Three Things To Stop Wasting Money On
When managing your finances it can become easy to get trapped in the cycle of tweaking every section of your budget in an effort to save more money and reach your financial goals sooner.
However, another effective way to save money is by identifying those expenditures that you are wasting money on.
Read on to learn the top three things you might be wasting money on.
1) Unused Subscriptions
Did you know, Brits waste £25 billion a year on unused subscriptions?! Make it a habit to audit your subscriptions every couple of months and identify those subscriptions you never/rarely use.
For those you never use - cancel! (And yes, that includes the gym which you keep promising yourself you'll go to!) For those your rarely use, be honest with yourself - can you live without it? If yes, cancel. If no, find ways to cut the cost. Ask for a better deal, or see if you can go halves with friends or family.
2) Designer/Named Brands
We're all guilty of buying something at one point in our lives to be on 'trend'. Whether that be the latest trainers, or phone, we inevitably regretted spending so much money on it. Be smart with your spending, and find cheaper alternatives to the 'trends' and your favourite brands.
We're not just talking ditching those designer labels in favour of high street brands, but also stop buying branded food items. Supermarket own brands can be just as good in quality and taste - whilst saving you money!
Buying eco-friendly and sustainable products can actually end up saving you money! They usually have a longer life-span or are reusable, meaning you don't have to re-purchase items (and spend money) as frequently.
Why not swap to a soap bar, stop buying bottled water, or switch to using beeswax wraps instead of clingfilm? Reusables not only save plastic waste, but save you wasting money on single-use products.
By being conscious of wasting your money on these three things you can save yourself money and ensure your budget is as effective as it can be!
Read more of our Budgeting advice here.
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