Lifestyle
Do you ever wonder where all your money goes? We know it may feel like it just vanishes into thin air, but we have news. It doesn't. After some investigating, we've found out what's been causing these leaks in your wallet, and we hate to break it to you, but it's you!
We're sorry we're being harsh. We have to tell you the bitter truth. We also have to tell you about those small expenses that add up to an overspending issue without you noticing.
Spending money is much easier than saving it. But as soon as you pay attention to those small expenses that are draining your bank account, it will become easy for you to stop wasting your money. Not sure what those expenses could be? We'll tell you.
Here are 6 ways you probably didn't know you were wasting your money:
ATM fees
Sometimes you may have to withdraw money from an ATM other than your bank's. If this happens, you will be charged a small fee. The problem is that these small fees add up over time. For example, if you usually withdraw cash 3 times a week, you would be wasting 156 JOD a year! Why not put that money in a savings account instead?
Unused subscriptions
It's easy to subscribe to websites and mobile apps. It's even easier to forget these subscriptions and pay their monthly or annual fees without using them. This also applies to those gym memberships you pay for at the start of every year as part of your new year's resolutions but that you abandon shortly after.
To save money, review your subscription plans and cancel the ones you forgot about.
Falling for sales
Have you ever bought something just because it was on sale?
We know it's hard to resist a 50% sale. Maybe you think you've found a good catch. Believe us, it isn't a good catch if you don't need it.
To avoid making this mistake, stick to your shopping list, and if you find it hard to resist a sale, give yourself 24 hours before you make a purchase. If you still want what you had your eye on, go back to buy it. Trust us, most of the time, you won't go back.
Parking lot fees
Unfortunately, only some parking lots are free. If you're paying 2 dinars every time you need a parking lot, these small amounts are causing your money to go missing. How can you avoid them? Try to find a spot on the street. You may have to walk a bit to reach your final destination, but it's free and walking is good for your health!
Wasting food
How often have you thrown out rotten vegetables, spoiled milk, or expired canned foods? By throwing away food, you're throwing away your money in the trash. To avoid this, check out your fridge before grocery shopping, so you only buy what you need. Also, plan your meals around what you already have.
Buying low-quality goods
Are you someone who chooses to buy a less expensive product to save money? Although it may seem like an effective way to save money, it’s not always. Why? Let's imagine you need a hair dryer. What's better, buying a low-quality one that costs 20 JODs that won't last 6 months or buying a better-quality one that costs 40 JODs that will last 5 years? This approach may cost you more at the time of purchase, but you will save a lot in the long run.
We hope this article has helped you learn where your money is vanishing. While you're here, find out the 4 reasons to always carry 100 JODs in your wallet.
