I Waste Money
Quicken Spare Change Challenge
1.Food. Buying organic food, brand name products, or too much food at any one time can lead to a lot of wasted money. By buying only what you’re sure you’ll use, not purchasing snacks at the register, and making sure to use items before they expire, you may very well save hundreds of dollars per month..
2. Housing. Everyone who owns their own home knows that housing is one of the number one money leaks. Even if you’re a renter, you’ll find that home expenses can add up quickly. One great tip is to follow the trend of going green, and you can expect to save money over time by reducing your energy costs..
3. Transportation Transportation costs can be another wastefull black hole for your cash. Try carpooling or using public transportation to mitigate the high costs of gas, insurance, and car payments.
4. Insurance. People are often insured improperly, meaning they are not covered for things they may need, or are covered for things they do not need. By investigating the best insurance options available to you, you will be able to make sure your money isn’t being wasted in coverage areas that you may not need .
5. Pensions. It is important to keep close track of any recurring payments owed to you, or any government reimbursements. It is not uncommon for there to be accounting errors in their favor, so do yourself a favor and double check everything from Social Security to tax returns, and make sure you’re getting what you’re owed..
6. Healthcare. Healthcare costs can be overbearing, and sometimes are so burdensome they become a major source of anxiety or pain. Taking care of yourself, and being proactive about your health is a great way of staving off more expensive health issues later on. An ounce of prevention is worth a pound of cure..
7. Entertainment. Entertainment costs are a necessary evil, but for some they can grow out of control. It is usually the little things that really add up. Try putting all “entertainment” purchases on one credit card or check card, and review often to keep a firm check on how quickly and wasteful your spending may be.
8. Apparel. Purchasing apparel at certain times is absolutely essential. However, it is important to assess what articles of clothing we “need” and which ones we “want.” If you already have enough clothes that work for most occassions, limit yourself to a small amount of purchases per month in this category..
9. Cash. Cash donations and charitiable work are a healthy and wonderfl part of our culture, and certainly don’t count as a waste of money. However, there are certain ways to benefit personally from your giving, so make sure you look into any tax relief you may be able to receive as a result of your generosity.
10. Education. If you’re in debt because of your education, you could be wasting some serious money every month. Look into loan consolidation, loan differment, and loan forgivness, as well as other government programs that can help you decrease your payments, or the total amount of your loan..
11. Alcohol. Buying top shelf booze, either for yourself or your friends, can become a financial nightmare. Try buying something more moderately priced, and invite your friends over for drinks instead of meeting them at the bar. Everything in moderation.
13. Personal. Pamper Yourself! We should all have a small budget set aside for personal care products, but for some, this spending niche can become an obsession. Buy products you enjoy for their value, and try to assess with a critical eye any products or services that may sound too good to be true. As with entertainment spending, this is an area where you would be wise to keep a careful eye on your total spend per month and cut back where needed..
14. Reading. The library is still one of the best bargains around. Buying books, magazines and other reading materials as impulse, or off the shelf as you’re checking out can become a hefty expense. If you really want to save a few bucks, try downloading free e-books..
