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Tags: finance, personal finance, simple ways to waste money
 With the way the current economy is going, or not going depending on who you ask, it is no surprise that for most of us the goal is to save. So you do budgeting and you follow it but regardless of that fact we all have spending that for one reason or another we aren’t even noticing—simple ways to waste money.
There are many ways to waste money and once you’ve read the examples that I will talk about you will probably realize your doing something similar. Let’s begin shall we? Open your refrigerator. Smell anything funky, like a cross between sweaty socks and a dead rodent? Ok maybe that’s a little much but unless you’re a mad scientist and that smell is normal for you, that smell is an indication of spoiling food.
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Unfortunately, most of us buy more that we actually use so we wind up throwing away old veggies or produce without even touching them—basically it’s like you’re throwing away cash. And it’s not like food is cheap, especially if you’re into organics. So before you go shopping the next time plan ahead by making a list of what you think you will be using based on last week’s experiences.
And speaking of sweaty socks, if you go to the gym staying fit may be putting a hole in your finances. Depending on where you live, personal fitness gym memberships can cost upwards of $100 per month, multiplied by 12 and you can say goodbye to $1,200 every year.
Also, Physical trainers aren’t cheap, going for about $50 to $75 per session, while exercise clothing can range anywhere between $20 to over $100, depending on your styling preference. So buy a bike instead. Or better yet simply walk around your neighborhood—it’s free and at the same time you get to meet with your neighbors on a regular basis.
And of course when you go to the gym you usually drink bottled water right? That right there is another way to waste money. Would you believe we spend over $15 billion on bottled water annually? Perrier, Evian, Aquafina, or Dasani—these are just some of the major name brands in the market today.
The thing is bottled water is not any safer than your regular tap water. And tap doesn’t cost up to $5 per gallon. You do the math—between free and paid, where will you waste money on? And of course once you get home from the gym you probably take a long hot shower right? 30 minutes or more right? Yes it does feel good to take a hot shower to relax the day away but you waste money for every minute of your 30 minutes of showering.
Come on, 10 minutes should be enough and a cold shower can also be invigorating. Savings start in the home. At this time our motto should be frugality, thrift and fiscal conservatism. Waste money when you have money to burn. Until then, don’t throw it out with the waste water.
About the author
The author of this article Rick Goldfeller is a successful underground Financial Analyst who has been advising and coaching individuals for many years. Rick recently published a book on how to manage your money and attract Wealth and Financial Freedom. More info on his Finance Planning course is available HERE.
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