Save a lot of Dough By Quitting These 6 Common Bad Habits

By: Tracy Phelan

Save a lot of Dough By Quitting These 6 Common Bad Habits

Tags: Savings

Save a lot of Dough by Quitting These 6 Common Bad Habits

6 Costly Bad Habits You Need to Kick

Do you wonder where your money goes every month? You know you work hard for it, but there never seems to be enough once Uncle Sam takes his share and your bills are all paid. It’s almost as if it’s gone before you even bring it home. If this sounds familiar, keep reading. It’s very likely that you’re guilty of a few bad habits that are costing you money.

1. Using the Wrong ATMs

We all know that using our own bank’s ATM is free, but when we’re in a hurry, using another bank’s ATM – despite the fee – is more convenient. Paying a couple of dollars extra may not seem like a big deal, but over time, it adds up, especially when those fees are on the higher side.

2. Failing to Collect Your Change

How many times have you gone through the drive-thru, gotten a handful of change back, and simply tossed it into the center console or the bottom of your purse to jangle there until you need a few coins for the parking meter? While you haven’t actually thrown the change away, not collecting it in a single place (like a jar) can cost you potentially hundreds of dollars each year. Those few coins here and there can add up quickly if you take the time to collect them.

3. Allowing Food to Spoil

It’s easy to do. You buy fresh produce with good intentions only to throw it away a few days later because you didn’t use it before it spoiled. More than 100 million dollars in food per year is thrown away. That’s money out of your own pocket, too. Try to buy only what you know you can use and be sure to check expiration dates religiously.

4. Paying Late Fees

Life is busy, so if you have to pay a few dollars in late fees for convenience sake, so be it, right? Wrong! If you add up what you spend each month in late fees, you may be surprised to see it adds up to quite a tidy sum. Do your best to avoid late fees altogether to help your bottom line.

5. Paying for Unused Memberships

How often do you actually sign into Netflix and watch movies? What about that gym membership? When’s the last time you even hit the gym anyway? The road to success is paved with good intentions but paying for memberships you hardly or never use is just wasteful. Take a good look at all your monthly memberships and get rid of the ones you never use to save yourself a nice sum each month.

6. Buying Name Brands

Everyone has their favorite products, but it’s highly likely you could switch out a couple of those name brand products for the generic version and never know the difference – except for that extra money you’ll see in your bank account. Read the labels. Most generic products contain the same or similar ingredients as their name brand counterparts.

You know you work hard for your money, but if you’re guilty of any of the bad habits above, you could be wasting it without even realizing it. Do your best to correct the bad behaviors that are costing you your hard-earned moola.

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