Is Your Wallet Leaking? 20 Hidden Money Drains You Need to Fix

People often spend money on unnecessary things or indulge in things and experiences without realizing their impact on their finances. 

To highlight this, we found an interesting thread. A user asked, what is the most significant way people waste money? and here is how:

1. Throwing Away Leftover Food

“Surprised no one else has said this. Throwing away leftover food instead of eating it later. I’ve worked in the restaurant industry for years, and it’s appalling the amount of food that gets thrown away that would be perfectly fine the next day. I constantly pack my leftovers and eat them for lunch.” said one.

2. Spending Money On Gas Stations

“Small food items or drinks such as bags of chips or soda at gas stations. I do this quite often. Trying to break the habit, though.” said one.

3. Not Taking Care Of Teeth

A user said, “Not taking care of their teeth. 3 minutes of brushing/flossing per night can save you thousands.” 

4. Cigarettes

“Cigarettes. My dad smokes about 3 packs a day, so… $21 a day, $7665 a year.” shared one. 

5. Anti Virus

“Anti-virus protection suites. All you need is a lightweight virus scanner with a dose of common sense.” said one. 

6. 3rd party ATM fees

A user shared that many people need help understanding how much they waste on third-party ATM fees.

7. Health Supplements

“I work out a lot, and it’s unbelievable how much some people spend on supplements. You don’t need Intra-workout, fat-burners, 5 different types of proteins, etc. Especially, some of the diet pills that go for $40 and are stupid, to begin with,” said one. 

8. Tax Rebates

“Tax rebates. The number of people who lose hundreds of sterlings because they can’t care enough to fill in a few forms. Smh…” shared one.

9. Buying Coffee

A user shared, “Buying daily coffees and other cheap food items that can be easily replaced with something cheaper or made at home. If somebody buys a $4 coffee twice daily, $2,500 a year is gone!”

10. Not Cooking

“Not bringing your lunch to work. For the rest of your life, $3-$10 daily, 5-7 days a week. I’m guilty of eating out too often at work and home. Making your own food is much cheaper and, often, much healthier.” said one.

11. Textbooks

“Textbooks. I pay hundreds of dollars, and some I’ve opened maybe 4 times.” said another.

12. Jarred Baby Food

“Jarred baby food. What a rip-off. Make your own and save a TON of money. Febreeze. You can make your own for pennies. Just water, a little baking soda, and some fabric softener. Edit: people are either wise, or I am just that unclear. These are two different answers. I do not feed babies Febreeze.” said one

13. Bottled Water

“Bottled water. $1.25 for that tiny Dasani. Never.” said one

14. Weddings

“I can’t understand how people (who aren’t rich) will spend 15k+ on one day. I’m planning a wedding, and my budget is strict at 3k. I’ve had friends laugh and say I will never be able to do it. Yes, I will!

It doesn’t have to be extravagant. It just has to be a party.” said another

 15. Named Brands

“Buying everything name brand. Especially true with over-the-counter drugs. Check the active ingredients. Is it the same thing? Then why pay double just for the label on the box?” said one.

16. Credit Card Interest

“Interest. On anything. Credit cards, loans, whatever. Pay it back as soon as you can. With credit cards, DONT, I repeat DONT, let the interest accumulate. Why would you not just make the payment completely? You’re paying more than you have to! If you can’t afford it, you shouldn’t be swiping in the first place.” said another.

17. Diamonds

“Diamonds, they are a rock, which is expensive due to the fake demand diamond sellers/makers make by releasing only a few at a time; you are better off buying Gold.” one shared

18. Subscriptions

A Redditor says, “Subscriptions they don’t use. Gym memberships, Netflix, etc., if you use it, it isn’t a waste, but if you don’t, it isn’t. I know people who waste thousands on small, auto-billed, and unnoticed subscriptions.”

19. Driving Everywhere

“Driving when you could walk or ride your bike.” said one. 

20. Popcorn At Movies

“Popcorn at movies is a total waste of money,” said another

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This article originally appeared on Mrs Daaku Studio.