15/1/2009
Do you remember the days when 50 cents would buy you a whole bag full of lollies? When you really felt like you were getting value for your hard earned pocket money? Yes – I may be showing my age here, but in these difficult financial times more than ever we want to know we’re getting our money’s worth from our purchases… or do we? Let’s look at a few of the easiest ways to lose your cash fast.
1. The Bargain: Just because something is cheap doesn’t mean you actually need it. Each year we waste millions of dollars on products we will probably never use.
2. Food: Food is expensive – especially if you go for name brands when often the home-brand or no-name brand can be just as good. Most of us also have a tendency to buy more food than we need, meaning that each week we waste money on food we are simply throwing out as it has ‘gone off’.
3. Luxury Items: Yes, it’s nice to spoil ourselves every now and then, but before you splurge weigh up the real value of what you are buying. That way you can avoid suffering from a nasty case of buyer’s remorse later on.
4. Take-Away: At the end of a long, busy day it’s quite understandable that we are often too worn out to even think about cooking, but remember that $30 spent here and there on take-away adds up, so try to limit ordering out – and use those coupons, they’re a great way to save a few dollars.
5. Petrol: Don’t waste fuel driving short distances. Petrol prices may have come down, but that doesn’t mean we should start driving to places we could easily walk to – and walking is great exercise!
6. Energy: When at home don’t waste electricity. The bills mount up and for every light left on you could be adding unnecessary dollars to your quarterly bill. Turn off appliances when not in use – you’ll also be reducing your carbon footprint and helping the environment.
7. $2 Dollar Shops – While incredibly useful for picking up cheap cutlery, picture frames and other incidental items, remember 10 items X $2 = $20, so buying up big on cheap items can lead to a lot of pain for your hip pocket.
8. Long lunches: Buying your lunch each day instead of bringing something from home is a wonderful way to send your money down the drain. That $10 you spend every day equates to $50 per week, or around $2,400 per year.
9. Coffee: Similarly, spoiling yourself with a café coffee each day adds up. This $18 or so a week amounts to over $850 per year – yikes!
10. Repairs: If something is damaged but repairable, try to have it mended right away. The longer you keep using something that has been damaged, hoping that it will last a few more days, the more it will end up costing you in the long run.
If you have any further suggestions on how to waste money – or better yet tips on how to save it – please post them in the comments section.
***Jo Spurling is the editor of Desktop***
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