12 Habits That Cost You a Fortune


Many people complain of their inability to save money. Though they do not make any significant purchases, go on vacations to distant countries, or dine at expensive restaurants, they are not clear on where their money goes. The answer is usually simple – bad habits that devastate your purse. And we don’t mean smoking or drinking here…


1. Coffee


Americans spend an average of $ 21.32 per week on drinks at a cafe. If you buy a portable cup and a small French-press (this applies to those are on the run during the day), or bring a regular coffee pot to the office, you can save $ 1108.64 in just one year.

2. Skipping workouts


Almost every person who buys gym membership and does not work out at home is already a spendthrift. In fact, the average cost of a monthly gym membership is $58, and studies have shown that about $39 of that amount is wasted because people skip workouts.

3. ATMs


Although you should always have some extra cash in the wallet, small commissions, which are charged by an ATM when withdrawing money, tend to accumulate over time. For example, only in the US, people have spent $7 billion on ATM fees in 2010.

4. Drinking

Hire caterers and cocktail waiters if you have the budget available
Hire caterers and cocktail waiters if you have the budget available

According to the national statistics, and average American spends 1 percent of the total expenditures on alcohol. Restaurants and bars are expensive, but even if you drink a $15 bottle of wine at home once a week, it would cost $60 per month, and $ 720 per year.

5. Lunch snacks


Several years ago, a major credit card company conducted a survey of 1003 adults across America. They went out to have lunch twice a week and spent $10. It is easy to calculate that it cost them $80 a month.

6. Overdraft


Almost every bank offers its credit card holders overdraft facilities. Although the possibility of constantly having the money “for a rainy day” is very appealing, banks do not do it for free. In the United States, the average overdraft charge is $34. Besides, if the balance is too low, the bank automatically deposits money to the account.

7. Lottery

scream, conflict, argue

Even if you only have money for a lottery ticket, you should remember that the chance of breaking the jackpot is only 1 to 292.2 million. Those who like to buy a lucky ticket from time to time should know that Americans spent $70 billion on lottery in 2014.

8. Food waste


According to some estimates, an average American throws away 20 percent of the food that he or she buys in the supermarket. This wasteful habit costs $ 375 per year.

9. Avoiding car maintenance


Saving on car maintenance may result in much higher expenses. Americans spend more than $2 billion each year for major repairs or other related expenses, as they are reluctant to change the oil or replace filters, belts and hoses in time.

10. Belated payments


Usually, credit card companies charge a fee of $25-35 for a belated payment. If you constantly forget to pay your bills on time, then eventually it will lead to a lot of unnecessary expenses.

11. Student loans


Spending on federal student loans with interest rates ranging from 4 to 7 per cent can quickly turn into an uncontrolled avalanche, if you do not make regular payments. Interest rates on private loans can be even higher.

12. Branded products


On the one hand, global brand recognition ensures quality. However, a lot of foods, medicines and household products are as good as their famous counterparts. In addition, they are much cheaper.