20 Things You’re Wasting Your Money On

Just squeezing enough out of your pockets each month to get by? Savings account seem to lack any actual savings?

Here are 20 things that may help in fattening up your wallet.

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1. Unused Gym Memberships

Have you ever been to the gym the day after New Years and there’s line ups for the treadmill and people are bench pressed up to each other due to lack of space? Give it two weeks and it will feel post-apocalyptic. The thought was there but life happens and most people can’t stay committed to regular attendance after signing up for a gym membership. If you can’t skip the gym for a home work out or a run around the neighborhood, at least avoid a contract and pick a gym with a month-to-month option.

Source: Flickr/Ms. Phoenix

Source: Flickr/Ms. Phoenix

2. Extended Warranties

It usually happens in the heat of the checkout moment; just a few extra dollars to protect your shiny new phone. All you can think of is defending your new purchase and it covers ANYTHING that happens. Or so we assume. In reality, most warranties come with a long list of exclusions and the manufacturer’s warranty may already provide the coverage you need.

3. Avoidable Fees

We often turn a blind eye to $1.00 here and there but it all adds up and why pay if it’s entirely avoidable? Using ATMs to withdrawal funds from a bank that isn’t your own can mean hefty transaction fees- to access your own money! Note where your branches are and take out enough cash ahead of time. When it comes to your monthly bills, you know you are going to have to face them every month, so don’t be lazy and miss payments. Set up automatic payments or at least reminders in your phone for when each bill is due to avoid late payment fees.

Source: ShutterStock/sanjagrujic

Source: ShutterStock/sanjagrujic

4. New Cars

The thrill of being the one and only who has been behind the wheel of a new ride seems tempting. However, the fact that a new car depreciates nearly 10 percent in value within the first mile off the lot should make you double check the used ads. Additionally, monthly car payments can take a toll on your expenses.

5. Small Convenient Purchases

Convenient also means pricier simply because you are paying for the convenience. Take a little extra time to shop around or don’t let yourself get into a pinch for a product. Avoid the vending machine and buy your snacks in bulk. If it’s something that can wait for a trip to the store instead of gas station, wait.

6. Cigarettes

Beyond the health reasons, this bad habit will burn a hole in your pocket. As an addiction, it’s deemed a necessary purchase and the thought of the costs are pushed out of mind. Perhaps using an app like QuitNow maybe cause second look. If a 20-pack of smokes costs an average of $10 and you smoke about 10 per day –you’re spending over $1800 a year. If the disturbing images of gnarled teeth and grotesque tumors on the cartons don’t deter you, maybe the cash you’re spending is scary enough to go cold turkey.

Source: kikit.co.nz

Source: kikit.co.nz