10 Ways You’re Wasting Money Every Day

3 min read By eCompareMo on October 24, 2016

It’s the little things that count—especially when it comes to money. We are all guilty of spending more than we’re capable of, using “minsan lang naman” as an excuse for our one-time, big-time salvo.

But if these small, sudden bursts of spending are taken collectively, you’ll realize that you’ve been burning thousands of pesos without feeling any real benefits from it. Below are some habits you should kick if you want to stop putting your money to waste.

1. Under-inflating your car tires.

According to the US Department of Energy, you waste 0.4 percent gas mileage for every one drop of pounds per square inch (psi). Low tire pressure means you consume more gas and subject your tire to wear and tear. Check your vehicle manual and look for the recommended tire pressure.

2. Buying branded items you don’t really need.

It’s okay to pay for quality if you’re sure you’re going to use it—and use it for a long time. The rule is, don’t buy new items unless you’re letting go of something old.

3. Buying in bulk—even when you don’t need it.

Buying items in bulk is an open money-saving secret. But buying in bulk only to let most of it accumulate dust, rust, or spoil in storage is a no-no.

4. Purchasing something expensive because of the freebie.

If you keep falling for “buy one, get one free” or “buy this, get 50% on your next item,” consider yourself one of the reasons successful marketing tactics as such exist. Always compare the value before biting into the “freebie” foil.

Read: Think Twice Before Buying These Items That Are Always ‘On Sale’

5. On the contrary: buying cheap items.

On another note, buying cheap is ill-advised as well. Incredibly marked-down items can either be low-grade, expired, or fake. And guess we all have an idea how expensive that can be.

6. Putting zero priority on maintenance.

Prevention is better than the cure. A simple repair of faulty electric wires can prevent irreparable damage to appliance and fire. Routine vehicle checkup saves you from towing expenses and road accidents.

7. Grocery shopping when you’re hungry.

It goes without saying, you shouldn’t be doing anything when you’re hungry. At all. Grocery shopping on an empty stomach is probably the worst of them all, money-wise, because it triggers you to buy items outside of your shopping list.

Read: 4 Ways You’re Wasting Money On Your Car Insurance

8. Going gold on personal care products.

Expensive doesn’t mean it’s best for your skin and body. Note that we have different body chemistry and price doesn’t define how your body will respond to a certain product. Why buy a P4,000 perfume that will cause you allergies when there’s a P500 body mist that lasts you a day without harming your skin?

9. Driving a few kilometers for cheaper gas.

Driving an hour or more away from home just to score for the lowest price per liter is simply against the laws of logic. The travel time, traffic, and your fuel consumption will most likely cause more than the pesos you think you’ll save.

10. Never doing things yourself.

It’s the best feeling in the world when the delivery guy arrives at your door with pizza, or sitting in the backseat of your Uber ride. We get it. We all deserve convenience. But if you’re able to do your own mani-pedi, simple home repairs, preparing your meals, you are doing your wallet a big favor, too. And trust us, someday, it’ll thank you in ways you don’t imagine.