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Saturday, October 13, 2007

How to save a Ton of money

Yahoo Finance has a list of ten money drains along with the annual costs of each of them. I view this as a list of where we all can save a bundle of money. Here's their list as well as the annual amounts spent on each of them (in other words, what you could save if you eliminated them):

1. Coffee -- $360 per year.
2. Cigarettes -- $1,660 a year.
3. Alcohol -- $3,650 per year.
4. Bottled water from convenience stores -- $365 per year.
5. Manicures -- $1,068 per year.
6. Car washes -- $348 per year.
7. Weekday lunches out -- $2,350 a year.
8. Vending machines snacks -- $260 per year.
9. Interest charges on credit card bills -- $4,868 in interest (over time).
10. Unused memberships -- $480 per year.


If you have a lot of bad credit loans probably you should consider the above tips to save a ton of money and improve your credit worthiness. Now of course I wouldn't suggest that someone cut out everything and eliminate all of life's pleasures. After all, we should use part of our money to enjoy ourselves. But for those people out there looking for a way to save a bit extra, for those who simply "can't make it on what I earn", and for those who would simply like to pay down their debt, this is a pretty good list to consider cutting down on -- even if it's for a short period of time. And you don't have to eliminate each of the items above, simply consider cutting back on them. There's still tons of savings available by cutting your car washes, manicures, or alcohol consumption in half.

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