‘Money Girl’ Laura D. Adams: Don’t Waste Your Money on These Items
Written by
Gabrielle Olya
Edited by
Molly Sullivan
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If you’re on a budget — and you should be — it’s important to keep spending in check. This is easier said than done, with spending temptations bombarding us seemingly all day every day. They’re there whenever we scroll through social media, watch TV or walk down a grocery aisle. That’s why it’s so important to be intentional with our spending — which means not wasting money on things that simply are not worth it.
“The New Year is an excellent time to reevaluate your spending and cut back where possible,” said Laura Adams, host of the “Money Girl” podcast and founder of “The Money Stack” newsletter. “Cutting costs is critical to free up more money you can save or invest for essential financial goals that create long-lasting security.”
Here are the items Adams said can be the biggest money wasters.
Recurring Expenses
It’s likely that you’re paying for subscriptions you forgot that you have. These small monthly fees can really add up over time.
“Review expenses from the past several months to see what you’re not using and what you could reduce or eliminate,” Adams said. “You may have subscription services, magazines and apps that waste money.”
New Items That You Could Buy Used
Purchasing items secondhand can be a major money saver.
“In most cases, you can get a better value for quality pre-owned items like vehicles, watches, jewelry and sporting equipment than buying them new,” Adams said.
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