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Everyone wants to save for the rainy days. We all go to great lengths to cut corners and give up the things that we don’t actually need. But even the most frugal among us can still pinpoint certain things that they unnecessarily waste money on.
So here’s a list of 5 things that we still continue to spend on even when we know it’s wrong.
Deals and Sales
Our eyes pop every time we see that red tag calling us with a number that we like. Yes, you get the items that you’ve wanted for so long at a hugely discounted price, but you also tend to spend more on other things that are unnecessary.
It’s all good if you stop at one or two items, but that isn’t even possible at a clearance sale or when we see a “buy two get one free” deal.
Credit card Interest
Financial experts have told us time and again to avoid buying things on credit if you don’t have the cash to pay for it in the end.
This is true for items that are considered luxuries or non-essentials. If you pay just the minimum amount due, you run the risk of paying compounded interest for the rest of the unpaid amount.
Credit card companies like it because they earn more from the interest you are paying them up until the original amount due is paid for.
Uneaten Food and Eating Out
You go to the grocery and think about stocking up on produce and other groceries because you believe that you are going to be an adult and prepare your own meals.
But this takes a lot of discipline because there are a lot of temptations that can snap your resolve easily. Like when your office pals ask you to join them for a few beers after work, or you can’t resist their invitation because they’ll be trying out a new restaurant later for lunch.
So the produce and the groceries you have in the pantry and the fridge will wilt and eventually go to waste. The times you eat at home are too far and few in between that your tinned food are way past their expiration dates.
TV and Internet Subscriptions
Unless you are working from home and an IT guy, then your ultra high-speed Internet isn’t justified. You waste money too by subscribing to channels you don’t get to watch because you focus on your favourite shows and rarely channel surf.
Laziness
There are a lot of things that you can do for yourself. You really don’t need the cleaners to come to your house every weekend when you can just set aside at least an hour a day tidying up a section of your house or apartment.
There are many home repair tasks that you can actually do just by renting out the tools and watching a few tutorials on YouTube.
There is nothing wrong with spending as long as we all keep it in moderation. You can eat out every now and then to reward yourself. But you shouldn’t make that as an excuse just for you to be able to check out the new sushi place that opened today when you had a steak dinner a few nights ago.
You also need to check the expiration date of your groceries so you can avoid letting them go to waste. You just have to be aware of what you have so you can count them against what you are thinking of buying.
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