Five Biggest Money Killers to Be Aware Of

People frequently say they want to cut their expenses but do not know where to begin. 

It can be difficult to spend less on necessities like rent or insurance, but there are many things you spend money on every day that you can reduce or cut out completely.

Coffee

Sure, it’s convenient to hit the drive-thru on the way to work, but $4 a day for a latte adds up quickly.

You can brew coffee at home for a fraction of the cost, especially if you are splitting it with your roommate or significant other.

Even a Keurig would be a better investment than your daily Starbucks run, especially if you snag one on sale.

Premium Cable

Many people opt to pay for specialty channels, like HBO or Showtime.

Costing you an extra $15-$20 each month, this is one area you may want to cut back on. Instead, look into services like Netflix, Hulu and Roku for movies.

If your parents have HBO, you can use their account information to access HBO GO for free.

Plus, many channels stream their shows for free online the next day– if you don’t mind not being as up-to-date on your shows as your colleagues are, you may be able to do without cable altogether and just use a channel’s website, Netflix and Hulu to stream shows.

Movie Theater Snacks

Movie theaters charge anywhere from 2 to 5 times the regular price for items like popcorn and candy. Try planning to watch a movie after eating a meal so you won’t be hungry, or sneak in a candy bar in your purse.

Bank Fees

If your bank charges you yearly fees for your accounts, it may be time to look elsewhere.


Credit Unions and Community Banks often do not have the fees associated with larger banks.

If you frequently overdraft your account, it’s time to take a look at your spending habits and start keeping a better eye on your checkbook.

If you often find yourself paying extra fees for using ATM's not associated with your bank, either go the extra few blocks to hit up your banks ATM or consider switching your account to a bank that is convenient for you.

Or consider taking cash out when you make purchases at the grocery store or convenience store.

Bottled Water

If you’re shelling out $1.50+ per bottle of water, you’re spending way too much.

You will save a ton of money by investing in a decent water bottle and a filtration system for your fridge or faucet if you insist on not drinking tap.