Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, May 7, 2011

Avoid these Wasteful Habits, Part I

Filed under: Economy — admin @ 12:01 am

We are living through the times when children frequently hear about the hardships related to one of the worst economic downturns in the nation’s history. On the same line, I often read articles teaching people how to stretch their limited resource to last longer. Here’s one of them which I read on 3/2/2011, “25 Ways to Waste Your Money” by Erin Burt, that is, how to avoid the following behavior.

1. Carrying a balance on your credit cards. Debt is a shackle that holds you back.
2. Overspending on gas and oil for your car.
3. Keeping unhealthy habits like smoking and indoor tanning.
4. Using a cell phone that doesn’t fit. Your phone is not a status symbol. It is a way to communicate.
5. Buying brand-name instead of generic.

6. Keeping your mouth shut. By simply asking, you may be able to snag a lower rate on your credit card.
7. Buying beverages one at a time instead of a box of 12 or 24.
8. Paying for something you can get for free, like using library.
9. Stashing your money with Uncle Sam rather than in an interest-earning account.
10. Being disorganized. e.g. Lost bills and receipts, forgotten tax deductions, and clueless spending.

11. Letting a large quantity of your money wallow in a low-interest account.
12. Paying late fees and missing deadlines.
13. Paying ATM fees. Expect to throw away nearly $4 every time you use an ATM that isn’t in your bank’s network.
14. Shopping at the grocery store without a calculator.
15. Paying for things you don’t use and you can get it free from the Internet, like cable TV.

Continued…

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