How To Save Money On Things You Probably Don’t Need
It is a common habit for many people to evaluate their finances annually to understand whether they are doing well. They even try to ascertain any expenditure which they should be cutting down. Going through this exercise, many people notice wasteful expenses that can be avoided. Surprisingly, they neither take any action nor make changes to their lifestyles. Rather than adopting this attitude, you should concentrate on the wasteful and avoidable to make savings for a rainy day.
Let us look at some of the wasteful and avoidable expenditures.
The Daily Coffee
Many people visit outlets such as Starbucks for a coffee every day. In most cases, they are also accompanied by their spouses. A cup of coffee from Starbucks costs around $5. When a couple makes a purchase, the minimum they will spend is $10. The annual expenditure for coffee at Starbucks combines up to $3650, which can be used for other purposes. Coffee that is brewed at home will cost fewer, but will not take away the pleasure of having it.
Competing With Others
People commonly look to their neighbors and decide to have every item the neighbors own. They indulge in unnecessary expenditure just to complete with other people. What they fail to understand is that their envy and jealousy can never be satisfied. People would be better off if they tried to stop fooling themselves into believing that they would be happier with more stuff.
Spending Money On Books You Will Never Read
If you are a fan of books, you may notice some phenomenal deals being offered on great books. It is advisable to rethink whether you are going to read every single book you purchase. Don’t waste money on books you will never read. The cost may be as low as $1.99, but if you are going to buy one every other day, rest assured he will have wasted a substantial amount by the end of the year.
Not Making Payments When They Are Due
It is a popular habit for many people not to pay the full amount due on their credit cards. Instead, they prefer making a partial. What people don’t realize is that credit-card issuers are imposing extra charges on the unpaid dues. This habit has put countless numbers in trouble because the overdue payments keep attracting interest. It may even make the cardholder default in the payments altogether.
A better option would be to use the card discreetly in line with one’s financial capability. Also, complete any payments due without leaving a balance pending. Credit-card companies generally wait for you to begin overspending because it gives them an opportunity to make some additional revenue by charging exorbitant interest rates. This is a waste of money which you should avoid at all costs.
Stay Away From Extended Warranties
The salespeople at the store will offer you an extended warranty for any purchase you make. They will go ahead to give you a long list of reasons why you should be making the investment. This may tempt you to but the extended warranty, but be warned. It is a wasteful expenditure that can be avoided by buying quality products. Most importantly, a three-year warranty offered often overlaps the manufacturer’s warranty. Therefore, what you are purchasing is actually some additional time, which may not suit your needs.
Plan Your Meals
If you have never considered planning your meals, you should begin doing so right away. You’d be surprised at the amount of food that is lying in your fridge or freezer. Typically, you may rush out for shopping even when you have a week full of leftovers in the refrigerator. By planning for meals, you can cut down on unwanted expenditure. You could even save plenty of money during the year.
Avoidable and wasteful expenditure also includes offers made without a request, particularly from cell phone companies. They are just additional services that are charged yet that could come at a discount. You need to use your imagination to understand how you can stay away from them.
More in LifeStyle
Here is All You Need to Know About SRW, A Brand Supporting Women in Business
Soul Rich Woman Filipino women entrepreneurs who are members of Soul Rich Woman, an online business platform, have chosen to brand...November 24, 2018
Meet The First Ever Korean Pop Act To Hit Number One In The US
Back in 2013, BTS band started its career with a question ‘What’s your dream’. Now in 2018, after 5 years of...November 24, 2018
‘Maleficent 2’ Is On The Works! Find Out Who Will Be Joining The Cast For The Sequel
Disney has managed to not just make their own adaptations of the classic fairytales over the years but also manages to...November 24, 2018
Scarlett Johansson Tops List Of Highest-Paid Actresses In 2018
When you’ve got all the fame and fortune, almost every in would think that you’ve got it all, that you can...November 22, 2018
Find Out What Is The Worst Black Friday Incident And How You Can Stay Safe This Year
Thanksgiving is finally here and people are celebrating it with their friends and families. The turkey is out along with the...November 22, 2018
The Guiding Communication Principles Of Great Leaders
One thing great leaders have in common is great communication skill. Any speech made by a great leader is an avenue...November 22, 2018
Factors You Should Put Into Consideration When Purchasing a Luxury Vehicle In Dubai
No doubt that there are a lot of luxury cars from different brands on the roads of Dubai. Seeing these brands...November 22, 2018
‘Solo: A Star Wars Story’ Becomes The First Film In The Franchise To Flop
The Star Wars franchise go way back and it has indeed managed to gather its own fandom over the years. Even...November 22, 2018
A Look Inside Coco Prive: Where The Rich Go To Unwind
A look at Coco Prive Island Billionaires also unwind and take breaks from endless work hours to refresh their nerves, rejuvenate...November 20, 2018