What Are You Wasting Your Money On?

Posted: February 22, 2017 at 8:43 pm by Skip Kelley

Have you ever felt like you’re just throwing your money away or that your wallet is hemorrhaging cash? Well if you have, you’re not alone. It’s inevitable that we’re going to spend money but being more aware of what exactly it is that you’re wasting your money on may just help save you a few extra bucks in the long-run.

Jackpot!: Playing the lottery or gambling can be a huge waste of your money. Sure you can get lucky and win big but your chances are slim. It’s estimated that on average American’s spend $72.1 Billion on the lottery and gambling per year!

It’s In Your Cup: The average Starbucks drink costs about $4.75. Let’s say you get a cup of your favorite drink whipped up by the barista 5 days a week; that’s a total of $1,244.50! Imagine what you could save if you just made a cup at home every day…

Grocery to Trash: It happens to everyone – a tomato gets moldy, the sour cream expires, or you didn’t feel like eating the left overs again so you tossed them in the trash. From those moldy, expired and unwanted leftovers, Americans throw $2,000 in food alone away every year!

Bottle-It-Up: Ahh, the convenience of bottled water. It’s nice and easy to grab a bottle when you’re on the go but the truth is, it costs around 2,000 times more than drinking tap water. While the convenience may be hard to overlook, do some research and buy a water filtering system to save yourself some money.

ATM Fees: We’ve all done it – needed cash right then and there so instead of finding the nearest ATM that belongs to your personal bank, we pay the $3-$5 surcharge. Try to be more cautious and carry a little bit of cash on you at all times so you won’t find yourself in a situation of urgently needing to spend a few bucks just to get a few bucks.

It’s ok to enjoy the good things in life, in fact, I would even encourage it. But it’s also important to be aware of exactly what you’re spending your money on and what you might be wasting your money on. These are only a few of the many, many things we can easily change in our lives to help save us money each year. While the $4.75 coffee a day may not seem like a steep price to pay, it adds up in the long run and can significantly change your financial well-being!

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