Are You Wasting Your Money?

wasting money, waste, credit, credit rebuild Wasting money can mean many different things to different people. Maybe wasting money to you means that you spend too much money on coffee, clothes, etc. Maybe you even consider a smart phone a waste of money.

Convenience and happiness don’t always have to equal being wasteful with your money though. There is always a limit to buying what you want and can afford to being wasteful.

Today I’d rather look at things that you can change which will save you much more money, without necessarily meaning that you have to sacrifice things in life as well. These changes include improving your credit, looking for more discounts and company benefits, and having less food waste in your household.

Things that you can change:

1. Improving your credit score.

Improving your credit score can affect your financial life in many areas. Your credit score can sometimes affect your job prospects, insurance rates and always affects your interest rates. You might not get that job that offers the higher pay that you want and desire and your car and life insurance rates may double, triple, etc.

Of course it all depends on the person and the specifics, but why not increase your credit score if you can?

If your credit score is lower than average (or sometimes even just average), there is a big chance that you will end up with a very high interest rate on your car, mortgage or other loan. A lower interest payment can save you thousands a year and possibly hundreds of dollars a month. Paying off your debts earlier can definitely be a good thing as you can free up your money and cash flow sooner.

With a lower credit score, you are possibly wasting a lot of money every month. Work on building your credit and increasing your credit score. There are many benefits of doing this, so start today!

2. Not looking at your company’s benefits.

This can be looked at in many areas as well. Have you ever looked at your company’s benefits? Or do you easily forget that they are there? Most people forget to look or don’t even know what’s there. If you work at a bigger company, there may be hundreds of discounts on things that you might already be using.

If your company offers a discount on your phone plan, car insurance, etc., then sign up for it!

Some companies offer GREAT discounts for many different services. All you have to do is sign up (which usually takes one second) and then you might be saving 25% on your cell phone service for a very long time.

Also, are you in your company’s 401K plan? Do you get a match? If you are not signed up and you could possibly be getting a match, then you are essentially throwing away free money here also. A company match can sometimes equal a raise. Would you say no to a raise or just pass it up?

3. Wasting food.

Food waste is a big problem. I’ve read that the average household wastes anywhere from 10% to 30% of their groceries every month. This can easily add up to hundreds of dollars in a year (and maybe even in a month for some of you who have bigger food budgets).

Every little food item that spoils and that is thrown away is wasted and could probably have been prevented. Sticking to your food budget and buying what you actually need is very important.

Try meal planning to see what you really need, and take a food inventory count of your fridge to make sure that you’re not buying any unnecessary extras. Going into a grocery store with no plan or list (and also hungry) can be a recipe for disaster!

How are you wasting money?

What’s your excuse for doing so?


  1. Meal planning based on weekly specials even results in more savings!
    BeatingTheIndex recently posted..Argent Energy Trust: Eagle Ford Shale Upside BeaconsMy Profile

  2. Looking at your company’s benefits is so huge! It’s amazing how few employees know about savings programs offered through their jobs. We are guilty of food waste, but we try to get better each week. Our biggest culprit right now is canned goods; we need to get a better system for monitoring expiration dates.
    femmefrugality recently posted..Burgh Halloween PartiesMy Profile

  3. We really cut down on our food waste after I read American Wasteland last year. It’s quite rare that we let anything spoil now and we do spend less on groceries.

  4. I waste money a lot of the time. I hate to say it, but laziness and rushing into buying things definitely has hurt me a lot recently.
    Michelle recently posted..Spending, Life, Income, Food Updates…My Profile

  5. I am on a zero food waste challenge for November! Doing good so far. I waste money choosing convenience like last week I stopped at a small shop instead of going to the supermarket. We had a long day and I choose my time and my couple’s sanity instead of money. But with careful planing I could have both.
    Pauline recently posted..Friday recap, plugged in, hammock hung!My Profile