You are earning ok, but it seems that you can’t save enough. That only means one thing. You are spending so much on unnecessary things. Let us call these ‘things’, money wasters. In this brief post, I’ll write some of the most common money wasters we encounter. I bet that a lot of readers would feel guilty splurging on things listed below.
Ready to know the money wasters we should look out for? Without further ado, here they are.
Overpriced coffee. You think you’re cool walking with a Tall coffee on one hand in the busy streets of the city? Congratulations. You just spent on a ‘money waster’. Perhaps, I’m just not a coffee lover, but I think that most coffees taste the same, even without the brand and the logo. I suggest that you make your own coffee. That can be a lot cheaper and you’d save huge amount of cash in the long run. It wouldn’t hurt to pour hot water and to stir your own hot beverage.
Unused membership. Do you have a membership for gym, for a supermarket, or for anything? Are you using it on a regular basis? If not, then again, you are spending on a money waster. I have friends who got a gym membership at the beginning of the year determined to have a better lifestyle. But just after 2 months, you can see them pigging out steaks rather than hitting the gym. I know it’s fine to binge on food once in a while. But the thing is, they totally neglected their gym sessions and they still need to pay for the monthly membership. What a waste of cash!
Too many cars. Are you driving a posh car? If you are damn rich, then by all means, drive a Ferrari. But if you are an average earner, don’t get luxurious cars. Don’t get more than 2 cars. Remember that having your own cars can be very costly. You will have to fill its tank and you will have to allot money to maintain it. If your trusty old car can take you places, there’s no need to change that yet.
Absurd gadgets. Gadgets can be very tempting most especially if your friend brags about its applications. But you have to control yourself. Not all gadgets and gizmos are cool. In fact, there are some which I would consider absurd. You don’t have to ride in the trend of having the most expensive i-phones. If your old android serves you well, you can spend your cash into more valuable items.
Costly wardrobe. Not because Kate Middleton has an LV bag, you need to have it too. And not because there’s a saying that ‘women can’t have too many shoes’, you will take that literally. A true ‘fashionista’ knows how to mix and match clothes even with limited choices. If I were you, I will get the classic garments and stick to those. It will NEVER go out of trend. If you want to add spice on your wardrobe, learn how to accessorize. That’s the secret.
Unhealthy foods. Cut down the junk food and that fattening muffins. I’m not saying that you need to say goodbye to these sinful foods. As I have said, you just need to cut it down. Most of us spend so much on chips and candies. And then we get fat and enrol in a gym class (if unused, can be considered a money waster too). What a crazy cycle!
You need to live smartly given the financial challenges a lot of us encounter. Determine your money wasters and try not to spend much on those.
Jessica Clarke sure knows how to spend on valuable things. For now, she is a content evangelist for Monkey, a charitable car insurance comparison company. Instead of spending your money on overpriced coffee and on expensive clothes, might as well get a good insurance.