Where the money goes: 10 things for which Americans overpay $ 7400 a year

For most families, sticking to a budget is much more difficult than compiling it, writes CNBC.

Фото: Depositphotos

Although most consumers (74%) say they have a budget, 79% of them do not follow it, according to a study by the crowdsourcing trading platform Slickdeals.net.

On average, the weekly amount people spend (excluding mortgages, rents, utilities, etc.) is $ 340, or $ 143 more than the average of $ 197. These additional costs for the year result in approximately $ 7400.

According to certified financial planner Josh Nelson, founder and CEO of Keystone Financial Services in Loveland, Colorado, many people have difficulty spending money, no matter how much they earn.

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“I often hear phrases like“ I don’t know where the money goes ”from both people who earn billions of dollars, and from poor students, as well as those who stand between them,” said Nelson.

The survey involved 2000 adults. They were asked questions about budgeting habits and weekly spending. The first place in the list of categories in which respondents overspending, is occupied by purchases on the Internet, followed by grocery stores and subscription services (and, yes, the habit of indulging yourself with a glass or two of coffee fell into the top 10).

The survey did not examine where people get money for such deviations in the budget, but it is suspected that credit cards are to blame. According to the Federal Reserve, consumer debt amounted to $ 1,1 trillion in the third quarter, compared with $ 888 billion five years ago.

Separate data from CompareCards.com show that only 38% of cardholders are “very confident” that they can fully repay their monthly balance.

Top 10 Weekly Spending

• Online Stores: 40%
• Purchase of products: 39%
• Subscription to services: 37%
• Technique: 36%
• Daily Lunches: 35%
• Housewares: 32%
• Coffee: 32%
• Food Delivery: 32%
• Gym Membership: 30%
• Entertainment (films, concerts, etc.): 29%

What to do

First, make sure your budget is realistic.

“Most people hate budgeting and figuring out where they spend their money. But in the end, they find many segments where you can reduce costs without compromising the quality of life, ”said Nelson.

For example, he says, you don’t have to pay for subscribing to online publications, games and services that you no longer need.

“Sometimes people don’t even know that they are still being charged for services that they don’t consume,” explained the financial planner.

If your weakest point of online shopping, then one way to moderate your ardor is to leave the product in the basket for at least 24 hours.

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“This is most likely an impulsive purchase,” said Jessica Gödtel, CFO and Assistant Vice President, Valley National Financial Advisors in Bethlehem, PA.

“Proper budgeting is a clarification of what is really important to you, and only then the allocation of funds based on your values,” summarized planning expert Eric Roberge.

In other words, bring your expenses in line with your values ​​and reduce them in those positions that these values ​​do not reflect.

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