In today’s society, it seems as though you can never make enough money. There’s pressure to be the next Steve Jobs, Bill Gates or Jeff Besos. Even more ridiculous is the rapid rate which marketers expect you to spend the money you do make. From social media marketing to advertisements on TV, it almost feels as though someone wants to take the hard-earned dollars you’ve made just as soon as they’ve hit your bank account.
Live a Life According to Your Own Values and Goals
If Keeping up with the Kardashians is too much of a struggle because all you want to do is build a comfortable lifestyle for yourself without pressure to be a #GIRLBOSS or Tech Guru, you’re not alone. Many people are fine with living the type of lifestyle that emphasizes fun, friendship, and even food without a hefty price tag. You do, however, need to change the way you look at money and stop throwing it away so carelessly. It’s how you achieve balance in your life by having more cash to work with to support the things you want to do and experience more regularly.
Ways You’re Losing Your Hard-Earned Cash Without Realizing It
Here are eight little ways you’re leaving money on the table:
- By paying your bills late. The monthly expenses that you pay are necessary. They allow you to live the lifestyle that you desire. From the rent or mortgage payment that you make each month to the high-speed internet service you invest it, each expense fits tidily into your budget. The way it starts becoming a problem for you is when you fail to plan well and pay your bills late. Then, you’re losing money in the form of late fees and reconnection service charges. This type of behavior is costly and can take a toll on your credit score so watch it.
- By not taking advantage of sales, discounts, coupons, and rebates. You don’t need to be an extremist to be a savvier spender. It involves being better prepared before you spend money, though. If you’re an impulse shopper or a person who wants to get in and out of the store without looking around, you’re likely paying full price for everything. A small change in habit can add up to significant savings for you. Challenge yourself to see how much you can get for every dollar that you spend going forward. Before you know it, saving money on purchases will come naturally for you without any real effort.
- By not putting your Benjamins into an interest-bearing savings account. You don’t need to be Warren Buffet to be a wise investor. In fact, all you need to do is find a financial institution who is willing to pay you for keeping your money in their bank. Rather than fritter away the opportunity to gain from the cash you have saved, why not choose an option that pays? All that is required of you is to continue saving like you normally do.
- By keeping a balance on your charge cards. Ouch! This suggestion is one that likely stings because who doesn’t use a credit card every now and then? If you’re guilty as charged and continue to keep a balance on your accounts each month, you lose money. Those interest charges and over-the-limit fees are killing your budget. Aim to pay off the old debt before accumulating new debt. Otherwise, you’ll be eaten alive by excessive charges.
- By insisting that you must be like everyone else. You’re not. You know exactly what you can spend and what you can’t. There is no need to impress others by buying things you can’t afford. Instead, use your money more cautiously and invest in the items and experiences that truly make you happy. Living an authentic life is among the easiest ways to stop leaving money on the table by spending frivolously.
- By not cooking some meals from scratch. Maybe you don’t like cooking. Or, you’re too busy to dedicate a lot of time to prep a homemade meal. We get you. Eating out all the time is cutting into your budget and making you work twice as hard at the gym. You’re losing a lot of cash because of your eating habits.
- By not considering the long-term return on investment on the things you buy. Clearly, not all dollars are spent equally. Some things bring you infinite amounts of joy while other expenses are necessary or short-lived. Consider how much use or experience each item provides. That’s what we call real value. If you find yourself thinking something was a great deal, you’re not hemorrhaging money out of your bank account at record speed.
- By not selling your used textbooks back at the end of the semester. Broke college student? When you sell textbooks (https://booksrun.com) for cash, you’re doing two things. You’re helping retailers stock up on books that would otherwise wind up in the trash or at the local thrift store. You’re also claiming what is rightfully yours by recouping some of the cost you originally paid for the classes you took earlier in the year by returning your textbooks for money.
This is just some of the ways that you’re leaving money on the table. You can easily stop being careless with your spending by following the suggestions above. Each will increase your level of happiness and financial situation substantially.
Keep More of Your Hard-Earned Money for You
Don’t leave money on the table if you don’t need to. Stake claim on what is yours and reap the financial rewards. By changing your current viewpoint and behavior like deciding to sell textbooks for cash, you’ll save big and make extra money without any real effort. In fact, you may find the process so addictive that you find other ways to rein in your spending or make more moolah on the side.