Sometimes, people don’t know that they waste a lot of money per month for unnecessary things like ATMs fees, lottery tickets, cigarettes and bundled cable. Below are five biggest money wasters.
If ATM users withdraw money at the closet ATM rather than the one at their own bank, they will have to spend about $5 because their bank charges a fee for going out of network.
According to Gary Thurber, assistant director of community relations at Consumer Credit Counseling Service of New York, many his clients make from five to ten unnecessary ATM withdrawals a month everywhere, which wastes around $40 each month or almost $500 a year.
Remember that wasting $40 means you miss a chance to fill up your car with gasoline
The statement “You have a better chance of being struck by lightning than winning the lottery.” seems not to prevent many people from betting their destinies in lottery tickets. According to the North American Association of State and Provincial Lotteries, consumers spent more than $70 billion worth of lottery tickets last year while only about $38 billion was awarded.
Consumers often spend between $10 and $20 a week on lottery tickets with nearly no chance becoming winners. That means they waste from $520 to $1,040 a year
Cigarettes not only are harmful for your health but also affect your budget. According to the U.S. Centers for Disease Control and Prevention, Americans waste $80 billion on cigarettes per year. Each week, many smokers spend about $70 on packs of cigarettes or $280 a month. If you cannot give up the habit, try on cheaper alternatives.
Suppose that you can save about $280 per month. After one year, you can make a trip or but something you need without harming your health
Eating out is considered as one of the most expensive habits and biggest money wasters. In 2010, consumers had to spend an average of $28.47 on each restaurant meal and they visited the places about 82 times during the year. The habit can cost you thousands of dollars a year.
Sometimes, we think that donating $20 for a charity organization is too much but dropping 100 bucks on dinner is acceptable
Bundled cable or phone services
You often have to spend a lot of money each month for bundled cable or phone services, but it is wasteful when you pay for 500 channels that you only watch few of them or phone packages that you don’t use all of their categories.
Reconsider whether you should pay much for bundle cable or phone services