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How to Avoid Wasting your Money so you can Save More Every Month

If a home or building is not staying warm in the winter or cool in the summer, there are tests that can be done to figure out the source of the problem. There are many things that could be to blame. It could be old windows that need replacing, doors that are letting a draft in or a lack of insulation in the attic. And there are dozens of other sources that can prevent a home from maintaining a comfortable temperature. It just take a bit of work to search around and find out where the sources of energy loss are occurring. The same thing applies to your bank account. There are lots of little expenses that can eat away at your bank account balance. If you don’t do a check from time to time, and apply a fix for the problem areas, those little money drains will continue to add up to a major financial loss for your household.

The idea is to save as much money as you can. To do so, you’ll have to get your financial records out and go over all of your expenses. You’ll ultimately find some expenses you can reduce or eliminate. This takes time, but is worth doing when you have a few hours to spare. In the meantime, though, we have some very common expenses that you may want to think about reducing or getting rid of in order to save more money each month.

Cable/Satellite TV

When is the last time you looked at your cable bill? Have you noticed how expensive this type of service has become? The cable and satellite providers love to tack on all sorts of charges, and their prices are always going up. It is not uncommon at all for a household to pay out up to $100 a month on basic cable and equipment costs each month. It’s time to cut the cord. Ditch traditional cable and start using streaming TV services, like Netflix, Crackle or Sling TV. For about 10 percent of the cost of the average cable bill, you can enjoy tons of content, and tailor your home viewing experience to your tastes.

Eating Out

We live in a fast paced world, and it seems like there is no choice but to eat on the fly sometimes. But a restaurant meal for a family of four can easily range from $30 and up to $100, for food at a nicer, sit-down establishment. Make it a point to avoid eating out for an entire month to see how much money you can save. If a single person eats lunch at a fast food joint for just $5 a day, Monday through Friday that adds up to over $100 a month. And that is just for one person, eating one cheap meal. Skip the fast food, prepare more affordable meals at home in advance, and start saving a ton of cash.

Being a Tech Junkie

Do you always have to have the latest smart phone, gaming console or laptop? If so, you are probably throwing away money that you could be saving. It is more affordable to get as much life out of your existing devices as you can. Sure, a phone that has a little more storage and a few extra bells and whistles is nice, but is it nice enough to spend a few hundred dollars? Hold off on tech purchases until your old device is no longer working as it should. And then, try to purchase last year’s devices, in order to avoid paying hundreds of dollars more just to have the latest and greatest.

Consider all that we’ve shared with you in this article. Even if you only take action on one of these tips, you could potentially save hundreds of dollars in the months to come. Sock that extra cash into your emergency savings fund, and you’ll be on your way to a brighter, more fiscally aware financial future.

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