15 Jun Are You Throwing Money Away?

We all want to be responsible with our finances. But, sometimes we’re throwing money away without giving it any thought. Do any of these ring a bell?

Soft Drinks

Soft drinks have one of the highest markups of any restaurant item. Switch to water and save hundreds over the course of a year.

Unused Gym Memberships

Sure, you intend to work out but often people find many excuses. If you’re not using it, you’re wasting money.

Cable TV

Many people pay hundreds of dollars each month for cable TV and find they actually only watch a handful of channels. Also, many popular shows are available online and with streaming services that are much more economical.

Paying interest

Letting interest accumulate on credit cards and other debt is completely a waste. If you can’t afford to pay it off each month, it’s time to stop swiping that card.

Convenience Stores

Convenience store items also have an extremely high mark up. You are paying for the convenience. Pick up what you need at the grocery store instead.

Bank or ATM Fees

It’s worth your time to understand what your financial institution charges. Some banks charge for using ATMs. (KEMBA is part of the Alliance One network which gives you access to surcharge-free ATM transactions.) Also, if you monitor your checking account, your less likely to incur overdraft fees.

Eating Out

Everyone deserves a restaurant meal occasionally but you should only eat out when you can afford it. Making your own food at home is usually cheaper and healthier.

Speeding Tickets

That lead foot is costing you. In addition to the bite of the speeding ticket, you are also more likely to pay more for your insurance going forward.

Gourmet Coffee

A daily $5 habit can add up to hundreds very quickly. You’re much better off to make it at home.

Throwing Away Food

Whether it’s letting produce rot in the refrigerator or throwing away leftovers instead of taking them for lunch the next day, these dollars add up. Schedule a meal plan to make sure you eat what you buy.

There are obviously many, many more. The important thing is to take a look at your daily habits and see if there are areas where your spending doesn’t make sense for your budget.