Nobody likes the idea of wasting money, so we all try our best not to do this. For the most part, we attempt to create budgets and avoid spending money on unnecessary things. That’s great, these are good first steps to take. However, did you know there are many ways you’re wasting money around the home? Some of these things are hidden and you don’t even realise you’re losing out on some extra cash. With that in mind, here are three of the most common instances where you’re wasting a decent bit of money:
Wasting water when brushing your teeth
Generally, water waste is a big problem. It’s fair to say we are all guilty of using more water than we actually need in our homes. This comes in the form of elongated showers, leaving the water running when you wash up, and many other examples. But, the biggest problem is when you brush your teeth.
Every morning and evening, you let the water run while brushing your teeth for two minutes. That’s four minutes per day of the water running non-stop – and that’s only for one person. In a family of five, when everyone brushes their teeth separately, you’re spending 20 minutes a day with the water running. The worst thing is, it doesn’t need to be on at all. This adds up every week and month to contribute to massive water bills. It’s a complete waste of money.
Leaving appliances on standby
Again, something we are all guilty of doing. We finish watching TV or playing on a games console and press the off button. In our heads, we have turned the appliance off and it no longer uses electricity. In reality, most things will go into standby mode. Here, they don’t use as much energy as when they’re turned on, but they still use some. Throughout the year, this can lead to around $100 of wasted money.
That may not sound like much, but that could be $100 towards Christmas presents or a holiday for your family. Switch things off completely at the socket to ensure they are not in standby mode. 
Hoarding valuable items in your attic
Finally, one of the biggest ways you’re wasting money is by letting things lie in your attic – or anywhere else in your home – instead of selling them. There are countless old items you never use that could be sold to make money. For instance, old vinyl records are extremely popular and a set of them could give you a few hundred dollars instantly. You’re probably wondering, who buys used vinyl these days anyway? And the answer is a lot of people! Collectors, enthusiasts and many other individuals love buying old stuff like this.
If you have loads of old things lying around collecting dust, look online to see how much they’re worth. Hoarding stuff will be a huge waste of money as it’s almost like you’re sitting on a fortune you refuse to use. In more technical terms, think of it as liquidating your assets and turning them into cash!
Tackle these three problems and you’ll be well on your way to saving more cash and getting extra money.
