No one wants to waste money, however now days, we just can’t help it. Unfortunately all the progress and innovative gadgets we have in our everyday lives increases our living expenses ten fold. I continually find money wasting, cash guzzling things that I wish I had known earlier.
Below I have listed a mere 10 items that you can easily waste money on.
Of course this is the big killer. Considering most home loans run for around 20 years, this adds up to a huge amount of interest. If you can pay your home mortgage off quickly, you can save thousands.
Avoid shopping at all costs. Even grocery shopping can be detrimental to any budget. Stick to your list of what you need. Do not go shopping for fun!!! You will often buy items you do not need.
I am shopping online now as I can inspect my trolly, cull the things that I REALLY DON”T NEED, then go to the online checkout. I always save money that way as everything you’re buying is listed right in front of you. I like colesonline.com.au as the website is easy to use and the service is great!
Now that everyone has a mobile phone, it is almost impossible to avoid extra phone bills. They are convenient and always have specials deals, but could you do without it? How about just receiving calls and not making them?
I simply don’t have a mobile phone. Can you believe that? I think I am surrounded and obsessed with enough technology as it is.
Stop Wasting Money on Pay TV:
Get rid of it! There is enough to do and see in the world, why spend your time watching TV. But if you never go out, like spending time at home, then you probably deserve some type of entertainment.
You can feed a family of four for around $200 a week, however one meal at McDonald’s for the family can cost over $60 in 2014. yes I thought McDonald’s was cheap food but it’s not. So 3 meals per week is $180 which is close to your entire grocery bill. If you like the cafes and restaurants then you can double or triple that cost.
I have heard of people spending $50 a week for twenty years on the same numbers hoping they would come up. Some people are lucky and some are not. If only those people had invested that money and compounded the interest. They would nearly be millionaires. Let us add this up. $50 a week = $2,600 a year. Imagine if you put that money away for 20 years instead of spending it? That is $52,000 without including interest!
I cannot get over the price of a movie ticket. I like to wait until the movie comes out on DVD and hire it out. Then everyone can watch it for a mere $6.
Why can’t people wash their own cars? You can turn it into a bit of fun with the family.. But just remember that sometimes the water you use can cost more, depending on where you live. We just can’t win can we?
The banks have really got the fees covered. Interest on borrowed money, transaction fees, monthly account keeping fees, and the list goes on. Find out what fees you pay and then figure out how to reduce them.. Its as simple as that!
Also remember to watch those sneaky ATM fees as they are rising all the time.
We can all save money on our utilities, especially the electricity bill. Turn off electrical items and lights when not being used. Get solar power as it really does reduce your costs. I have a 4kw solar power system and reduced my bill from near $600 per quarter to sometimes $25. It is so exciting to see the electricity bill now. Now that I know it works I am looking at buying a solar power system kit to add a small one to my pool. Then my power will really be covered.