Top Ten Things You Can Do To Stop Wasting Money
Saving money is on everyone’s agenda, no matter how rich or poor. So, it’s essential to know when to say ‘no’ when it comes to spending your money, even though it is your money, running out of it is never fun, especially when there are bills or credit card debts to pay.
Here, we have devised the top ten things you can do to stop wasting your money – you can thank us later!
1. Bank Fees
Banks and all things related are known to be money-vacuums that suck the life out of your bank account. One money saving tip is to avoid paying ATM fees and overdraft fees. Although they seem minor, they add up significantly. So, either carry cash with you or use ATMs from your bank only, as they will allow you to withdraw money at no extra cost.
2. Bottled Water
Not only is spending money on bottled water incredibly bad for the environment, but it impacts your bank account more than you realise. Therefore, stop wasting money and get into the habit of filling up a water bottle every morning and refill it at a tap as you go throughout the day.
3. Buying Lunch Every Day
Dining out regularly adds up very quickly. Therefore you need to stop spending your money on lunches every day and prepare meals from home. Obviously spoiling yourself now and then is fine, however eating out every day, or every few days is wasting a lot of your hard earned income.
4. Coffee, coffee, coffee!
Although buying a coffee before work may seem like a part of your daily routine, why not switch it up by brewing your own coffee in the morning? Many people waste a lot of money on this “necessity”, which ends up setting them back a lot. It may not feel like you’re spending that much money on coffee, however, if you add it all up, you’ll realise how much of that you could be putting into your savings account.
5. Streaming Services
If you’re the kind of person who only purchased Netflix or Foxtel due to the hype, then this tip is for you. Save your money on those pricy monthly subscriptions and unsubscribe if you barely watch anything on them.
6. Buying Full Priced Clothes
It is actually possible to find some amazing quality clothes on sale, or for cheap at a second-hand store. Another money saving tip is to buy your clothes offseason, as they are usually marked down significantly. Although you may be a little behind on the trends, by not paying the full price for clothing and other items, you inevitably save more than you realise.
7. Unused Gym Memberships
Nobody knows your exercise habits more than you do, and although having a membership may be a great motivation, if you never use it, then you’re losing money. Besides going for a jog, there is an abundance of at-home workouts available all over the internet for you to access whenever you feel the need. So, why don’t you ditch those monthly payments and find an activity you’ll actually stick with?
8. Grocery Shopping
Have you ever head the term “eyes bigger than your stomach”? It can apply to many scenarios, and grocery shopping is one of them. Grocery shopping when you’re hungry is setting yourself up for failure, as you’ll buy things that you don’t really need. Also, it’s important to plan your meals for the week and purchase food according to your plan. This will save you loads!
9. Unhealthy Habits
Things such as alcohol, tobacco and junk food are all habits that are known to be bad for your health, but people tend to ignore this fact. However, if you’re really trying to improve yourself both physically and financially, it’s important to reflect on how much you’re spending on these items.
You may not be able to change your commute, but it’s definitely possible to save money on petrol. There are multiple apps you can access that show you which petrol station is providing the cheapest prices at the moment. Prices and locations do vary quite regularly, however, apps such as Motormouth are a massive help if you want to save a little extra coin.