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Curious if you're losing money without realizing it? Well, chances are, you might be. This video exposes common, overlooked habits that quietly erode your finances. Gain valuable insights to identify and eliminate these costly behaviors.
Quote of the Day - "Enjoy the little things in life, for one day you may look back and realize they were the big things." - Robert Bault
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Are you wasting your money without realizing it? Because there's a high probability that you are
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Every penny counts. So here are four things you may be doing. Let's go
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Starting off with number one, which is keeping things on. Now, it may not seem like a big deal
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Let's say, for example, you leave a room and you have the light on and you're going to be back in
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like 10 to 15 minutes. So 10 to 15 minutes every single day, or even two times a week can add up
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to dozens of hours in a year, which can contribute to your bill being hundreds, if not thousands of
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dollars more. Some similar things could be leaving the water on when you're brushing your teeth
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or you're doing the dishes, or leaving the heat on when you're not in the room or on that floor
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or even in the house in general. You don't need to be like your dad, constantly turning things off
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and being all grumbly and like, why is the heat on? You can do it when you pay for the bill and
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stuff, but you are paying for the bill. And if you're not using it, then why leave it on? Why
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pay for it? Just be conscious and just notice it when it happens. If you're not going to be
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in the room, just turn it off. Next up on our list is doing nothing with your money. Now, what I mean
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is having, let's say, your $60,000 in savings in a savings account, just sitting there earning
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0.01% or whatever savings account offer these days. It's a very small amount of interest
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you're earning, and it's really doing nothing for you. But what you could be doing with that money
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is putting it in a high yield savings account or a CD, earning 4, 5, even 5.5% interest, right
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That's considerably more than what you'd be earning in a normal savings account. And if you
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want to go further, you can do retirement accounts, you can do the stock market, you can do tons of
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other things. Essentially, what I'm saying is, by doing nothing with your money and just leaving it
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there, you're losing out on earning tens, if not hundreds of thousands of extra dollars over the
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course of your lifetime. It makes no sense, and if you plan to just leave it there and not touch it
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you might as well leave it and not touch it in a place that earns you considerably more money
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Another big one is your taxes. Now, there are many people that will do the taxes themselves
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or they'll get some cheap accountant to try to save a couple bucks to do their taxes, right
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But if you hate taxes that much, it makes sense for you to learn as much about taxes so you pay
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the least amount of taxes, right? By you doing shoddy work with your taxes, you're not getting
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back at the government or being like, haha, I hate taxes, screw you. You're hurting yourself
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because it's your money at the end of the day that you're giving to the government
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right? If you're not doing it right, you're giving them more money than they actually require
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So paying that accountant 500 bucks or something for his time, you end up saving $4,000, $4,500
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or whatever, how much you get on your tax return compared to when you did it yourself and you got
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$2,000 back because you did it wrong, right? It makes sense to trust a professional and someone
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who does it for a living and who actually enjoys doing it compared to you that hate it, that
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doesn't want to do it, and does it as quick as possible and misses all these opportunities to
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save money, right? So it's in your best interest to get a professional to do it and actually care
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about taxes because when you get that check, oh boy, it feels good. Lastly is not properly using
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credit cards. So let's say you wanted to buy something, but there's a credit card out there
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that gives you points to do that exact same thing you intended to do. So groceries or gas or
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airplane miles, right? So it makes no sense not to use these cards because they reward you for
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doing the thing you intended to do. So having a card or multiple cards for all these different
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things makes a ton of sense. Just make sure to track them all and make sure that they're paid
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off because you don't want to have some unexpected bills. But in the end, it should help you a lot
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And yeah, those are some of the bigger ones and I'm sure there are many others. And if they do
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come to mind, put them in the comments down below. I'd love to read them. But until then, I'm Evan
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and thanks for watching. If you liked what you just saw, then click on the video here
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