5 Ways to Waste Your Money

Whether you work the usual nine to five, or the grueling double shift, you work to provide for yourself and maybe even for your family. Money is very important, whether we want to admit it or not. So how do you blow that money? Read on for five effective ways to waste your money.

1.) Insurance

Affordable insurance is hard enough to come by as it is, so it comes as no surprise that you could be wasting money on unnecessary or overpriced policies. One of the easiest ways to waste money is by buying a policy you really don’t need. Home insurance or health insurance may be necessities, but things like travel insurance are only really necessary if you’ve put down a nonrefundable deposit. Life insurance is similar to home insurance or health insurance in that almost everyone has a policy. Unlike most insurance, many Life policies are unnecessary and expensive. For example, when looking for affordable insurance, one should use Credit Life or Children’s Life policies only if one wants to waste money. As a rule, you should only buy policies you absolutely will need, or else you’ll be wasting money.

2.) Gas

One of the most common places people waste money is at the pump. Many cars just aren’t fuel efficient. One can saves thousands of dollars on gasoline over the course of only five years if one chooses a fuel efficient car. Besides the model of car you use, simple ways of driving can cause you to waste money on gas. Driving at high speeds, accelerating or braking hard, driving on low tires, or overusing your air conditioning are all great ways to waste money.

3.) Appliance Warranties

Buying warranties on your appliances is always a good idea. Unless of course the warranty cost nearly as much as the product itself. Many warranties now cost nearly half of the product’s price. Considering the average life or many appliances, that’s unnecessary.

4.) Avoidable Fees

A great way to waste money is to pay a fee you actually did not have to pay. One way to avoid extra is to save and consume only what is needed. Most of the time it is applicable to electricity. There are some electric devices or appliances in the house which are not actually needed or necessary for living like dishwasher, electric garage door, electric fireplace, and more. Those are actually things that makes up your electric bills. And surely those are also the things you can live without. Not being careful and not checking receipts are both great ways to pay unnecessary fees.

5.) Solicitors

A good solicitor can trick you into buying something you don’t even want or need. Always take the initiative when purchasing a product. If you go through solicitors, you’re going to waste money.

This was a guest post from Erika

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