6 Things That Waste Money That Many People Don't Know

Coffee, daily drinks

Sometimes we like to buy a cup of coffee or a cup of milk tea. There is nothing wrong with that, but if you buy a cup of coffee every day on the way to work, you may be spending a lot of money on drinks. Suppose you spend 20,000 VND every day, after a month, the amount is 600,000 VND.

It's best to cut down on this cost by making your own coffee at home and bringing it to work in a thermos.

Lunch out

Eating out for lunch is a habit for most office workers. If you are looking to save money, consider cutting back. Instead, prepare your own lunch at home, take it to go, and only eat out once or twice a week.

Buy on sale

The allure of sales is huge. It's hard to resist grabbing a must-have item when it's labeled "big sale."

However, it's important to note that sales often come with the risk of buying clothes you'll never wear, household items you'll never use.

The best way to make a purchase decision is to wait 24 hours. Usually by then the excitement will have died down, meaning you can better assess whether it's something you really need or want.

Sign up for services you rarely or never use

Signing up for Netflix when you're busy all day and just want to sleep at night, signing up for an Internet package at home when you're already using a 4G package, signing up for a business lounge service at the airport when you rarely go on business trips away from home, signing up for a gym membership but not going to the gym all year... are all wastes.

Many people fall into the trap of signing up for a “free trial” and then forgetting to cancel, losing a significant amount of money. These are often auto-billed, and people don’t even realize they’re paying for something they don’t even use.

The easiest solution to this problem is to check your bank statements to see if there are any services you are paying for that you haven't used recently, then cancel them.

Buy only from major brands

If you're a brand-name shopper, chances are you're spending money unnecessarily. According to Yahoo! Finance, smaller brands of less-important items like cleaning supplies and dishwasher tablets are cheaper and of comparable quality.

Unplanned spending when using credit cards

The “don’t pay now” trap makes you swipe your credit card without thinking. The more you spend, the less likely you are to pay it back in full and on time, given your limited income. As a result, you end up paying very high interest rates.