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The Biggest Wastes Of Money That We’re All Guilty Of


Even the most ‘tight-fisted’ people on the planet are guilty of wasting money and will probably waste cash in all manner of ways that could be avoided. The problem is our modern lifestyle which makes it all too easy to spend money without really realizing it.

waste of money

The money these days is mostly digital – we never actually come into contact with it and it comes in and out of our accounts so fast that it’s hardly even possible to keep track of it all. What’s your balance right now? If you don’t know, then chances are you also aren’t keeping a close eye on all the money leaving your account that could have been saved. Just like everyone else…

Here then we will look at the ways that almost all of us are guilty of wasting money regularly. By being more aware of these problems, you can opt to keep a closer watch on those money ‘leaks’ and ensure that you aren’t wasting cash unnecessarily. Read on to start saving money…

Energy

Not so long ago, energy costs were relatively negligible and it didn’t make too much of a difference whether you left the lights on or not. Unfortunately, though that’s changed in a big way in recent times and lots of us have been hit by scary energy bills in recent times. It’s time to stop wasting energy then – leave your TV on standby overnight, or leave your phone charger plugged in when you’re out, and you may as well be frittering money out of the window. This site has a lot of energy-saving tips to help you out.

Transport

There are countless ways that we could save more money on transport and most of us don’t make the most of them. When you get the train, for instance, have you got a railcard to benefit from discounts? Almost every rail network does them and they can save you a considerable amount if you use the train regularly. At the same time, if you’re making a one-off journey but you know exactly where and when you need to be placed, then you can save a lot of money by booking your journey in advance.

When traveling by plane meanwhile – in many cases you could save a lot of money by not taking on any luggage other than your hand luggage. Can you fit everything into a carry-on case? And of course when you drive there are countless ways you could save money – from driving in a more eco-conscious manner, to even topping up your fuel in the morning when the air is crisp. Because fuel expands in the heat you get more for your money when it’s cold!

Spare Change

Most of us will waste an inordinate amount of spare change simply because we don’t want to have to carry it around and it’s too fiddly to pay for things with. I’ve even seen people throw away their small denominations which have to be the epitome of wasting cash.

To start making better use of it then, keep your small change in a pot and then spend it at a self-service machine when you next shop for groceries. Most supermarkets will enable you to drop your cash into a dish and will then count it all up for you.

Sticking With Your Bills

Many of us will be perfectly aware that we’re wasting money on our various bills and debits but simply be too lazy to do anything about it. Almost everyone can save money on their phone bill, their internet, and their TV simply by switching to a better provider but that involves hassle. Set aside a day one weekend to look into this and change over to the best deals you can find. Otherwise, you will be falling prey to ‘inertia selling’ which simply means relying on you being too lazy to switch over.

When it comes to mobile phone contracts, there is another even more severe way that many of us will waste money – which is by joining a contract to get a ‘free’ or discounted handset. These offers seem like a good deal, but in the long term the premium contract ends up costing much more so it’s just a big waste of money. You’re better off coughing up now and buying the handset then getting the cheapest contract possible.

All these things could be costing you money without you getting any benefit in return. Make the changes advised and you can start saving money conversely without any change to your lifestyle.

Warren Paine

Warren is the senior mortgage loan officer who has worked in mortgages and loan industry since 1995. He study in Harvard and major in Finance with a Bsc. Honor Degree. He possesses a Paralegal Certificate as well.

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