The Seven Deadly Sins of Spending

I have observed that most people go out quite often and they just throw their money away on $8 bottle water. This is how much water cost at clubs. They have to buy 10 of their friends drink that would amount to about $200-300. If you multiply 200-300 by 10 days a month it will be $2000-3000 a month on drinks alone. When people income is only about 4-7 thousands a month. Most people spend 50% of their earning on drinks. I have seen it with my friends.

Spending on traffic tickets and late bills fees

I have observed that most of my family members and friends pay at least $100 worth of ticket and late fees per month. This will amount to $1,200 a year on useless things like traffic tickets and late fees. You should learn not to drive recklessly so not to have many tickets and park your car properly. Pay your bills on time and close your accounts if you can't pay them.

Spending gas on a large vehicle

Gas price is at $4.59 cents a gallon and I see some individual with very large and loaded car driving very far or making useless trips. These cars cost at least $20 dollars a day on gas if you're just driving around doing your business. A smaller car would only cost $5 a day driving around to meet all your needs. Drive a smaller car if you can. Buy a smaller car if you can. You will save alot of money

Eating out every single day

People eat out a lot. It's a great thing to treat yourself but you don't have to waste so much money on common food like burgers every single day. If you make trips to McDonald's each day, it will cost you at least $30 a day for three meals. You should make other plans with your meals need and cut back on restaurants visits.

Buying things you don't need

People love to shop and I observed that some buy things they never took off the package. People even still have them in package at donation time. Most thing they find distasteful when they brought it home and they just leave it there and never return it. I have a girlfriend, her closet has more than two hundreds items untouched that she bought and just leave it there to observed. All this spending will amount to at least $2-3000 a month. You have to stop buying what you don't need. To do this, don't go the shopping centers unless you really need to . Don't browse around or else you'll be tempted.

You don't know why all your money is gone

Some people spend and spend and they end up with very little money left and they can't recalled what they spend it on. Little things add up and soon you'll won't have a lot left. Keep a journal of your spending habit

Buying things in a hurry

People will spend more if they buy at local store that have quick things they need. Local store charge more because they know you need it. You should buy in advance not when you really need it. When you really need something you don't care how much it cost. Buy at Cosco and Sam club, store like 7-11 and liquor cost a lot. Most groceries store overcharge so they can maintain the overheads. Go to less fancy store, they have the same quality but less overheads and thus they charge less