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Is your purse or wallet leaking? Whether it's careless spending or tiny indulgences that add up over time, these little drips can add up to big bucks. Plug them up and watch your savings grow.
Here are 15 common ways we girls waste money. If any sound familiar, look for ways to stop the bleeding.
1. New Nina: Cars, books, toys, exercise equipment and furniture can be purchased used for a fraction of the cost new ones, often in perfect condition.
2. Credit Carrie: If you have a $1,000 balance on a card charging 18%, you blow $180 every year on interest. Get in the habit of paying off your balance in full each month.
3. Ida Impulse: When you impulse buy you rarely get the best price. Resist the urge, go home and sleep on the decision. If you still want to buy the item the next day check your budget and go for it. Sometimes, you'll decide you don't need the item after all.
4. Surcharge Sally. A buck or two here and there may not seem like a big deal. But surcharges can really add up.
5. Dine Out Dinah: A habit of spending $10-$20 per person for lunch or dinner can be a huge drain on your wallet. Learn to cook, pack your lunch and brew your coffee at home- you could save a hundreds of dollars each year.
6. Lazy Linda: If you keep your savings in your checking account, you are wasting money. Move a lump sum into a savings account that pays you interest and you’ll get paid to save.
7. Brand Babe: From groceries to clothing to prescription drugs, you could save money by choosing the off-brand or generic over the label. And in many cases, you won't sacrifice quality. Clever advertising and fancy packaging don't make brand-name products better than store brands.
8. Wasteful Wilma: 40% of your energy bill is consumed when the appliances are turned off. Pull the plug on appliances with a clock or that operate by remote whenever possible.
9. Fiona Fee: Overdraw your checking account and you'll pay a $20 fee or more each time. Keep a close eye on your balance.
10. Needless Nelly: This sounds like a no-brainer to avoid, but how many times have you seen something on sale and thought you couldn't pass it up? Even if something is 50% off, you're spending too much if you don't need it. Coupons can be a great way to save on your grocery bills, but if you buy things you won’t use just because you have a coupon, you're wasting money.
11. Ida Ignore: Don't discount the discount store. Go there first, before Target or the grocery store. You can real deals on cleaning supplies, small kitchen tools, soap and toiletries, holiday decorations, greeting cards and gift wrap.
12. Unhealthy Ursula: Smoking not only damages your health, it burns up your cash. That daily $6 pack costs you $2,190 a year. Daily runs to the convenience store can be pricey as items are 50% more than at a regular grocery store.
13. Unassuming Sue: When was the last time you shopped around to determine whether you're getting the best deal on your car insurance or other service? Rates vary each year and with each insurance company.
14. Bankroll Betty: If you get a tax refund each April, you loan the government too much money via the taxes taken from your paycheck all year long. Put that money in your pocket by adjusting your tax withholding. Make sure to save year-round so you can pay your tax bill, but make money on the interest in the meanwhile.
15. Pointless Pia: How many cable channels do you really watch? Do you really need all those extra features for your cell phone? Are you getting your money's worth out of that gym membership? Take a look at what you pay for and what you actually use and cut what you don’t.
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