by Susan Paige
It is estimated that the average person in the United States spends almost $1,500 each month on wasted items and services.
This money quickly adds up throughout the year and can prevent you from reaching your financial goals.
Instead of watching money walk out of your wallet, you can do something.
Continue reading to discover a few things that are a waste of money, so that you can put it towards better things!
1. Bottled Water
If you are still buying bottled water, even when you have access to clean water, you are wasting your money!
Swap out that bottled water for a recyclable cup that you can refill as many times as you would like. Not only will getting rid of bottled water help you control your finanaces, but it will also help the environment!
2. Name Brand Items
A large waste of money that you can easily get rid of, is name brand products.
Name brand products tend to cost more, simply because of their name! Instead of wasting your money, you can purchase the off-brand option. These typically have the same ingredients and some people even prefer them!
With Netflix, Hulu, and Amazon Prime, you can stream nearly any show or movie you can imagine.
If you find yourself streaming, rather than watching your cable channels, you may want to reconsider paying for it. Cable TV is a large waste of money for some, especially when you can get the local news alerts on your phones or tablets.
Check your streaming platforms, to see if you can purchase channels if you are missing something from cable TV. Hulu Live, for example, can access all of your local news and sports!
4. Lottery Tickets
Do you find yourself constantly scratching off lottery tickets or scanning them to see if you’ve won anything?
Lottery tickets are one of the biggest wastes of money. Most people spend more on getting their tickets than they get in return. By frequently buying these tickets, you are losing out on a lot of money that quickly adds up.
5. Gym Membership
If you are getting money pulled out of your account each month for a gym membership that you rarely use, you are wasting money.
Although $20 doesn’t appear to be much, it adds up over time and the money can be put towards other things. You can put the money towards an in-home gym so that you don’t have to leave the house!
Another reason why gym membership are a waste of money is that the world is your gym. Grab your shoes and run around the park or play soccer with some friends to break a sweat.
Know What Is a Waste of Money
Identifying what is and isn’t a waste of money in your life can be difficult.
With the help from this guide, you can evaluate the most common items people waste their money on and see if you are too. By eliminating wasted money, you can pay back debts, save money for the future, and purchase the more important things.
Be sure to check out our blog for more articles about saving money and getting control of your finances!