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Money Wasters

Mortgage and Lending with A Division of Alerus

Want to save some money? Create a little extra room in your budget? Here is my list of 10 things that you should pay attention to and try to limit!

•1.      Coffee- Spending 2-5 dollars on a cup of coffee is really going to add up. Especially for the people who go everyday or even twice a day. If you truly love coffee then I suggest making it at home or stopping at a gas station. These coffee chains are an easy way to throw your money away.


•2.      Tobacco- Smoking is also another way to just throw your money away. With tobacco prices where they are today I couldn't even imagine buying a pack a day. Obviously you know that you should quit because of the health impacts but think of it as a financial decision as well. You could save a lot of money if stopped smoking.



•3.      Bottled Water- I use to spend hundreds of dollars a year on bottled water. The worst part is I typically never finished a bottle. I would either end up tossing it or losing it. Then I decided to start using water bottles and a filter at home. I save so much money by doing this. Also it helps the environment now that I am not throwing away 2-3 water bottles every day.


•4.      Vending Machines- Simply try to avoid vending machines. Everything in that machine is overpriced.


•5.      Car Washes- I personally love getting my car washed and detailed. However getting your car washed is starting to become more expensive, and you should really start doing it yourself to save some money


•6.      Work Week Lunches Out- I never plan ahead and never pack a lunch for myself. So I spend 5-10 dollars everyday paying for my lunch. I could easily avoid that cost by thinking ahead and packing myself a nice lunch. It would also be healthier for me because I am always hitting up the fast food places for my lunches.



•7.      Gas- With gas prices going through the roof people should really try other forms of transportation. Whether that means carpooling or public transportation. If you really want to you could save a lot of money!


•8.      Interest Charges and Late Fees- Try to avoid putting a lot of money on your credit cards, all you doing is piling up interest. Yes, I understand that credit cards are nice and can help you get something you either want or deserve. However, if you don't pay it off right away you are just throwing money away. Also avoid late fees. Most of the time late fees happen because some forgets, write yourself a note or something. 20-30 dollars in late fees could easily be spent on something else



•9.      Unused Memberships- Do I even need to go into this. I know many friends who have memberships they never use, or rarely use.  Even if you are in a contract you might want to look into it and see if breaking the contract would be cheaper than keeping it.


•10.   Refinance your mortgage- With rates hitting all time lows for the year this is a great time to refinance your mortgage. You can either refinance so your monthly payments are lower or refinance to pay off your mortgage faster! Call me today if you're interested in hearing all the possibilities! 952.417.8481

Posted by

Bryce Mead

Residential Mortgage Group ( A division of Alerus Financial)


Email: bryce@rmgmn.com

Direct: 952.417.8481

Follow me on twitter: brycemead

John Howard
Century 21 LeMac Realty - Mountain Home, AR
GRI, Mountain Home, Arkansas 870-404-3614

Bryce,  A real thought provoker!  Some of us live in more rural areas...yes I realize that is our choice...But public Transportation in the Ozarks is a bit different than it is in an Urban center...not fussing but posted with a smile.

May 25, 2011 10:34 AM
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

Good post Bryce.   I did see myself in a couple of your suggestions. 

May 25, 2011 10:52 AM