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11 expenses that quietly drain your wallet

11 expenses that quietly drain your wallet

Prostock Studio / Shutterstock.com We all know how easy it is to blow money on a big purchase. Buy an expensive house or car, and you may soon regre

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Man surprised by his empty wallet
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We all know how easy it is to blow money on a big purchase. Buy an expensive house or car, and you may soon regret it.

But it’s also easy to lose a lot of money at a time. This is true whether you are living salary to salary or you have money to burn.

Here are some budget kids who might be quietly emptying your wallet.

1. Spending on False Emergencies

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A real emergency is not so quiet. In fact, a layoff, unexpected medical bill or car interruption tends to announce itself rudely and harshly.

But other so-called emergencies – like that o-so-cute bedding set for sale for the kids, or that chocolate-must-have-it-now-stripe – are actually just “wills” posed as needs. Save on real-time expenses.

Buy the ‘latest and greatest’ of anything

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Are you a gadget junkie? Maybe you should have the latest and greatest iPhone or tablet. Such spending trips are dangerous to your financial health. In many cases, you will be better served by buying used or refurbished.

This is true even for large purchases, such as homes. As we have written, older homes are often built better than new ones. However, if something vintage makes you nervous, consider buying something almost new:

“If you love the idea of ​​new construction, remember that an existing house does not necessarily have to be 50 years old. If you want an energy efficient home with new amenities, you can probably get it at a lower price if you are willing to own no. 2 or no. To be 3. ”

For more such tips, check out “11 Things You Should Never Buy New.”

3. Stack groceries in your cart

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It’s so easy to go to the store with a few things in mind, but end up spending $ 100 or more. That’s where discipline comes in.

Use a meal planner so you can buy what you really need, instead of grabbing whatever you crave at that moment. And never go to the store hungry, or you will be tempted to leave with every item that whets your spiritual appetite.

For more tips on saving at the grocery store, check out “13 Unusual But Effective Ways to Save on Groceries.”

4. Eat out too often

eat out
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Dining out is one of the most insidious ways to make your wallet thrive. It’s even worse if you spend hundreds of dollars every month at the grocery store, only to end up eating more than you actually cook.

Office lunch appointments can make another hole in your finances, especially if they become part of your daily routine. So, eating out occasionally is a treat.

5. Live the high life with your friends

Friends at a holiday party
Monkey Business Images / Shutterstock.com

Maybe you can not resist going out with your friends for a well-deserved evening of fun. But it might be a problem if your bank account is about to go red.

Be wise and say no. Even if you have to come up with a weak excuse, it’s worth saving your budget. Or convince your friends that you can have more frugal fun.

6. Plan expensive vacations

Hawaii Vacationer
zjuzjaka / Shutterstock.com

There is nothing wrong with going out of town for the weekend or even planning an extended outing. But if you’re already struggling to get by, this is not the time to brag about five-star hotels and first-class flights.

Instead, plan your vacation in a way that keeps costs to a minimum – such as by being flexible with your travel dates, as we point out in “11 Smart Ways to Save on Travel.”

7. Traces on clothes

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Those new heels you coveted finally went on clearance. But if your budget says no, it’s wise to leave them at the store.

Numerous studies have shown that material purchases do not make us happy for long. Instead, we get more satisfaction from spending on experiences.

8. Feast on pampering sessions

Woman and man in spa
Kzenon / Shutterstock.com

While your body may need a little TLC from time to time, going to the spa or hair salon once a week has the potential to do serious damage to your savings.

So, why not bring the spa to your home for a fraction of the price? You will find many items in stores and online that allow you to replicate the spa experience at home.

9. Continue to pay for cable

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Instead of signing up for the most expensive plan, try basic cable. Or even better, cut cable completely and go for cheaper alternatives like Hulu, Amazon Prime Video and Netflix.

For more information on budget TV, check out “12 streaming TV services that cost $ 20 a month – or less.”

10. Pay for gym membership

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Being healthy and fit is important, but spending way too much money on achieving your fitness goals makes no sense. Leave the gym and instead look for cheap or free activities at your community recreation center.

Or try the outdoors. A little fresh air will not hurt.

If you must have a gym membership, at least review the tips in “7 Ways to Save on a Gym Membership.”

11. Underestimated housing costs

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It is easy to drastically underestimate the monthly costs associated with that new home or apartment. Before applying for a mortgage or lease, use an affordability calculator to determine what you can realistically contribute to housing expenses each month.

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