Are you ever curious about where your money disappears to?
It’s possible that you’re unintentionally throwing it away without even realising it!
Even the most money-savvy folks can find themselves wasting money on things like leaving the heating on when no one’s home, buying too much food that ends up going to waste, or paying for services that hardly get used.
It’s definitely common for people to lose track of where their money goes, especially when it comes to everyday expenses.
I have to admit that I’m guilty of all three of those things mentioned above.
Pin for later
I’m going to share some of the ways you might be throwing money away without realising it, and how you can make simple changes to save more of your hard-earned cash.
Leaving the heating on all day when no one’s home
One of the most common ways people unknowingly waste money is by leaving the heating on all day when no one is home.
It’s easy to forget to turn the thermostat down when you leave for work in the morning, but doing so can lead to a hefty heating bill at the end of the month.
Consider investing in a programmable thermostat that can automatically adjust the temperature when you’re away, or simply make it a habit to turn the heat down before you leave the house.
Not negotiating your bills
Many people don’t realise that they can negotiate their bills to save money.
Whether it’s your gas and electric, internet or phone bill, there may be room for negotiation.
Give your service providers a call and see if they can offer you a better deal.
You might be surprised at how much money you can save simply by asking.
Buying food that goes to waste
Another common way people throw money away is by buying food that goes to waste.
Whether it’s fresh produce that spoils before you have a chance to eat it or leftovers that get forgotten in the back of the fridge, wasting food is like throwing money in the bin.
To combat this, try planning your meals in advance and only buying what you know you’ll actually eat.
Paying for services that hardly get used
Many of us pay for services that we hardly use, like streaming subscriptions, gym memberships, or even subscription boxes.
While these services may seem relatively inexpensive on their own, the monthly fees can quickly add up.
Take a close look at your recurring expenses and consider whether you’re getting your money’s worth.
If not, it may be time to cancel or downgrade these services to save some extra cash.
Buying clothes to wear only once
We’ve all been guilty of buying clothes for a special occasion, only to wear them once and then never again.
Instead of splurging on a new outfit for every event, consider borrowing clothes from friends, or shopping your own wardrobe for something you haven’t worn in a while.
You can also get creative with accessories to change up the look of an outfit without breaking the bank.
Spending money on a delivery of an item you could collect
In our fast-paced world of online shopping, it’s easy to get into the habit of paying for delivery instead of picking up items in person.
However, those delivery fees can really add up over time.
Whenever possible, opt for in-store pickup or combine your purchases to reach the minimum threshold for free shipping.
You’ll save money and reduce your carbon footprint by cutting down on packaging and transportation emissions.
A gym membership
Are you really getting your money’s worth out of that gym membership?
If you find yourself making excuses to avoid the gym or only using a few of the available amenities, you might be better off canceling your membership and finding cheaper or free ways to stay active.
There are countless at-home workout options, outdoor activities, and community fitness classes that can help you stay in shape without draining your bank account.
Spending money on takeaways
While it’s tempting to order takeout when you’re too tired to cook, those frequent meals out can quickly eat away at your budget.
Try setting aside one day a week for meal planning and prep to avoid the temptation of takeout.
Not only will you save money, but you’ll also eat healthier and waste less food in the process.
Buying coffees from vending machines at local shops / garages
Do you find yourself stopping at the local shop or garage and picking up a coffee from the vending machine several times a week? I know I do!
This can add up to a significant amount of money each month.
Consider making your coffee at home and bringing it with you in a travel mug.
Not only will this save you money, but it’s also better for the environment.
Buying clothes from stores when you can buy them second-hand
Last but not least, consider buying clothes second-hand instead of splurging on new items from stores.
High street charity stores, and online resale platforms offer a wide selection of gently used clothing at a fraction of the cost.
Not only will you save money, but you’ll also reduce your environmental impact by giving pre-loved clothes a new life.
We all have the potential to save more money by being mindful of our spending habits.
By making simple changes like adjusting our thermostat, planning our meals, and reconsidering our subscriptions and shopping habits, we can make a big impact on our finances.
So, next time you’re tempted to spend money without thinking, consider these tips and watch your savings grow.
Caryl Ann
