5 Things People Waste the Most Money On

In this article, we will look at the 5 things people waste the most money on. If you want to read our detailed analysis, you can go directly to the 20 Things People Waste the Most Money On.

5. Cable TV 

With the internet and mobile phones in almost every household, paying for cable TV and channels you no longer watch wastes money. According to a report by Forbes, an average American consumer wastes more than $1000 annually for channels they no longer watch.

4. Landline Phone

Landline phones are one of the things people waste the most money on. Now that cell phones and the internet are common, landline phones have become outdated. If you use mobile phones and still pay for a landline phone connection, you are probably wasting money that can be saved and invested.

3. Alcohol

Excessive drinking remains one of the unsolved problems in the US. According to a report by the American Addiction Centers, people in the US can save approximately $268 to $507 annually merely by reducing their alcohol consumption by 25%.

2. Using Third-Party ATMs

Banks in the US charge, on average, $2.50 per transaction as out-of-network ATM fees. Using third-party ATMs remains one of the 20 things people waste the most money on and can be avoided by using your bank’s ATMs and withdrawing within the limits.

1. Unused Gym Memberships

If you have paid for gym memberships and aren’t using the gym regularly, you are wasting hundreds of dollars yearly. Most people buy gym memberships as New Year resolution goals but cannot attend the gym daily and waste their hard-earned dollars.

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