Finance and Law

The Five Most Common Things We Waste Our Money On

waste of money

Have you ever really thought about what you buy in the shops? When standing in the queue at the shops, we often toss in the nice-to-have chocolate bar. But what if instead we saved the money we were going to spend?

Here is a list of the five most common things that we waste our money on:

waste of money

Number One – Bottled Water

With all the fresh spring water, water falls and snowy mountain tops, staring at us when we buy bottled water, it comes as no surprise that we pick the nicest looking bottle of water. However, the nicest looking bottle is also the most expensive bottle.

Instead of buying bottled water for everyday use, invest in a water filter and plastic water bottle. Keep the water filter in the fridge and always have your bottle full for the next day’s outing. This will ensure that you are not tempted to purchase cold bottled water, since you already have it on hand.

Number Two – Washing Clothes

Well it is true that a hot wash cleans your clothing more effectively, you should only really put the machine on ‘hot wash’ when your clothes are really dirty. Otherwise, have your washing machine set at a lower temperature and save on your electricity bill.

Furthermore, save money by having clothing in the sun to dry and not simply throwing it in the tumble drier. Therefore, put the wash on as soon as you wake up and by the time you leave for work, you are able to hang out the washing and let it dry during the course of the day.

Number Three – The Cheap Items

A common thought we have is rather buy the cheap shoes, it saves you money. Well the truth is that the cheap items are often not of the quality that you require. Instead of buying the cheap pair of shoes, purchase the more expensive brand shoes that will last longer. Besides wouldn’t you rather make the trip once a year than every two or three months?

Number Four – The Phone Bill

When buying your cell phone, instead of thinking about the flashiest option, rather go for something that will suit your needs and budget. The sales consultant is designed to tell you that you need the one thousand sms and free minute bundle. The truth is that you do not need it and it only makes you buy the more expensive phone.

Do your research before buying the phone and do not let the sales consultant sway your opinion. Remember to double check the exact monthly costs as you do not want to be caught having to pay double in your second year of the contract.

Number Five – Fast Food

Fast food lives up to its name, it is quick and easy. However, fast food is also nearly double the price of a regular meal. Instead of buying the fast food item on the way home from work, prepare your meals in advance and have it ready to heat and eat when you get home at night.

This will not only save you money, but your waist line will thank-you for skipping the greasy chicken wings.

In conclusion, saving money is easy when you become aware of your expenses and where you are wasting money. Ensure that you take the money you do not spend and put it into a savings account, it might seem like pennies now, but in a year’s time you will definitely see the benefits.

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