10 Stupid Ways You're Wasting Money (And How to Stop)

Fire flames over one hundred dollar bill

Aslan Alphan/istockphoto

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Fire flames over one hundred dollar bill
Aslan Alphan/istockphoto

  

Buying Everything New
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Buying Everything New

There’s a reason the expression “good as new” exists — the fresh-out-of-the-box feeling is nice, but it comes at quite the premium. You don’t always need it.

Impulsive Grocery Shopping
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Impulsive Grocery Shopping

How often are you throwing food out? Shop smarter by planning for leftovers and future meals. And we shouldn’t have to tell you to show up with a list.

Hitting the Coffee Shop
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Hitting the Coffee Shop

Coffee at home can often average out to less than a quarter per cup. Doesn’t that sound better than a $6 cold brew?


Luxury Conveniences
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Luxury Conveniences

Convenience is key, but these days we have a tendency to go overboard. It’s usually worth it to just pick up the ramen or drop off the dry cleaning yourself, rather than dealing with the delivery fee for a courier.


Missing Tax Deductions
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Missing Tax Deductions

Services like TurboTax can be easy and affordable at first, but they’re probably not going to do as good a job as a personal accountant. In general, a good one will get you a whole lot more money back in tax deductions than you’d ever spend on their services.

Ignoring Energy and Water Usage
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Ignoring Energy and Water Usage

Simple things like checking lights, unplugging unused cables, and managing your running water more efficiently can add up.

Too Many Subscriptions
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Too Many Subscriptions

How many unused gym memberships do you have? Are you paying for Doordash and Uber Eats? Are you subscribed to a publication from a city you longer live in? Tools like make it especially easy to check these things.

Unneeded Insurance
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Unneeded Insurance

Health insurance is probably pretty important though. Don’t tell people that Cheapism told you to ditch your health insurance.

Don’t Skip Generics or Dupes
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Don’t Skip Generics or Dupes

I love Cocoa Puffs as much as the next fella, but I’d be lying if I said that I’ve never eaten generic versions that were just as good.

Credit Card Interest
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Credit Card Interest

Sure that minimum looks warm and cuddly, but your interest shoots up when you only pay the minimum, and might end up costing you hundreds a year. Pay as much as you can each month to save money in the long run.