Money Matters – Top ten money leaks

Money Matters – Top ten money leaks

By Olivia Fischer

You’d fix a leaky tap – what about your leaking finances?

We’ve all got little expenses that hit the bank statement every month, that can quickly add up to a big pool of money. David and Libby Koch recently listed 10 of the most common money wasters – how many do you have?

  1. Bank Charges – don’t be loyal to the big banks that charge you the privilege of having your money in their account, find a better deal!
  2. Bottled water – a reusable water bottle is not only good for the environment but good for your wallet. Besides, what pay $2.50 for 350mLs when it comes free from the sky anyway?
  3. Delivery Food Services – could some fresh air and a walk to get your lunch be a better option?
  4. Credit Card Interest – is there a better rate out there? Or better yet, can you ditch the card entirely? Or make sure you pay on time to reduce the amount of interest at month end?
  5. Extended Warranties – worthwhile or not?
  6. Long Distance Calls – can you jump on Skype instead?
  7. Brand Names – is the good name worth you spending your good dollars on?
  8. Forgotten Direct Debits – have you got multiple subscriptions that you pay for monthly but don’t actually use anymore?
  9. Be more organised! – pay on time to limit those late payment fees and extra interest charges!
  10. Don’t buy steak at a restaurant – does the $40 steak out taste any different from the $5 steak from the local butcher?

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