Money is great to have, but, if you don’t manage it well, you can find the most random things take money from your pocket.
Most times we make money, but at the end of the day we are left with little or no savings.
We end up spending all of it and wasting it away on things that we could have easily done without or things that we could have improvised for.
If we are being honest, most of the items and services we buy aren’t even worth it.
Here are 6 common money wasters to avoid:
Buying brand-name products
Buying generic brands has to be one of the most underused ways to save money across a range of products. From food to skincare, to over-the-counter medicine, chances are your local grocery or drug store has a store brand for them or sells a generic version. Check the labels; in most cases, the ingredients are pretty much identical, and you don’t have to spend money on the big brand names.
Paying someone else for simple household repairs
Basic house maintenance is something fewer and fewer of us learn, perhaps due to our increasingly busy lives and the preference for someone else to do maintenance work. But, most household maintenance can be done yourself without having to pay a huge sum of money to someone. And if you have no clue about what you are doing the internet is there to help you out with several helpful instructions.
Buying Pricey Personal Care Products
We think we’re savvier consumers now, yet many of us continue to buy a bunch of chemical-filled products to put on our faces and bodies in the hopes that they will fix wrinkles, firm our skin, or brighten our complexions. Just because a big brand produced it and it costs a lot, doesn’t mean it would work for you.
Sticking to Bad Habits
Smoking, drinking, and gambling are all perfect examples of bad habits in which you choose to trade short-term pleasure for long-term debt and discomfort. So turn a new leaf by cutting down on those bad habits.
Constantly Buying New Cars
A car is a means of transportation to get you from one place to another and If you’re buying a new car every few years even when your old car works perfectly fine, you’re likely trying too hard to impress the wrong people and you’re going broke in the process.
Lastly, Restaurants and Prepared Foods
Almost everyone is guilty of this and we all know eating out is ridiculously expensive. So is buying prepared foods at the grocery store. But when saving up money, you can buy every once in a while as a treat, but also learn to cook and prepare your food regularly. It’s not just cheaper, it’s healthier too.
Written by Uchechukwu for EM