15 Ways You Are Wasting Money and What to do Instead

Stop Wasting Money

Stop Wasting Money

Wasting money is not something the average American wants to do. But as consumers and prey to materialism, it’s the easiest to do when you don’t pay attention. Previously, I mentioned the first step to get out of debt is to save $1000 as fast as you can. In order to save, you’ll need to examine your spending habits and stop all unnecessary spending.

“I’ve already gotten rid of a lot”

Get rid of more.

This means that you need to dig down into your finances and find all the money sucking culprits to eliminate them.

Most things that are wasting money are obvious while others may not be.

I’ve put a list of the most common ways that people waste their money. Start by cutting out these expenses and see how much you can save. $7 here and there can REALLY add up and turn into and pretty good chunk of change to throw into that emergency fund so you can start slaying that debt.

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Simple ways to build your $1,000 Emergency Fund, A Step-by-Step Guide

Emergency fund

The number one thing I hear when speaking with family and friends about an emergency fund…

“How can I possibly save anything when I’m already living paycheck to paycheck?”

I hear you, I was there too. At the time, I had no idea what an emergency fund was. You can read my story about how I got into debt and what I’m doing to get myself out here. I used to be good about finances. In college, I had one credit card. I only used it for things I needed and always paid it off in full every month. Then, I graduated college and learned I was expecting soon after. When I finally moved out of mom’s and dad’s, while pregnant, I “needed” new couches, and a brand new television set with an entertainment center to go with it. I “needed” an awesome baby shower, fancy baby items, clothes, and the more expensive diapers (because you know, they work better). Plus, I needed a NEW car. In hindsight, I didn’t need these things, I wanted them. All of these things added up to a lot of DEBT. While I was still managing my finances okay, I could feel a bit of financial pressure.

Then baby brother came along two and a half years later. I made small attempts to save money such as breastfeeding, using cloth diapers and wipes, and I made my own baby food. While it helped, I realized that instead of actually saving, I just shuffled the money elsewhere, like Amazon, to buy more things I didn’t need.

I became worse with money over time. Managing two kids, being a wife, managing my home, and working full-time with little sleep definitely took a toll on my abilities to keep up with finances. I missed payments resulting in overdraft fees, I made more impulse purchases, and I did not budget at all.

My turning point was when I literally had $5 before next paycheck. I had to wait to buy groceries until next payday. Luckily, payday was only 4 days away and I had no automatic payments to go through before then, but the thought of not having money to buy groceries was terrifying! I hated the feeling and I knew it was time for a change.

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My Journey to Paying Off Debt

Paying off debt

Why I decided to start paying off debt

Let me just start out by saying that I seriously hate debt. Yes, hate it. But I didn’t realize how much I hated debt until recently. Let me break it down.

I am a millennial. I graduated high school, went straight to college and got a job right away. I worked hard. I knew that I wanted to work as a Critical Care Nurse at a Level 1 Trauma Center and I knew what I had to do to get there. My parents didn’t pay for me to go to a University so I worked hard on my grades to earn a scholarship to a junior college. While at junior college, I continued to work hard on my undergrad courses while holding a part-time job to pay for my books, gas, and food while at school. I also volunteered, a lot. I earned a scholarship to go to the University of Arizona College of Nursing, one of the top colleges for nursing at the time. I focused on my courses while I held a part-time job at a hospital. I didn’t party, I didn’t have a wild spring break, I didn’t have time or money for that.

Once I graduated college, I still had student loan debt, $15,000 to be exact. But I didn’t have to start paying until 6 months after graduation! Sweet! Well, that’s where I began to get into trouble.

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5 reasons to use Cloth Diapers

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So, my guess is you’ve finally started to become intrigued on how to cloth diaper your baby. That’s great! There are so many benefits for those who cloth diaper their precious babies. I am going to write all about how I cloth diaper my son and how you can too. This will be series of posts so be sure to stay tuned for more!

In this series, I’m going to talk about the reasons most people and I choose to use cloth diapers for our little ones.

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