By the second week of the month most people have used up all or most of their salaries and sometimes part of their savings too. It is up to everyone to find out all the stupid ways they’re losing money every day and how to avoid it.
1. Invest in solar energy
Installing green windows and solar panels In your home is a great way of saving money on electric bills. Solar energy is free while electric energy contributes in money loss.
2.Pay off your credit card each month
Interest rates also contribute to some of the ways you’re losing money. Ensure that at the end of the month you pay off your debts because carrying forward brings along huge interest rates.
3. Do not go for premium gas unless it is necessary
Unless your car really needs premium gas, skip this luxury and go for regular gas. Premium gas is a luxury that contributes to money loss especially if your car really does not need it.
4. Ensure good tire pressure
If you want to save on gas and fuel money ensure that the pressure in your tires is consistent and at the manufacturers’ recommended standard.
5. Maintain a healthy lifestyle
Amongst the ways of unnecessary money loss is indulging in cigarettes, alcohol and fast food. These habits are very expensive in the long run and they get even more expensive when it comes to paying the medical bills they bring along.
6. Choose a great cell phone plan
Your cell plan also contributes to The Stupid Ways Your Losing Money Every Day. If you find out that you are not using up all your data and minutes at the end of the month, switch to a cheaper cell plan.
7. Find out if you have missing money
When people have your money and cannot find you they post it at a government’s website. Because they cannot keep the money, the government hangs on it for you.
8. Avoid high priced brands
Just because high priced brands are supported by campaigns it does not mean they are the best. There are some generic brands that are better than the more expensive priced brands.
9. Shop for perishables often
Buying too many groceries contributes to excessive money loss because most of them end up being spoilt and you have to throw them away. Shop twice a week for these instead of just once.
10. Buy in bulk
It is cheaper to buy items in bulk than it is buying them is smaller quantities. Because you will still need these items the next month why not by larger quantities?
11. Eat at home
Cooking your own meals at home is cheaper and more convenient. Go for cooking classes if you must just avoid dining out.
12. Open a savings account
Open an account where you put in regular amounts of money. A high- interest account will grow your money faster.