{"id":19586,"date":"2019-11-27T12:27:58","date_gmt":"2019-11-27T17:27:58","guid":{"rendered":"https:\/\/blog.eztaxreturn.com\/?p=19586"},"modified":"2023-06-04T15:40:09","modified_gmt":"2023-06-04T20:40:09","slug":"7-ways-youre-throwing-money-away","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/7-ways-youre-throwing-money-away\/","title":{"rendered":"7 Ways You\u2019re Throwing Money Away"},"content":{"rendered":"\r\n

We all know that money doesn\u2019t grow on trees, but that doesn\u2019t stop people from acting like it does.\u00a0 A recent survey found that Americans spend $483 a month on non-essentials.\u00a0 Developing better spending habits can make it easier to save and reach your financial goals.\u00a0 Here are some ways you may be throwing money away.<\/p>\r\n\r\n\r\n\r\n

Carrying a balance on your credit cards<\/h4>\r\n\r\n\r\n\r\n

When it comes to credit cards<\/a>, there are two things you need to remember, don\u2019t charge more than you can afford and pay your full balance by the due date.\u00a0 If you don\u2019t follow the rules, you\u2019ll be forced to pay interest on the unpaid amount.\u00a0 Since the average APR<\/a> is in the double digits, your balance can quickly grow out of control.\u00a0 Most people have about four credit cards.\u00a0 If you\u2019re carrying a balance on multiple cards, the cheapest way to get out of debt is to start with the one that has the highest interest rate.<\/p>\r\n\r\n\r\n\r\n

Losing money to ATM and overdraft fees<\/h4>\r\n\r\n\r\n\r\n

Fifty-four percent of consumers prefer to shop using their debit card.\u00a0 If you\u2019re one of those people, make sure you pay attention to your account balance.\u00a0 If your purchase costs more than what\u2019s available in your account, you\u2019ll pay an overdraft fee which runs about $33.36 on average.\u00a0 Using the wrong ATM<\/a> can also eat away at your savings.\u00a0 The average fee for using an out-of-network ATM is $4.72.\u00a0<\/p>\r\n\r\n\r\n\r\n

Not taking advantage of cash back apps<\/h4>\r\n\r\n\r\n\r\n

Are you earning cash back on your purchases?\u00a0 If the answer\u2019s no, you\u2019re missing out.\u00a0 There are plenty of cash back apps on the market that will reward you for spending money at certain stores and restaurants.\u00a0 Some apps ask that you buy a particular item and submit a receipt to get rewarded.\u00a0 Others just want you to start your shopping trip through their app or link your credit card and shop as usual.\u00a0<\/p>\r\n\r\n\r\n\r\n

Holding on to a gym membership you don\u2019t use<\/h4>\r\n\r\n\r\n\r\n

We all want to look and feel our best, but it can be hard to drag yourself to the gym on a regular basis.\u00a0 Reports show that 80 percent of Americans have a gym membership they don\u2019t use.\u00a0 The problem is you\u2019re still paying for it.\u00a0 If it\u2019s been months since you\u2019ve stepped foot in your gym, go ahead and cancel your membership.\u00a0 You can always workout at home for free or find discounted fitness classes on Groupon<\/a>.<\/p>\r\n\r\n\r\n\r\n

Letting good food go to waste<\/h4>\r\n\r\n\r\n\r\n

About forty percent of food in the U.S. doesn\u2019t get eaten.\u00a0 Every time you toss out a carton of milk, a piece of fruit or a box of cereal, you\u2019re losing money. Fortunately, there are plenty of easy ways to reduce food waste. You can plan your meals, shop with a grocery list and eat your leftovers.\u00a0 Other helpful tips include:<\/p>\r\n\r\n\r\n\r\n