Cents and Sensibility

10 Money Mistakes You Make Every Day

Money advice that matters

Every now and then we think about something that we should not have wasted out money on, whether it be designer clothes or ATM fees. Check out the dumbest things people waste money on. Do you waste money on any of the following items? If so, check out my tips to help you save.

1. Credit card interest: Don’t be tricked into paying too much in interest. If you’re not careful, the interest can be more than the actual purchase! If at all possible, use cash instead of plastic.

2. ATM fees: Instead of walking an extra two blocks to your bank, you can spend up to $4.00 in ATM fees because it is not your bank. Go the extra distance and keep some cash in your pockets.

3. Designer baby clothes: Kids grow up so fast, so why waste money on something they’ll outgrow in a few months? Stick to discount retailers, such as Target and Wal-mart. But if you really want designer duds for your kid, check out stores such as Marshalls first.

4. Unused gym memberships: So, why are you giving your money away to the gym and you never go? Cancel it now and check out free workout videos on YouTube!

5. Snacks at the movie theaters: Don’t you know they hack up the prices about 300-percent?! Snack before you go, or I hate to say it, throw a few candy bars in your purse.

6. Cigarettes: Health issues aside, a pack of cigarettes will run you about $5 or $6 a piece! Multiply by how many packs you go through a week and…you get the idea.

7. Bottled water: Use a filter in your home kitchen and call it a day. Not only will you save money, but you’ll help save the planet, too.

8. Impulse buying: This typically happens when you go to any store hungry and purchase a bag of potato chips and a Snickers bar while waiting in line at checkout. Eat before you shop and save yourself a few bucks (and calories!).

9. Two-year cell phone contracts: Don’t lock yourself into something that you can’t get out of for two years. Negotiate and shop around for better deals.

10. Landline phones: If you are one of the 93 million adults with a cell phone, you may not need a landline, too. In the past, landlines were needed for security systems and Internet connections. Today, cell phones are now used for both.

Your Turn: What are your best money-saving tips? Let us know in the comments!

About Dr. Karen Ratliff

Karen Ratliff

Credit: Dr. Karen Ratliff

Dr. Ratliff is a certified life coach and professional educator, assisting many people in accomplishing financial, career, and educational goals.  She is also the author of “Tightening Your Bootstraps: 104 Tips to Kick Your Debt to the Curb Now.” Keep up with her budgetary advice via Twitter @drkarenratliff and her website at