No matter how much you budget, you may still be wondering where some of your money is headed each month. Without you even realizing it, you may be wasting thousands of dollars every year when you don’t have to here. Here are some ways that you may be wasting money.
While buying a bulk is a good idea for non-perishable items, such as paper towels, uneaten bulk food items is a huge waste of money. To help combat this waste, try your hand at meal planning. When you go shopping, only buy what you need. Leftovers can be used to take to work for lunch the next day, saving you even more money.
While it’s a great idea to carry water around with you during the day, buying bottled water may just be draining your bank account. It has been estimated that the average family of four spends about $400 a year on bottle water. To negate this, invest in a reusable bottle or cup for every member of your family to take with them. For your own home, a water filter can give you the water bottle taste without the price tag or waste.
Even if your electronic devices are turned off, they may still be using power that you have to pay for. If an item isn’t in use, unplug it. If you have multiple items that can be unplugged in close vicinity, such as an entertainment system, power strips can help make the process of unplugging quick and simple.
UNUSED MEMBERSHIPS OR SUBSCRIPTIONS
You had the best intentions when you subscribed to that newspaper, but now it’s just money disappearing from your account. At the end of the month, take a look at all of your credit card and bank statements and see where your money is going. If you’re paying $60 every month for the gym and you’re not going, cancel it.