__________________________________________________________________________

Tax Planning & Preparation

Financial Services & Wealth Strategies

Estate Planning & Trust Administration
__________________________________________________________________________



Lifestyle Read Time: 3 min

Stop Wasting Money

Benjamin Franklin once said, “a penny saved is a penny earned.” One way to find the money to meet your spending or saving needs is to examine your current spending habits and consider eliminating money wasters.

Top Money Wasters

  1. Bargain Shopping…and its Expensive Cousin, Impulse Buying:
    Fire sales and impulse buying (such as products sold on infomercials) can be money wasters, made worse by how often they sit idly in a closet or drawer.
  2. Unused Subscription Services:
    It can be tempting to sign up for the “free trials” many subscription services offer, but don’t forget to cancel after your trial period is up. Forgotten subscription services can eat away at your wealth when you don't value the subscription anymore. For example, three $30-per-month subscriptions don't sound like much until you realize they total nearly $1,100 per year.
  3. Cable and Cell:
    Call your provider and see if it’s possible to negotiate a new rate. Cell providers, who face stiff competition, may be responsive. Cable companies may be less so, especially if they are a single provider, but you can review your package and make sure you are not paying for service you don’t want.
  4. Paying for Water:
    Switching from an essentially free product to one that may cost up to $1.50 a day or more is a real budget leak. Consider purchasing a reusable container and using that during the day.
  5. Gourmet Coffee:
    $4 or $5 a day may not seem like a lot of money, but when Americans step into a gourmet coffee shop, they may often buy more than just the coffee. Consider brewing your own. It can be ready before you leave for work, and it’ll save you the wait in the drive-through line!
  6. Eating Out:
    While dining out may be one of life’s pleasures, eating out is often less about socialization and more about convenience. Twice a week may not seem like much, but over time it can add up. Try tracking your dining-out expenses for a week. You may be shocked at how fast costs add up. 

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

 

Related Content

Are You Ready for Your Portfolio to Make a Difference?

Are You Ready for Your Portfolio to Make a Difference?

Learn about the rise of Impact Investing and how it may benefit you.

Understanding FDIC Insurance

Understanding FDIC Insurance

FDIC insurance was designed to protect your deposited funds, but do you know how? This article answers that question.

Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

When considering life insurance, it's important to understand your options.

Check the background of your financial professional on FINRA's BrokerCheck.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Check the background of your financial professional on FINRA's BrokerCheck.

Avantax affiliated financial professionals may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state. Securities offered through Avantax Investment ServicesSM, Member FINRA,SIPC.  Investment advisory services offered through Avantax Advisory ServicesSM, Placing business through Avantax Insurance AgencySM and Avantax Insurance ServicesSM. CA insurance # 0J20148. The Avantax affiliated companies exclusively provide financial products and services, and do not provide or supervise tax or accounting services.  This information is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.

Content, links, and some material within this website may have been created by a Third Party and was not written or created by a Avantax affiliated advisor. This content is for educational and informational purposes only and does not represent the views and opinions of Avantax Investment ServicesSM or its subsidiaries. Avantax is not responsible for and does not control, adopt, or endorse any content contained on any third party website.