None of us want to think that we are ever wasting money, especially when it is in such short supply, but the truth is, we might not be as thrifty as we think. Unfortunately, there are some mistakes that we are all capable of making.
Of course, we never know when our financial situation is going to change. For example, you might find yourself in a car accident and out of work due to an injury. While you will want to contact someone for information regarding a car accident lawsuit, you also want to make sure that you are using the money you have wisely. So here are some ways you could be wasting money right now.
Netflix, Hulu, Amazon Prime… we have so many TV subscriptions, but how many are you actually using? Perhaps the show you got Hulu for has finished now, so that’s one subscription you could cancel this month. Are there apps you’re subscribed to, or magazines that you never get around to finding time to read? Perhaps you signed up for a free trial to see your credit score, and it’s been charging you ever since. Check out what subscriptions you are paying for, and cancel what you no longer need. Even if you’re saving $10 a month, that’s $120 a year.
Overpaying on energy suppliers
They say better the devil you know, but sometimes we can get a little too complacent. You might be paying too much on your energy bills, simply because you’ve not priced things up recently. Check out competitors to see if anyone is able to offer you a deal for switching.
Americans waste almost 40 million tons of food every year, and all that food equals big money. Commit to meal planning your weekly dishes and only buy the food you need. Look for recipes that utilize fresh fruits and veggies that are about to go off, and make sure you use everything you buy where possible. Remember that use-by dates are often recommendations, and some things are absolutely fine to use after this date, so don’t just automatically throw things away.
Buying stuff that you don’t need
Do you really need to buy bottled water? Or could you just use a reusable bottle and water from the faucet? Instead of buying a Starbucks every day, why not take your own coffee for a fraction of the price. Instead of buying books, head to your local library and borrow them from there instead. Small changes can really add up and make a huge difference.
As you can see, these mistakes can easily be made by anyone, and most of us just don’t pay enough attention to what we are spending our money on. With a little bit of extra effort and awareness, and changing some built-in habits, we could really make a difference to our finances and find ourselves a lot happier overall.