Money | The top things we waste our cash on

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It is easy to spend €50 in one day and have absolutely nothing to show for it. The reason? Because we waste our cash on unnecessary little items that can quickly add up to a lot.

Where does your income go each month? We can account for our regular expenses, such as mortgage, rent and/or other bills. But many of us cannot calculate on where the rest of that cash goes.

Was it those Friday night drinks? Was it that top you picked up at half price? Or was it the unexpected NCT expense, or hairdresser? These are the big expenses we tend to focus on first. And while these do dent our income, many of them are unavoidable.

However, it is the small and regular expenses that generally accounts for a larger than expected amount. Thankfully, they are costs that we can control. 

Here are some of the small things we waste our cash on;

  • Daily coffee

That morning latte or Americano may be your saving grace but it is also the main culprit to breaking your wallet. At an average of €2.50 a day, that is €70 a month. Or €840 a year. You could buy a really good Nespresso machine for that amount, and still save a lot. 

  • Overpriced insurance

It is too easy to just continue with the one insurance provider for your car, home, health etc. But in the face of rising prices, you could end up forking out a significantly lot more thanks to your reluctance to shop around.

  • Brand v Private Label

You may love your branded food items but, in some cases, they can be a lot more expensive than private label lines. Once again, a bit of shopping around can save you a lot.

  • Food Waste

On average, we spend €1,000 on food that we simply waste per year. That could be a nice break away, or a reduction in your loans. Planning your meals, being more creative with leftover food and freezing it all are just a few ways to prevent food wastage.

  • You try too hard to save money

Yes, this is an issue. By being too savvy and not spending cash on maintenance and prevention, you end up paying out a lot more in the end. For example, that €4 dental floss could save you €150 in the dentist. Not investing in home insulation, regular car maintenance and checking up on bills can also cost you significantly. It is easier to spend a little now than pay out later.