Almost all of us try to be as smart with our money as we can. We try not to overspend and keep frivolous purchases to a minimum. However, there are a few things that many people spend money on much more frequently than they should without even noticing it. These costs can really start to add up and have you wondering where all your money went. Let’s explore some things you are spending too much money on so you can keep an eye out for ways to save.
Beverages
Perhaps this is a strange place to start, but it’s a strangely common problem. If you are buying coffee from a coffee shop every day before work, or if you regularly buy bottled water, you are throwing money down the drain. Water can be just as good from a faucet or a filter pitcher, and you can easily cut out coffee expenditures by making coffee at home. Even buying a small espresso machine will cost you less over the course of a year than buying coffee every day from a shop.
Groceries
What this comes down to is simply a lack of understanding of the best ways to grocery shop. The first thing you want to do is plan out your meals for the week so that you know exactly what you need. This way, you won’t end up throwing things out that you forgot you bought one day. Also, be wary of buying name brand products—the generic versions are almost always similar and cost way less.
Clothing
Not every piece of clothing you wear needs to be brand new, nor do you need to throw out clothes right away if they are a little torn or dirty. There are plenty of ways to stretch your budget for clothing, including buying more from thrift stores and secondhand shops. These places often have clothes comparable to those at retail stores for a fraction of the price.
Electricity
When you’re low on cash, there is no reason to be using more electricity than is absolutely necessary. To make sure these costs stay low, turn off and unplug any electronics that you aren’t immediately using. You will be surprised at how much lower your electricity bill is when you simply keep the lights turned off and unplug some appliances.
If you recognize some of these things you are spending too much money on, thankfully, they are easy to deal with. In today’s world, every penny counts, so try to do everything you can to keep your money in your pocket.
