By Damilola Faustino
Have you ever wondered where your money disappears to each month? You work hard; you know you make it—yet it seems as though you never have any, or at least not as much as you think you should have after you pay your bills. Unknown to you, there are certain bad habits you may be engaged in that may be costing you money. Here are some of the habits:
Using ATMs that aren’t your banks
When you’re in a hurry and/or your bank is out of the way, you may want to withdraw money. As such, you use other bank’s ATMs. The more you do this, the more the charges add. In Nigeria, you are only allowed to withdraw money from other bank’s ATM thrice afterwards, you are charged N65. It doesn’t seem like much. But, over time, it really adds up—especially if the fee is on the higher end.
Not keeping track of your change
Some people find themselves forgetting their change. Not because they want to but because they do not have time to go collect it. Hence, whenever you purchase your groceries, endeavour to collect your change.
Allowing food spoil
You may not cosnsider this as a way of losing money but the more allow food spoil, the more you spend money to buy food. This is not a good habit due to the rising prices of food at the market. So, do not waste food.
Paying for Idle Memberships
Certain individuals just pay for membership without using it for months. Gym membership, Netflix and other subscription services. If you do not have the time to use the services or memberships you paid for, it is advisable not to bother paying for them,
Buying brand names
While you should certainly find your favourite products through personal trial and error, chances are you could easily swap out a few name-brand products for the generic version and never notice a difference.
Drinking bottled water
Sure, investing in an at-home filter for your tap water will cost more. However, you’ll recoup that cost easily within a few months if you buy yourself a good reusable bottle to fill up at home.
Read also: Ways To Bounce Back From A Financial Setback
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