1. Wasted energy – Find ways to become energy-efficient. According to Business Insider, Americans throw away $443 billion on wasted energy. Simple tips such as unplugging appliances when they are not being used. Turn off the lights when no one is in the room. Set your thermostat at the suggested temperatures for each season, etc. Visit the website of your local power company for more tips.
2. Daily coffee trips – Did you know that you could be drinking your emergency fund or retirement away when you stop for that cup of coffee each morning? “According to a recent survey of American workers by Accounting Principles, Americans who regularly purchase coffee throughout the week spend on average, $1,092 on coffee annually.” Over a 10 year span you could have saved $10, 520. This kind of savings can be accomplished by implementing the 52 week money challenge as well. Some of your favorite coffee can be purchased in the grocery stores. Purchase a Keurig machine and save.
3. Premium cable packages – Review your CABLE BILL TODAY! You can drive the price down by reviewing what you have and getting rid of the part of the package that you do not need/use. Why have two HBO channels? Choose an alternate way for viewing your favorite movie, such as pay per-view or Red Box.
4. Speeding and traffic tickets – A Heavy foot can hurt your wallet. According to USA Today, “Most experts agree that the cost of a speeding ticket varies depending on location and offense, but the average cost is $150 (including court fees)”. If you drive for a living, getting too many speeding tickets can cost you your job and possibly your license. Loss of income could be a serious detriment to your household.
5. Lottery tickets – How much have you spent over the past year hoping to win it big? The Huffington Post claims a person’s chance of winning the lottery on a single ticket is one in 175 million. The odds of getting struck by lightning in your lifetime, being injured by a toilet this year, getting killed by a shark, and killed by an asteroid or comet are much more likely.
Please leave a comment on ways you can curtail your spending or e-mail me at email@example.com.
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