Many of us are struggling financially. We might be paying off loans and credit card debts or just struggling to balance our finances. Outgoings often outweigh income, and we spend the last few days before payday with an empty bank account. A lot of us have gotten used to living like this. It’s become a normal way of life. We spend sleepless nights worrying about how we’ll cope with an unexpected bill, we get ourselves into further debt covering birthdays and other events, and yet we do nothing about it. We’ve accepted it as a way of life, and we just get on with it.

But, life doesn’t have to be like this. By getting complacent with your finances, there’s a good chance you’ve started wasting a lot of money every day. Here are some of the ways you could be wasting money as well as things that you can do to stop.

Insurance

Insurance is an essential purchase. If you drive, you need auto insurance to be on the roads legally. You should also have health, travel and home insurance. Yes, it’s an expense, but it can save you a lot of money in the future.

However, that doesn’t mean you should be paying over the odds. Use a comparison site like cheapautoinsurance.co.uk to make sure you are getting the best deals and shop around. Never make the mistake of renewing your policies blindly without first taking the time to check other deals.

Energy

Energy is another necessary expense. But, most of us are spending much more than we need to and wasting our money. There are two main ways to cut the costs of your energy usage. Firstly, by comparing offers. Again, use a comparison site every year to make sure you are getting the best deals. Even if your current provider is the best option, or you are unable to change, it’s worth checking to make sure you are on the right tariff.

Secondly, with your usage. Every time you leave a light on when you leave a room or keep water running while you are brushing your teeth you are wasting money. Turn your thermostat down a degree or two in the winter, switch appliances off and take a little more care with your usage and you could save a fortune.

Food

Food is perhaps the largest culprit when it comes to waste. We throw away around a third of all the food grown. This is a waste of food, resources, and our money and it’s usually totally unnecessary. Start writing meal plans and shopping lists, do regular smaller shops instead of big shops and try not to buy on impulse. All you need to do to waste less food is plan a little more.

Debt

Debt is a colossal waste of money. Every time you make a repayment on a credit card, up to half of it vanishes in interest. Stop paying minimum repayments and set up a direct debit for whatever you can afford. Yes, for now, your repayments will be a little more, but long-term you’ll have a fortune.

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