You wouldn’t flush money down the toilet on purpose. 🚽 Don’t do it by accident, either! If you’re not careful, those dollar bills fly right out of your wallet and into a black hole. 💸🕳️
If you find yourself asking, “hey, where did my money go” more than you’d like, you could be falling for a trap (or two)! 🥴
Here’s Five Fast Facts on where you might be wasting money:
- 🥪 Food Fight - According to the USDA, as much as 40% of the American food supply ends up in the garbage. Yikes! Throwing away food we don’t eat isn’t just bad for the world…it’s bad for your budget. Even if you throw away a few dollars of food waste a week, it can add up to hundreds of wasted dollars by the end of the year.
- 🚗 Road Rage - Running late for work? Your aggressive driving could be burning a hole in your wallet. Speeding and rapid acceleration/braking are real gas guzzlers, lowering your mileage by 30-40%! Oh, and when you’re a crazy driver, you’re at risk for more accidents, which drives up your car insurance. Drive safe. Save your budget (and your life).
- 💰 Fee Fi Fo Fum - You can’t always avoid bank fees, but you can avoid the ones that come from not paying attention. Some banks charge fees if your account balance goes below a certain amount. You might also get charged fees for making too many withdrawals or transfers. And we can’t forget about overdraft fees.
- ✅ Unsubscribe - When’s the last time you checked your subscriptions? Are you paying for a gym membership you’re not using? Don’t forget about apps and streaming services. On their own, many subscriptions don’t seem that expensive, but they do add up. Take a little time over your morning coffee and cut off anything you’re not using.
- ⚡ Electric Slide - You might think keeping your ancient TV is a way of saving money, but old electronics can really eat up power. Newer appliances are more energy efficient, so it might be worth springing for the new model. You’ll save on utilities over time. Don’t forget that plugged-in devices use power, even when they’re turned off. Use a timer or a power strip to save electricity when you’re not using your stuff.
🔥Bottom line: We all get fooled now and again, but saving money is all about being smart! The key to avoiding money wasting traps is to be mindful of how you spend. When you’re in full control of your finances, you’ll wind up with more to save for those goals. Heading to the big game for a tailgate? Read our money-saving article before you hit the lot!
Where do you waste the most money?
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