Biggest Money Wasters

Many of our visitors report not knowing where all their money goes. If this sounds like you, watch out for these common overspending culprits.

Small Daily Luxuries Add Up Big

You may not think it's a big deal to grab a latte and a newspaper every morning, but over the course of a month, this could add up to hundreds of dollars. This is money you could be saving to rely on instead of paycheck loans. Watch your "small" daily expenses on things like coffee, fast food, vending machines, etc. These kinds of expenses add up over time, and, for the most part, they are things you can do without. Cutting out these kinds of expenses will help you reduce your need for paycheck loans.

Buying in Bulk

A good rule of thumb is that, unless you consume in bulk, you probably don't need to buy in bulk. In fact, it will probably end up costing you more if you do. If you're feeding a family of eight, then maybe you can justify a 20-lb can of baked beans. Otherwise, it's just wasted money. You will probably end up throwing out what you don't consume, and that is essentially throwing away money. Buying in smaller quantities will help you save money instead of having to borrow paycheck loans.

Wining & Dining

Do you have a few beers every day after work? Do you eat lunch at a restaurant every day during the week? If so, you are easily spending hundreds of dollars each month on food and drink. You probably could do without those $6 beers after work, and a restaurant lunch will cost you anywhere from $50-$100 per week. Try bringing your lunch instead to save and avoid gaps in cash flow that drive your need for paycheck loans.

Interest

Paying interest expense is the equivalent of throwing money away, so you want to avoid it at all costs. If you have debt, you'd be surprised how much you spend per year on interest. For most consumers, it's in the thousands. If you saved this money instead, you could virtually eliminate your needs for paycheck loans and other types of borrowing. Work on paying down your principal to avoid costly interest expenses.