chain stores usually mark up the price of the clothes they sell so that you pay significantly more than what it cost to make the items, giving the stores a hefty profit. Rather than paying the full price, find the items you really want and keep an eye on them. They’ll eventually be discounted or the store will have a sale that includes the item, allowing you to buy it at a better price. This is also a good way to weed out things you don’t actually love enough to buy, since you’ll have time to think about whether or not you really want the item while you wait for a discount.

14. Skimping on health and hygiene habits

You think it won’t happen to you, but it will. Your dentist isn’t just having a power trip, you really do need to maintain your teeth’s health or you’ll be paying for dental work in the not too distant future, and that can get painfully expensive. Not washing your hands, alcohol and junk food habits, and just not taking proper care of yourself in general will all come back to bite you, no matter how invincible you think you are. Weigh the potential medical bills against the temporary inconvenience of adjusting to new habits and make the smart choice.

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15. Pricey personal care products

We think we’re savvier consumers now, yet many of us continue to buy a bunch of chemical-filled crap to slather on our faces and bodies in the hopes that it will fix wrinkles (excuse me, “fine lines”), firm our skin, or brighten our complexions. I know it doesn’t work, you know it doesn’t work, so stop buying into it. Do you even know what you’re rubbing on yourself anyway? Take a look at the ingredients lists on your personal grooming products. I bet you can recognize maybe four or five if them without using a search engine. Opt for products with less ingredients that you can actually pronounce — and own up to the fact that some of your own habits are contributing to your skin/hair/body odor issues.

16. Unnecessary laundry junk

Dryer sheets? Toss ’em. Fabric softener? Throw it out. You need neither; in fact, you might not even need that toxic goop you put in your washing machine either. Plenty of cheap and easy homemade laundry detergent recipes can be found online, as well as replacements for dryer sheets such as reusable dryer balls. Or better yet, skip the dryer as much as possible, line-drying works just fine.

17. Energy drinks

If you have an energy drink habit, it’s time to kick it if you want to save money. Those things aren’t cheap, and chances are you eventually have to start drinking more than one a day to keep the buzz once you begin to tolerate them. If this habit is due to poor sleep, think of the money your sleep habits are costing you as an extra motivator to change them.

If you get a normal amount of sleep but still feel exhausted enough the next day to require energy drinks, make an appointment with your doctor. There are a number of health issues that could be causing you to feel drained, and one trip to the doc will be worth it if you can find out how to fix it.

18. Disposable razors

Disposable razors lose their sharpness pretty quickly (or get too clogged up with deodorant and other product residue), so you end up buying them pretty frequently. However, there are non-disposable razors that don’t cost a ton and once you’ve purchased it you only need to replace the blade itself, which you can usually buy in bulk online for super cheap but excellent quality. They are a little bit sharper than disposable razors because they’re designed to last more than five days, but don’t worry, these aren’t the long single blades you see in old-timey barbershops in films and TV, they’re the same shape you know just minus the whole disposable part.

And ladies, these razors are labeled and marketed for men, but they’re not gender exclusive. The companies are just marketing them as an old-fashioned manly-man thing rather than a save-money-and-the-environment thing. Don’t be fooled, you can totally use them.

19. Not carrying a re-usable coffee cup

Some places (maybe even most) add the cost of the disposable cup to the price of their drinks, since after all they don’t get those cups for free. If you’re a frequent coffee or other beverage purchaser, invest in a reusable to-go cup. You’ll typically get a “discount” for using it, when in fact you’re just not paying extra for the paper or plastic cups.

20. Buying individual coffee drinks in general

Get yourself a decent coffee-maker and make the coffee yourself to save big bucks over time. A lot of coffee machines now have the ability to preset your brew, so you can program it the night before to start brewing your coffee before you even wake up. Now you can’t claim it’s too much work!

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21. Making more than one trip to the grocery store per week

A good way to make yourself stick to a grocery budget is to not allow little trips to the store throughout the week because you ran out of one or two items. Chances are you’ll end up getting something extra half the time, and a routine of more than one grocery store trip per week indicates you’re not properly tracking your grocery consumption and adjusting what you buy and when you buy it to fit your habits.

22. Buying several different cleaning products and wipes

With a couple exceptions like wood and certain upholstery materials, you don’t need to buy a specific and often pricey product for every different surface in your home. It’s easy to find recipes for DIY all-purpose cleaners on the cheap like this one, as well as homemade cleaning products for specific surfaces if the need does arise.

23. Not taking advantage of qualifying discounts

This is especially good money-saving advice if you’re a student. Student and college discounts abound, they just might be hidden. Just because a company or establishment doesn’t explicitly advertise student discounts doesn’t mean they don’t have any; ask an employee, or, if you’re making a purchase online, use a search engine to see if there are any student discounts or programs you weren’t aware of. This goes for other person-specific discounts, such as military or senior discounts.

24. Pre-sliced or individually-packed anything

Your pre-cut meat and cheese are likely costing you way more than if you just bought these foods whole and cut them yourself. And really, individually packaged food in general is usually more expensive than making something similar yourself. Even things like snack bars aren’t difficult to make, and the bulk ingredients will feel like a steal for the amount you can make with them.

25. Disorganization

Being disorganized has cost you money at some point. Losing chargers and cables, misplacing expensive jewelry, forgetting where you left your keys and having to pay a locksmith to get into your house or car. If the mess itself hasn’t motivated you to declutter and get organized, link back on all the times you lost or misplaced something and ended up spending money in some way because of it. Then think of how many of those times you ended up finding the missing item later and realizing you spent that money for nothing. Yeah, I thought that might get your attention.

Featured photo credit: Throwing Money Away/Bruce Evans via secure.flickr.com

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Last Updated on April 3, 2019

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider Consolidating Multiple Credit Cards If Possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to Pay the Full Balance You Spent Each Month at the Very Least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay Extra When You Can – Every Small Amount Counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a Plan on How to Pay Extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out Costs for Services You Do Not Use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get Aggressive About It

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate Your Progress at Set Intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep Trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start Knocking out Your Debt Today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

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Featured photo credit: Pexels via pexels.com

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