Many people waste money without realizing it. Or simply forget to save. In this time no unnecessary luxury to take a closer look at these five ways
Do you eagerly look forward to the day your salary is deposited again every month? Do you want to have something left over at the end of the month? But you have no idea where exactly your money is going? Check off that list of things people waste the most money on.
Ways people waste money
Can you catch yourself in one or more of these ways? Time to save.
1. Overpaying on Insurance
Of course insuring yourself is important. But when was the last time you looked to see if your insurance could be cheaper elsewhere? With a website such as De Prijs Comparer you can easily check whether you are not cheaper elsewhere with your car or health insurance.
And not only that: when taking out such insurance, it is always important to keep calculating. It is also very possible that you are underinsured. It is very tempting to opt for extras with your insurance if, for example, you have glasses or contact lenses. Or pay extra per month to be insured for the dentist. But always consider whether you are actually getting your money out of it.
Look at your bank statements and list all your insurance policies. Which ones can you save on by switching or taking out a different insurance policy? For example, if you take out short-term travel insurance every time you go on vacation, it’s worth looking into comprehensive travel insurance.
2. Dormant Subscriptions
We hear you think: that’s not too bad for me. But let’s do an exercise. How many subscriptions do you think you have? Then grab your Banking app. How many subscriptions do you actually have? Research by Nibud shows that households have an average of 14 subscriptions, but almost always underestimate this number.
With subscriptions you can think of:
- Gym/sports club
- Streaming services (Netflix, Videoland, HBO Max, Disney+, etc.)
- TV and internet
- roadside assistance
- Leasing (car/bicycle/equipment)
- Newspaper/magazine (also online)
- meal box
You can of course see the tip coming from miles away. Check your account to see which subscriptions you have and which you no longer use. Really, you can save a lot of money every month with this.
3. Pay without comparing price
Convenience is also worth something. But it will probably cost you more money than you think. For example, it is easier to just buy something when you come across something on Bol.com, without doing research on the internet to see if you can get it cheaper. But the more often you do this, the more money you’re actually wasting.
And not only in this way: a lot can be saved, especially in the field of nutrition. How about quickly buying that expensive lunch, because you forgot to get things for lunch at home. Or buy the sliced iceberg lettuce, instead of the head, so you don’t have to cut it anymore?
Making a meal plan and doing weekly shopping with a shopping list will already save you a lot of money. Especially if you also ignore the pre-cut vegetables.
4. Under the influence of others
Whether it’s through stories from colleagues and friends or through beautiful pictures on social media, we all allow ourselves to be influenced by others from time to time. It’s easy to want to buy certain things or have experiences because we can see this so easily in others these days.
The trouble with this is that we can’t just stop comparing our lives to others, especially in a world where social media is so prevalent. All we can do is set an amount that we can freely spend each month on these kinds of things. In this way we can spend money on ‘luxury’ expenses, but we keep it realistic and sustainable.
5. Buying with emotions
Be honest: how many times have you bought yourself something to celebrate or to ease the pain? The answer is probably often, as many people use retail therapy (from new gadgets to ordering food).
Unsubscribe from webshop newsletters, turn off notifications from apps like Uber Eats and wait 48 hours with a large purchase so as not to waste money. Do you still want it after those 48 hours and do you have money for it? Then you can spend it with peace of mind.
Save on gas
Apart from the normal ways in which many people waste money, there is now also the gas price crisis. Check out these 8 simple ways to reduce your energy costs by saving on gas.
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5 ways you’re wasting money without even realizing it