How Most People Waste Money Nowadays

A basic audit of your expenditure habits can expose certain ways in which you are wasting money. Don’t be too concerned, if you realize that you are wasting money and trying to change your ways, you’re on the right track. The key thing to keep in mind here is that a few dollars spent here and there can easily add up to thousands of dollars over a year period. The following is a few points of consideration for you to assess if you are indeed wasting money.

People would often tell you to rather buy new products than used products, because of devaluation of the item. However, if you purchase a second-hand car that was built within the past 5 years, you'll be able to save a lot of money. Not only will you pay a lesser amount for the car, but your insurance costs will also be considerably less. As long as it is rather new car, you be able to find parts and trimmings quite easily. You can also consider buying low risk second-hand items like books and DVDs. Keep in mind, that it is always better to buy mattresses, electronics and safety equipment new.

This might be a statement that would shock most, but it’s the honest truth: If you have a credit card, you are wasting your money. If you have the money available, rather settle your credit card debt each month. This could also save you a whole lot of money over a year. Rather try to get into the habit of using your credit card like a debit card, only spending money that you have available.If you currently have credit cards debt, take out a consolidation loan, to alleviate the repayment process.

You may not realize how much money you are wasting on your little pleasures like alcohol and cigarettes, but countless people waste hundreds of dollars each month. These products are not only unhealthy, but come at a hefty expense. In the end, you're going to pay for these guilty pleasures, whether it is for medical expenses in the future or for the actual products. Do yourself a favour and go buy a quit smoking kit. A simple thing to cut expenses is by living healthier. Sounds crazy, but it’s the truth. It’s expensive to live unhealthily.

There are numerous ways people are wasting money and not even knowing about it. For instance, if you keep your money in a simple savings or checking account, you're missing out on high interest rate earnings. You would be better off putting the money in a Certificate of Deposit (CD) account.

These are only the most common ways in which people waste money. There are literally thousands of ways to spend your money uselessly. One think you should remember, is to always be completely logical. Ask yourself: “Do I really need this?”

Muun-unit is a hippie, eco-warrior, and nature-loving kind of guy - who enjoys travelling the world and cooking gourmet dishes. He is passionate about everything “green” or eco-friendly, and believes that everyone should do their part in conserving our beautiful environment.