It’s no surprise people waste a lot of their money. Butthere are plenty of ways to save on everyday costs, frombank fees to your favorite morning beverages. If you’re looking for ways to trim your expenses, here’s a list of 50common money-wasters you may want to ditch.
1. ATM Fees
Paying for ATM fees is like feeding your money intoa paper shredder. To avoid them, make a habit of carrying cash or take your business to a bank that doesn’t charge fees.
2. Bottled Water
Not only does bottled water cost more, many cities’ tap water is often as clean. Save the money for your utility bill.
3.Bulk Groceries
You’d think buying in bulk would save you multiple trips to the grocery store, but itmay not save you much time or money if you buy more than you need. To stop wasting food, try shopping more often. Here are more tips for saving on groceries.
4. Cell Phone Data
If a large chunk of your paycheck goes to cell service, it’s time forsome changes. Consider switching providers or downgrading to a lower-cost plan.
5. Coffee
Couldyou really save thousands by skipping your morning coffee? Maybe not, but you’ll definitely have more cashin your pocket if you curb that $5-a-day latte habit.
6. Fancy Gadgets
Why blowyour discretionary money on kitchen gizmos you’ll never use? Instead of splurging on the latest impulse buy, take stock of what you have athome and determinewhat you really need. You could even make extra cash by selling appliances you don’t use.
7. Flavored Beverages
Sugary beverages likefruit juice and soda don’t just makeyou gainweight, they could lead to brain damage, say researchers at Boston University. Those who drink sugary beverages are more likely to have poorer memory while those who drink diet soda daily are nearly three times as likely to develop stroke and dementia. It could benefit your budget and your body to cut back.
8. Gasoline
You may not be able to change your commute, but you can definitely save more on gas. Try using smartphone apps like GasBuddy, which show the cheapest gas stations nearby, and consider applying for a gas rewards card if you hit the pump often. Explore other money-saving options like carpooling, public transportation or bike commuting.
9. Electricity
To pay less to power your home, consider installing dimmer switches, ceiling fans and using LED light bulbs.
10. Hotels
Why spend more on hotels than vacations? You can easily save on your next hotel stay— search online for promo codes, shop around and makeoff-season plans.
11. Late Fees
Making a late payment not only results in costly fees, itcan alsotorpedo your credit. To avoid paying late fees, consider automating your billstatements, signing up for text and email reminders orpaying online.
12. Manis & Pedis
Frittering away $10 on a manicure here and $20 on a pedicure there can add up. Why pay someone for a serviceyou can do yourself? Save the manis and pedis for special occasions or do away with them altogether.
13. Magazines
Stop splurging on your favorite magazines at the counter and get a subscription already. You’ll save more and enjoy seeing theminyour mailbox. Conversely, if you’re buyingissues faster than you can read them, maybe it’s time to pare down.
14. Name-Brand Groceries
Don’t overpay for name-brand labels. Generic products cost less and boast comparable quality.
15. Overdraft Fees
You don’t need to pay for the privilege of spending more than what’s in your checking account, especially when it costs around $35 per overdraft. From adding a cash cushion to enrolling in online alerts, there are plenty of ways to say goodbye to overdraft fees for good.
16. Poop Bags
Spending $5 on a box of doggie poop bags? That’s a load of you-know-what. Try reusing old grocery or produce bags instead.
17. Ride-Sharing Services
Catchingan Uber or Lyft is great when you’re short on time (or too tired for public transportation). But thatmoney addsup. Score promo codes fromfriends or suck it upand take the bus.
18. Sandwich Bags
Spare yourself the cost of new Ziplocs and try reusing your old sandwich bags instead, or get a sandwich box.
19. Shampoo
Rumor has it we’re washingour hair too often. So ditchthe frizz — and the cost of new suds — by slowing downyour ‘poo schedule.
20. Smoothies
Just like coffee, smoothies are one of those tasty treats you can easily make at home.
21. Lottery Tickets
The odds are long, and no matter how much you spend, you’re not guaranteed to win.Put that money into your investments instead.
22. Airline Fees
Airfare is costly, and paying for things like blankets, headphones and peanuts only adds to the hassle. Consider changing howyou pack, flying low-cost carriers or signing up for one of those airline miles cardsthat can earn you rewards.
23. Gift Cards
All too often, gift cards go unused. A number of websites would be happy to buy them while other cards can be donated to charity.
24. Traffic Tickets
Traffic tickets are outrageously priced, and some municipalities send records of unpaid finesto collection agencies. Neglect them long enough, and your license could be suspended. Worse still, those tickets could mean a big increase to your car insurance premium.
25. Alcohol
Markups on beer at restaurants can be as much as four times the wholesale price. So it wouldn’t hurt to cut back. Consider making your drinks at home or checking out BYOB dining options to avoidpaying premium prices.
26. Tobacco
Your tobacco habit isn’t just draining your wallet, it’s harmingyour health. According to the Centers for Disease Control, adults spent nearly $170 billion on medical costs due to smoking-related illnesses.
27. Candy
Most candy has no nutritional value, and we know it’s bad for our teeth. Next time you get cravings, stay away from the vending machine. Better yet, keep some healthful snacks on hand to eat instead.
28.Gambling
The costs of gambling are nothing to sniff at, and certain behaviors, like using your credit card to chase an online jackpot, can damageyour credit if you’re not careful.
29. Credit Card Interest
Paying interest on your credit card balance is a poor use of money. Consider negotiating with your issuer for a lower rate, making monthly payments in fullor opening a low-interest credit card. If you’re determined to get out of credit card debt, applying for a balance-transfer credit card may be worth your while, if you can get a 0% promotional APR to save money while you chip away at the balance.
30.Payday Loans
If you don’t repay a payday loan as soon as you can, you could get hit with sky-high APRs,some of which are asmuchas 400%.Research alternatives like credit cards, personal loans or borrowing money from family or friends.
31. Foreign Transaction Fees
So many cards have doneaway with these fees, so why paythem? After all, theycan cost as much 2% to 3% of each purchase. Here’s a list of credit cards with no foreign transaction fees.
32.Simple Home Repairs
Don’t spend hundreds ona professional if you know how to fix that leaky faucet or air conditioneryourself.
33. Delivery
You may think you’re saving time by having lunchdelivered at work, but you’re paying a premium for the convenience. Order take-out instead and save the five bucks.
34. Cable
With all the streaming services out there, paying for cable is a thing of the past. Consider cutting the cord and commit to one or two subscriptions you’ll actuallyuse.
35. Books
You don’t have to drop money on books, especially books you’ll only read once. Make use of your local library or ask a friend to lend you a copy.
36. Unused Gym Membership
What good is having a membership you hardly use? Ditch the monthly paymentfor good and find an activity you’ll actually stick with.
37. Buying Lunch
Blowing $10 to $15 on forgettable lunches is a recipe forregret. Try giving these $2 lunches a try.
38. In-Game Purchases
As any Candy Crush fanatic will tell you, in-game purchases quickly add up. Disconnect your credit card and find something better to do.
39. Individually Packed Foods
Baby carrots? Sliced apples? Grab your chef’s knife and get chopping — there’s no need to pay for these items.
40. Full-Priced Clothes
If secondhand shopping isn’t your thing, you can still save money by browsingseasonal salesor keeping an eyeout for price drops.
41. Online Shipping
With all the promo codes out there, why pay for shipping?If you must order online and can’t avoid a shipping fee, consider picking up the item in store.
42. Holiday Gifts
Don’t rush out to buy when everyone’s shopping. Follow the sales.
43. Valentine’s Day Flowers
As withholiday gifts, there’s aright and a wrong timeto order Valentine’s Day flowers. (The worsttime:Feb. 14.) One study foundmid-January is the best time to order a dozen red roses.
44. Dry Cleaning
Not everything in your closet needsthe wrinkle-free treatment. In fact, many clothes do just fine in the washer and dryer. Be sure to check garment tags before you visit the cleaners.
45. Fad Exercise Classes
Ballet barre workouts may be all the rage now, but you’ll wish you had that $33 when they’ve gone out of vogue. Following trends is costly, sofind an exercise you’re going to stick with.
46. Rental Car Insurance
Why pay for insuranceyour credit card probably offers? Be sure to read the details so you know what’scovered before you get to the rental counter.
47. Closing Costs
From shopping around to negotiating with the seller, there are plenty of ways to save on your future home’s closing costs.
48. Mortgages
For many consumers, refinancing their home loan could help them save bundles. Of course, the best rates go to those with good credit scores, so be sure to check yours before you apply. You can view two of your credit scores for free on Credit.com.
49. Student Loans
Student loan debt isa major financialburden, but there are ways to lighten the load. Consolidation could alter your repayment period, while making payments before the interest kicks in could help you save extra. Be sure to research your options.
50. Taxes
Speaking of student loans, you may be able to deduct a portion of student loan interest from your taxable income by claiming the student loan interest tax deduction.
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