Spending money is a way of life. But it stinks to have to keep spending money left and right when you want to save up for something big. But you don’t have to waste money on every little part of your life. You are spending money foolishly without even knowing it if you spend money on any of these 6 things.
Many banks are now charging a fee for having a so-called “free” checking account. But not every bank does this. If your bank is charging you money to have an account with them, drop them like a hot plate of tamales right away. You have a better chance of not paying any fees if you join a local credit union.
But what if you’ve been with your bank for a long time and you’re otherwise comfortable with them? Then in that case look into ways to avoid paying the monthly fee. Some will waive the fee if you set up direct deposit with your employer. Some waive the fee if you keep a large balance (such as $500) on the account at all times.
There may be little wrong with buying a lottery ticket every now and then. After all, if it’s fun then it’s a cheap form of entertainment. But when you end up buying a ticket every week (or multiple tickets) then it’s almost as bad as throwing your money down the toilet.
As I’m sure you’ve heard, you have a greater chance of being hit by lightning than winning the lottery. Yes it’s legal, but the odds prove it’s just not smart to play.
Having to pay those pesky late fees is a real drag. It’s like your money is going straight into a black hole. You end up blowing $35 and you don’t get anything out of it. But there is a way to avoid having to ever pay late fees.
Set up automatic billing with each company. Every month they will deduct the amount owed from your checking account or credit card. Now you don’t have to remember to pay your bills and you’ll never have to deal with late fees ever again.
Getting your clothing professionally cleaned is a major expense that is largely unnecessary. Most dressy clothing can handle a wash in the washing machine with cold water. Then just hang to dry instead of putting it in the dryer.
To never spend another dime on dry cleaning, simply do not buy clothing where the tag says dry-clean only. If you do you’ll be well on your way to reaching your all of your financial goals.
Stores are now starting to offer you extended warranties on your purchases. They are only offering you this because it benefits them – not you. They know that most people will never come back to get their product fixed. This happens because you either forget or the product is outdated. TV’s, smartphones and computers are outdated after a year anyway.
Unbeknownst to you, the product you purchase already carries a 1 year warranty straight from the manufacturer. Buying an extended warranty for another 2 or 3 years is such a waste of money because most products will either break down the first year or will last you for a lifetime.
Movie Theater Snacks
A movie theater makes most of their money at the concession stands. Popcorn, soda, candy and a hot dog at $6 each means that a visit to the movies can turn into quite the expensive trip. For a family of four you’ll easily dish out a $100 bill for a night at the movies.
So instead of emptying your pockets of money and filling your mouth with garbage, eat before going to the movies and then eat again afterward. A movie is only going to last 2 hours tops so you surely can wait.