Most Common Ways to Waste Your Money at Home

Everyone you speak to complains about their money problems these days. Some people are truly struggling and can’t survive. On the other hand, we’ve got a large percentage of the population that seems to love wasting money.

To be fair, most people don’t even know they’re doing it. A good example of this is the amount of cash you burn through at home. There are simple things you can do to save lots every month, but first you’ll need to know what you’re doing wrong.

Letting All Your Air Escape

If you live somewhere cold you’ll turn your heating up all the time. Roughly 30 percent of the money you spend is wasted. Electricity providers in Melbourne will tell you the opposite is true too.

In hot cities, cold air will escape from your home when you turn the air conditioning on. If you want to solve the problem plug up all the little holes in your home. I guarantee you’ll notice a difference straight away.

Washing Clothes in Hot Water

Using a washing machine isn’t a big deal. Nobody is saying you should time travel to the olden days and wash everything by hand. You’re wasting so much money because you insist on washing your clothes in hot water.

Once you turn on the washing machine up to 90 percent of the energy goes towards heating the water. Everything left is used to power the appliance. It’s crazy when you can wash clothes using cold water detergent.

Focusing on Brand Name Products

Open the cabinet in your bathroom and look at all your beauty products. Most of them will have expensive brand names, but you could have bought cheaper products. The only difference is likely the label.

You’ll do it with your clothes too, although it’s not as bad. At least clothes with fancy labels aren’t identical to cheaper clothes. It’s still hard to tell the difference between them when you open your wardrobe.

Failure to Write a Grocery List

You won’t be able to guess how much food Americans waste every year. The figure sits at around 33 million tonnes, which is high enough to make your eyes water. You’ll be contributing to the problem in a small way.

Every time you throw food away you should imagine it’s a bunch of dollar bills. The reason you waste so much money is because you don’t write a grocery list. You’ll end up spending money on food you don’t need.

Paying for Very Basic Repairs

If you wanted to build an open plan home you would hire a builder to knock down the walls. I don’t think anyone would expect you to wield a hammer like Thor. Sadly, you don’t need to carry out too many large renovations.

It’s all those little ones you’ll need to fix on a regular basis. Your cabinet door will eventually fall off. The faucet will start leaking and flood your home. Instead of paying someone you should watch YouTube repair videos.

Leaving All Your Mail Unopened

If you start to see a pile of envelopes on your kitchen table you better do something about it. Some of them could be bills. In the real world, there are consequences if you don’t pay all your bills on time.

You’ll end up with a handful of charges you received due to laziness. Everyone knows finding time to scan through your mail is tough. It’s still better than giving a company money that could be spent on other things.

It Could Save You a Small Fortune

If you take action on all the tips we’ve talked about today it could save you a small fortune. Once you begin to reclaim the cash put it straight into a savings account and stash everything away for a rainy day.