Saving money is a habit we should all embrace. Obviously that means not wasting your hard-earned pounds on things that don’t provide or maintain much value. These kind of wage wasters are everywhere. Use this list to help you keep an eye out for things to avoid!
1. Bottled Water
It’s recommended that adults drink eight 8-ounce glasses of water every day. That can really add up if you’re only drinking bottled water! It’s better for your wallet and the environment to avoid buying bottled water or restrict use to only when it’s completely necessary.
2. First-Class Airfare
Flying first class is especially not worth the upcharge for domestic flights. On international flights, it may be worthwhile to shop around and look for deals on both first-class and economy flights.
3. Premium Petrol
Check the owner’s manual for your automobile before you fill up! Chances are, regular unleaded petrol will be perfectly fine for your vehicle, and paying for premium is effectively just pouring away your pounds at the pump!
4. Magazines and Newspapers Without a Subscription
While the argument can be made that buying magazines and newspapers are a waste of money (with the amount of free content available online), buying them at a newsstand or individually in general is a waste of money compared to purchasing a subscription.
5. Dining Out
It’s probably no surprise that dining out makes our list of frivolous financial habits. This common culprit can run the gamut from buying lunch on a regular basis (rather than brown-bagging one), to going out for food you can easily make at home. The experience might not be nearly as nice, but your savings may allow you to travel or have other experiences that are much nicer than lunch at a local restaurant.
6. Alcoholic Beverages at Restaurants
The markup on alcohol at pubs and restaurants far exceeds what the drink is actually worth, and even other items on the menu. Make an effort to visit BYOB restaurants so you aren’t paying way more than you otherwise would for your beer or wine.
1London.gov.uk. (n.d.). Bottled Water. Retrieved 21 May 2018 from https://www.london.gov.uk/moderngov/documents/s61791/06a%20Appendix%201.pdf
2Tuttle, B. (28 May 2015). The Best Airfare Deals Are Now in First Class. Retrieved 21 May 2018 from http://time.com/money/3899867/airfare-deals-first-class/
3MoneySuperMarket. (24 March 2016). Is It Worth Paying More for Premium Unleaded?. Retrieved 21 May 2018 from https://www.moneysupermarket.com/car-insurance/articles/is-it-worth-paying-more-for-premium-unleaded/
4Taylor, R. (21 October 2017). Restaurants charging £33 for a bottle of wine that cost just £7.06 at an off-licence. Retrieved 23 May 2018 from https://www.thesun.co.uk/money/4734790/restaurants-charging-33-for-a-bottle-of-wine-that-cost-just-7-06-at-an-off-licence/
The information in this article is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness or fitness for any particular purpose. The information in this article is not intended to be and does not constitute financial or any other advice. The information in this article is general in nature and is not specific to you the user or anyone else.