Ways You're Probably Losing Money | Get Financial Freedom Tips | Transform Your Financial Future


Thursday, January 4, 2018

Ways You're Probably Losing Money

If you’re not taking the appropriate steps to make sure your budget is in order, then chances are, you’re losing money. However, you could be doing so many more things that could be leading to you losing cash in the long run. 


Let’s talk about a multitude of ways you could literally be throwing cash down the drain, and how you can stop:

Failing To Maintain Your Assets

Maintaining your assets, or the things you consider to be assets at least, can help you to save more money in the long run. Take your home, for example. If you’re not taking the time to make small repairs on your home and keep things running smoothly, you’ll no doubt end up spending more money in the long run. Your car too. If you’ve driven for any amount of time, you probably have a good idea of how expensive cars can be. Car maintenance can really add up, especially if you leave it too long. Making sure you protect your assets and do what you can to maintain them can help you to save money in the long run.  

Being Careless

Being careless in general could result in losing money. Do you check your receipts after you’ve been to the store? You may not have gotten a deal you thought you were getting, or you may have been overcharged for an item. Simply scanning things over before you leave is always a good idea. It may seem petty, but it all adds up. You want to make sure you’re not taking a lackadaisical approach to your health either. Medical bills don’t come cheap, so although you may need to spend more on vegetables in the short term, you’ll be glad you did it in the long term. Driving safely is also imperative, unless you want to fork out the fees for an experienced accident lawyer in the event something does happen. 

Not Coming Up With A Sticking To A Budget

Coming up with a budget and then sticking to it will help you to go about your day with little to worry about. Make sure you know how much you have to spend on certain things, and account for savings. Building up an emergency fund is always a good idea. 

Falling For Supermarket Tricks

The supermarket, and stores in general, tend to play tricks on consumers to get them to spend more. For example, they arrange things in a way that makes you want to look at things you don’t actually need. They also make you think you’re getting a great deal, when in reality, you’re only saving a very small amount of money. Be smart, and go straight to the items you need! 

Failing To Change Utility Suppliers

Looking at new utility suppliers every year can help you to save on your bills. Sometimes you won’t need to change at all, as they will match any deals that you find the ensure you stay with them. Make sure you look - switching takes minutes and you barely have to do anything!

1 comment:

  1. Some of the largest sources of credit card debt are holidays and vacations. You can easily turn them into monthly expenses by dividing the amount you typically spend each year by 12.