Ways of Money Wasting without Realizing it

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Money is a very complex thing, as it’s very hard to grasp how much money we really have, where it should be going, and where it really goes. Mainly because there are a lot of little things that we waste our money on, that we do not really think about. And the thing is that we do not really think about until the little light bulb in the back of our heads turn on, and tells us what we have done. There are going to be times where your ways of money wasting because you are not paying attentions and others where you are thinking you are saving money. Everyone has these moments, but if you want to waste less money, you need to know where you are wasting your money. Here are some of the most common ways you may be are wasting your money.

  • Deals

Finding some amazing deals can give you an adrenaline rush, and make you feel awesom
e for a little while, no matter what the deal was on. There is your problem, as you go looking for deals because you like the hunt, to find the best deal and not need the thing you bought. You are aware of why you want the item. If you are buying things because they are on sale, not because you need it or really want the item, and would have brought it even if it was not on sale, you are spending extra money, and not saving anything. There are much better ways to shop, than just shopping the deals, to get the best
price.

  • Extreme Couponing

You have mostly seen or at least heard of the TLC show called Extreme Couponers, and the crazy amounts of money they are “saving”. While most of that stockpile that many of those couponers have, they will never use and only got the items because they were free or cheap. Coupons are designed to make you buy products that you normally do not buy. If you can get an item that is normally $5 and you can get it for $1, after a coupon, you want to buy that item. Yes, you are “saving” money on the product, but are you really going to use that item. If you are not, leave it in the store, as it is a waste of your money.  The same is true when it comes to free things, are you really going to use it? If you are not, it turns into hoarding.

If you talk to any smart couponer, you will find that most only use coupons on the items they or their family use, or give the items to charity, if they get the item for free, and do not use it. So, if you want to get free items, and are not planning on using them, then donate it to your local food bank or other charity, as they may be able to find the item a new home.

  • Bulk

This goes hand and hand with couponing. Buying too many of the things you use in bulk can lead you to throwing out a lot expired products, if you are not careful. Most things come in bulk packaging now, and when you compare them gram per gram to smaller packages of that item, the bulk normally is cheaper. The main issue with buying things in bulk is when you cannot use the bulk size up in a timely matter, and then throw the extra out. If you are going to buy items in bulk, buy them only if you know that they will be used up, and if the items have a long shelf life.

Paper products like toilet paper, and can foods, are two examples of items that you can buy in bulk without wasting money. If you are not going to use a lot of the items in a timely matter, the smaller packs are normally a better deal.  Also, those “Buy More, Save More” deals are not really there to save you money in the long run.

  • Drinks

You would be surprised at how much money per month you are spending on coffee, bottled water, and alcohol. These drinks are one of the biggest money vacuum that most people do not think about. The best way to cut down on the money being eaten by drinks, is to use your kitchen. In most places, tap water is not a risk to your health, and you can make just as good if not better coffee and tea in your own home.

Our brains do play tricks on us when it comes to saving money, when we are really spending it. So, keep your eyes open, and ask yourself-questions before you buy. The more you are aware of what you are wasting money on, the easier it will be to overcome the extra spending.

About melyssaj

Melyssa Jackson has written 3 post in this blog.

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