People who live frugal lifestyles often wonder why they don’t have enough savings, as they’re not exactly spending money on brand new gadgets or expensive designer shoes. However, there are a few things that may seem innocuous but are actually the most common money wasters in America.
Here are the top five common money wasters.
Bottled water
Instead of buying bottled water, you can get a reusable water bottle and fill it with water from the tap. There are even some that keep water cold for hours, such as the Aladdin Perfect Water Bottle from Walgreens ($20). Not sure if your tap water is safe to drink? Get a water filter, such as Brita on Tap Faucet Water Filter System ($18.27).
Coffee
Blended or flavored coffee from coffee shops cost about $3.50 for a small or “tall” cup. That’s about $840 a year spent on coffee alone if you make it a habit to get your daily cup of brew from the local Starbucks. Instead, get some good coffee beans and a Black and Decker Coffee Maker ($11.99). If you want your coffee to go, tote your brew in an insulated coffee mug or thermos.
Unused gym memberships
According to Forbes, this is a waste of money especially if you never make the time to work out. To save money, quit your gym membership and find ways to workout without spending a dime, such as walking, running, or lifting weights in your own home. You can also check out YouTube videos for exercise routines that you can incorporate into your workout.
Cable TV
Do you even watch all those cable network channels? For a more affordable option, go for streaming services such as Netflix, Hulu, or Amazon Prime, which cost just a fraction of a cable subscription plan.
Brand-name items
Why pay more for brand-name items such as toilet paper, dish soap and laundry detergent when generic will do? Stock up on generic items from Dollar General or Family Dollar and get savings on these supplies.
For more, check out Jobs & Hire’s tips on the simple ways to save money.
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