In this article you will know what are the Innecesary expenses that prevent you from saving and getting what you want.
It is very possible that at some point in your life you have thought about saving. And it is also very possible that you have said: “I do not have enough money to save”.
Let me tell you that you do have it, what happens is that you are incurring unnecessary expenses that you can avoid if you use the right ways to save.
The first thing you should do is identify what are the expenses that impoverish you and that you can eliminate or reduce. Below you will find the 13 most common unnecessary expenses.
13 unnecessary expenses that end up with your money and prevent you from saving.
1. Cable TV account.
This is one of the most common wasteful expenses, and unfortunately, it’s in our DNA. We grew up watching television and we are very used to it. However, it is a habit that is taking a lot of money from you.
It is clear that you want to have moments of rest, so you can take the habit of reading as your moment of leisure. But if you absolutely must watch TV, a Netflix subscription may be a cheaper option.
2. Expensive gifts.
It is normal that you want to give your loved ones “the best”, but keep in mind that “the best” should not be the most expensive.
The ideal is to look for the gift in advance, so that you can have many more alternatives and look for cheaper gifts. Don’t let the day come, because your options will be much more limited.
3. Pay full prices.
You don’t need to buy the latest collection of clothes, nor should you have the latest cell phone. Don’t overpay just to be fashionable! If you have patience for a few months, you can get the same products at a better price.
You can also look for discount coupons or research which provider offers discounts on the product you are looking for.
4. Unnecessary insurance.
Added to many banking services are insurance that you may not need and that they are taking money from you.
You should also keep in mind that you can have insurance that covers many needs at the same time; so it does not make sense that you are paying 2 or more insurances that cover you for the same thing.
You may also be interested in: 10 tricks to increase the speed of your cell phone right now.
5. Expensive gym memberships.
Thanks to New Year’s resolutions, many people pay for year-long memberships. Unfortunately, they don’t have enough discipline to be consistent and get their money’s worth. And that’s when it becomes one of the most common unnecessary expenses.
My suggestion is that before paying for a whole year, do the tests with a few months. Also, before going to the most expensive gym, do your research on other gyms. Surely you will find a cheaper one that gives you the same benefits.
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6. Cigarettes and electronic cigarettes.
The cigarette is one of the most difficult unnecessary expenses to identify. But it’s there. One pack at a time, you’re not saving money that you can use for something better.
In the best of cases, leave that vice; but since it is not alone say it and do it, try to reduce consumption little by little. Set goals and meet them!
7. Credit card interest.
You must be very careful with the use of your credit card. In fact, one of Dave Ramsey’s financial tips is not to use them.
In my opinion, it is okay to use them to take advantage of some of their advantages, such as points programs and discounts. But make purchases always at one quota. In this way you do not pay more money for the products you buy.
You may be thinking that the interest is not significant if the purchase is made in 2 or 3 installments, and you are partly right. The point is that to the extent that you begin to “give yourself permission” to make purchases at more installments, it is more likely that you will not keep rigorous control of your expenses. And when you realize it, the sum of interest becomes important.
8. Cellular accounts and data plans.
Check very well how much you are paying for your cell phone plan and what you are getting in return. Then do 2 things:
- Analyze if you really need that amount of minutes, data and text messages.
- Research prices on other carriers.
If you realize that you can live with less gigabytes of browsing and that another operator offers you the cheapest service, you can save money.
9. Go out to eat and ask for addresses.
I know how good it is to order the food you like the most at home. Knowing that you don’t have to get up and cook. You just have to wait to try what you want so much… I know.
But I also know that it is one of the unnecessary expenses that end our pocket the most; like going out to eat.
My recommendation is that you do it only when they are special occasions. For the rest, make an extra effort to cook at home. Apart from being cheaper, you eat healthier.
10. Buy name-brand products.
In my opinion, this is the sin that most commit the most. It happens a lot with clothes, for example.
If you are looking for clothes to go to the gym, it does not have to be all adidas, Nike or Under Armour; there are many other brands that offer you practically the same thing and at a much lower price.
If you want to avoid unnecessary expenses, research brands, reviews and costs; and with that information you can make a much better decision.
11. Pay third parties for simple fixes.
I don’t know if it happens to you, but in my case, I like to investigate and learn how to do things. On Youtube and different blogs you can get almost everything I need. This way I save money and learn.
Of course, there are things that I do not dare to do for fear that the remedy will be more expensive than the disease. For example, a while ago an LED TV stopped working, it sounded but the screen was completely dark.
I was tempted to open it up and see what happened. Fortunately, I opted to call a technician to do the check. When I saw everything he had to do and the care he took to do it; I was grateful not to be stubborn, to do it myself and hurt him more.
This tip is for simpler fixes. Where you can save money without any problem.
12. “Occasional” coffees.
If you are one of those who always buys “a coffee” or a red when you leave home, do the math of how much you are spending per month; you may be surprised.
Since it is a “small” expense, we tend to ignore it, but that does not imply that it does not affect our economy.
If you really can’t stand the urge to take it, take it from home. You can get a container that retains heat, and in the end you will save a lot of money.
13. Discard products that have just expired.
This advice is not for you to eat rotten food. Just so you can be a little more lax with product expiration dates, in some cases.
For example with the food that is in the freezer. Being at low temperatures, food is preserved for much longer; so you shouldn’t be too strict with expiration dates.
Or for example you have something that expired the day before. Don’t throw it away. Eat it fast. If it is well preserved there will be no problem.
You should also take into account that on some products it says “expiration date” and on others it says “best before”. This implies that after the date indicated, the product may lose some properties or characteristics in its appearance or flavor; but it does not imply that you cannot consume it.
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Conclusion.
Many unnecessary expenses go unnoticed because they are low and slip through higher expenses. However, that does not mean that they are not serious for our economy.
That is why it is important that you eliminate them and learn how to save. We hope this information will be of great help to you. 🙂
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