Money down the drain: 7 meaningless waste that you make every day

Many people spend money where it is completely unnecessary, and do not even realize where their income flows. Sometimes the best way to save money is to simply stop wasting money. We'll tell you how to do this.

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Unnecessary expenses can result in a hefty minus in your bank account, without providing any real benefits in return, writes Money talk news. These 7 daily mistakes may seem like a trifle, but a year because of them you can quietly lose a thousand dollars and even more.

1. You pay the commission at the ATM

Most often you have to pay a few dollars to use an ATM. This can be convenient, but is not necessary. Try carrying more cash with you so you don't have to worry about finding an ATM. You can also request a refund when purchasing with your debit card at a supermarket or pharmacy. Just make sure they don't charge a commission. Another option is to research bank branches in advance and the availability of ATMs in suitable locations for you, where you can withdraw money with lower or no fees.

2. You do not unplug the electronics

In a typical apartment or house there is always a lot of gadgets that can consume electricity and increase your utility bill even when you are not using them. Moreover, many devices consume electricity even when they are turned off by a button but not unplugged. Here they are:

• coffee machines;
• TVs;
• DVD players
• speakers;
• laptops.

If turning on and off multiple devices from outlets every day seems like too much of a problem, connect multiple devices to the same extension cord. Thus, you can turn off all at once.

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3. You do not use purchased gym memberships

At the beginning of the year, many people promise themselves to lose weight and improve their fitness - but lose their resolve after just a couple of weeks. If you don't plan on going to a gym regularly, it probably won't be worth the cost of a gym membership.

There are cheaper ways to stay fit. Perhaps you could use the simulator or kettlebell in front of the TV more often than in the gym. In addition, it costs you nothing to keep a pair of athletic sneakers under the table at work to take a walk during your lunch break.

4. You pay for services you do not use

Companies sometimes offer you a discount on membership fees. This may seem like a good way to save a few dollars, but a monthly or annual fee may be charged long after you stop using the service.

For example, if you have problems with your computer, you may decide to pay monthly for direct access to technical support. Once the problem is resolved, you may no longer need to seek help. However, monthly payments will continue to drain your bank account unless you cancel your membership.

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5. You subscribe to magazines

It looks tempting: subscribe to your favorite magazine. But what if you don't have time to read each issue? Seeing how unread magazines pile up is like watching money fly into a pipe.

Before purchasing a subscription—whether print or online—ask yourself:

• Will you really read magazines?
• Are magazines something you would buy at a newsstand?
• Would you like to read magazines for free in a public library?
• Do you have an Amazon Prime membership? (Prime Reading comes with it, a feature that gives you access to more than 1000 digital books, magazines and comics for reading at no extra cost)

If you answered “no” to any of these questions, you may not need a subscription.

6. You throw away food

According to the Council for the Protection of Natural Resources, up to 40% of food in the US is never consumed. Most of this wasted food ends up in landfills, which in fact means that you literally throw away hundreds of dollars a year.

There are many ways to stop these losses: from the revision of bulk purchases to the proper and longer storage of products.

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7. You buy in stores along the way

Convenience stores are convenient when you are in a hurry, but for this easy access you have to pay more. When you visit a regular grocery store, you tend to spend less. But this may require prior planning of your purchases.

Start thinking about shopping at gas stations and other grocery stores. If you often stop in shops along the way to buy a drink, keep it at home and always pre-purchase it in grocery chains. So you don’t need to overpay when you suddenly need it on the way to work.

Buy a few reusable water bottles and just fill them with water when you need to bring a drink. So you save even more money.

Read also on ForumDaily:

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