Everybody needs debt advice these days. In this time of economic turmoil, it is important not to waste money on unnecessary expenditures. And there are certain things you just shouldn’t be spending your hard-earned money on. Here we offer some debt advice on items you should not spend money on:
1. Things that can be borrowed
Think movies, books and music. Why go out and buy the latest movie or CD when you can get it free online, or from a friend? Books can be borrowed from the library, which itself seems to be a dying source. Enjoy your free sources while you still can, and save your money for the more important things in life.
2. Warranties
Most experts will agree that warranties are a huge waste of money. Warranties on cars and similar big purchases may prove useful, but paying for an extra warranty on a DVD player or cell phone is a waste of money as most of the time you won’t need to use it. Skip the warranty and save your money.
3. Insurance
While many would disagree, insurance should only be purchased if you know exactly what you are buying and if you really need it. Whether home insurance, health insurance or car insurance. Speak to an expert on insurance before signing on the dotted line.
4. Subscriptions
Almost anything can be read online these days, so why waste your money on magazine subscriptions? And once you read a magazine cover to cover, then what? They end up gathering dust on the coffee table or in the garage. Cancel any subscriptions you have and rather read magazines online. You can even do this with your local newspaper.
5. Bank fees
Overdraft fees and excessive ATM fees are hard to avoid, but it can be done. For one, try to visit the ATM only once a week. Draw all the money you will need for that week, and avoid small withdrawals. This will help curb unnecessary bank fees.
6. Food
We all need to eat. But think of the last time you emptied your fridge and found spoilt goods. In order to prevent this from happening, and wasting food and money there is debt advice you can take. Firstly, plan your meals and buy things you can freeze. Also, if you are known to waste your food, do not buy in bulk.
7. Tickets
Some of the smartest people can’t avoid traffic or parking tickets. Indeed, sometimes, we often risk the cost of a ticket for a secure parking. But speeding and parking illegally is a huge waste of money. Here is some debt advice to help you curb unnecessary tickets:
- Try to dispute parking tickets in court and bring along photos and other evidence.
- Don’t park illegally – as simple as that.
- Although speeding can save time, it will cost you money. Compare the few extra minutes saved to the amount you end up paying for a ticket.
- Do not argue with a traffic officer, he may just push up your fine even further.
- Driving while talking on a cell phone is illegal, so try to avoid doing it.
Author bio
This article was written by Debtsolver and offer debt advice.