I Stopped Wasting My Money and Quit These Bad Habits

Way back in January, I made a resolution that I would end the year with more money in my bank account than I started with. I was on a mission to save money and be smart about how I spend my money throughout the year. So, I sat down and made a plan, and I am proud to say I stuck with it.

I wanted to tell you a little about how I saved money this past year because I think my story will really hit home with many people. I was never a big, crazy spender, I just bought things that I thought I needed. I make enough money to have a comfortable life, but I never seem to have any money in my bank account. I wanted to figure out why, and that is just what I have done over the past year. 

Here are the things that I was wasting my money on for decades. If you, too, are spending all your hard-earned cash on these things, you need to stop. They aren’t worth it! You will be much happier looking at your bank account and seeing a positive number. I promise!

These 5 Things are Complete Wastes Of Money

I’ll start with the big one; subscriptions. A couple of years ago, I went through my bank statements and realized I was paying for at least three streaming services I barely used, a fitness app I hadn’t opened in months, and a magazine subscription I forgot I even had (where is that magazine anyway?).

Subscriptions are sneaky because they’re small, recurring charges that you don’t always notice. But when you add them up, they can take a big bite out of your budget. Sure, it is nice to turn on the TV and be able to open any streaming platform you want, but how many do you really, honestly need?

I know that if you go through your subscriptions right now, you’ll be amazed by how much money you are throwing away. I recommend canceling anything you haven’t used in the last month and be ruthless! If you miss it, you can always resubscribe, but chances are, you won’t even notice it’s gone. Stop the habit of paying for subscriptions you don’t need!

Okay, the next one might sting a little. The coffee habit.

I was a daily coffee shop regular, happily handing over $5 for my favorite latte every morning. But when I did the math, I realized I was spending over $100 a month on coffee. That’s $1,200 a year!

Don’t get me wrong, I’m not saying you should never treat yourself to that pretty, fancy coffee. We all deserve it sometimes! But making it a daily habit adds up fast, and it’s such an easy thing to cut back on. I now make my own coffee, that anyway taste better and holding my rerusable coffee mug every morning, which I love.

Next up is convenience foods. This is another thing you may not even think about buying until you really sit back and consider the cost. I used to be in the habit of grabbing pre-cut fruits and veggies, pre-packaged salads, and ready-made meals from the grocery store because it felt so much easier than cooking. But here’s the truth: you’re paying a premium for the convenience, and most of the time, it’s not worth it. A pack of pre-cut veggies might cost triple what it would if you just bought the whole vegetables and chopped them yourself.

What’s worked for me is setting aside a little time each week to prep my own food. I’ll chop veggies, portion out snacks, and even make a few meals ahead of time. It’s not as fancy or convenient as grabbing something ready-made, but it saves money, and it’s usually healthier.

Okay, so I already cut out fancy coffee, unused subscriptions, and pre-made foods. What could possibly be next? Gadgets! 

I definitely love new gadgets and know how exciting they can be. I’ve been tempted more times than I can count. But here’s the thing: buying brand-new electronics is almost always a waste of money, especially when last year’s model works just as well for a fraction of the price.

Electronics lose value the moment you take them out of the box. And unless you’re a tech junkie who needs the latest features (no judgment if you are), you’re better off buying refurbished or waiting for a sale.

These days, I make a rule for myself: if my current gadget is working fine, I wait until it’s actually broken or too outdated to use before replacing it. When I do upgrade, I look for certified refurbished options or deals that don’t break the bank. Prices on gadgets drop very quickly, you just have to wait! Stop the habit of buying brand-new gadgets just because they are shiny and new. 

The last habit I stopped this past year was impulse buying. Impulse buying is when you see something on sale, think, Ooh, that’s a great deal, and buy it without even thinking about whether you actually need it. I can’t tell you how many random items I’ve bought on a whim that ended up collecting dust in a drawer or sitting in the back of my closet.

Retailers are really good at making you want to buy things you don’t need. First there are the flash sales, then the buy-one-get-one deals, and, of course, those little displays by the checkout counter that are designed to tempt you. And let’s not even talk about online shopping, where everything is just a click away.

What’s helped me is creating a 24-hour rule. If I see something I want, I wait at least a day before buying it. Most of the time, I realized I didn’t really need it after all. And if I still want it after 24 hours, I’ll only buy it if it fits into my budget.

Stop Wasting Money This Year

We all waste money sometimes, and we all like to occasionally splurge, but recognizing the biggest money wasters in your life and taking steps to cut them out can make a huge difference in your finances.

Cutting back on all of these unnecessary things has saved me hundreds of dollars a month which has added up a lot this past year. My savings account is looking pretty nice these days and I really feel like I am smarter about how I spend my money. I can also honestly say that making these little changes really didn’t impact my life negatively in any way. 

So, what about you? What’s one thing you think you could cut back on today to start saving more? Let me know all the tips you have!