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Everything isexpensivethese days.
The cost of housing, utilities, groceries and more are all up.
While there are many expenses you cant do without, there are even more that are unnecessary.
If you identify with this group, its not too late to make some positive financial changes.
So, what kinds of expenses are deemed frivolous?
Financial guruSuze Ormansays there are 10 types of spending habits that arewasting your money.
Itll also eat a hole in your wallet.
Be mindful to save electricity as often as possible, the environment and your checking account will thank you.
Take a look through your bank statements and identify all recurring monthly charges.
From there, consider cutting out the subscriptions you hardly ever use.
Youll be surprised how much you could save each month.
Its best to use a high-yield savings account to earn sufficient interest on your savings.
Buying Coffee Out
Its easy to grab a cup of coffee on your way to the office.
Instead, take your coffee from home in a to-go mug and redirect that money toward saving and investing.
The less you save now, the more compound interest youll be missing out on.
If youredining outmultiple times a week, consider cutting back to just once or twice a month.
Youll be shocked how much youll save when you cook meals at home instead.
The remaining balance will accrue interest and can quickly snowball into an unmanageable debt.
Leasing a Car
Getting a new set of wheels every three years is nice.
It also means youll always have a monthly car payment indefinitely.
However, you probably dont need these things.
Spending on Brand-Name Products
If youre always buying brand-name products, venture to kick this habit.
Store-brand products are usually less expensive than brand-name products and are usually the same quality or better.
Making the switch to store-brand products only can potentially amount to huge savings.
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