You’ve read enough clickbait articles to know avocado toast, Starbucks lattes, and millionaire’s bacon are the villains of the financial world. But you probably didn’t need to read those articles to realize you can’t afford them. Some money decisions are common sense. Despite the sweet, warm goodness those lattes promise, cutting out this steamed luxury is an obvious financial decision. If you can’t afford a $5 latte every day, then you shouldn’t charge a $5 latte to your credit card every day. Unfortunately, it’s not always this easy to figure out how you should be spending your money. Sometimes, you end up making costly mistakes without even realizing it. Check in with these two senseless habits and make sure you aren’t wasting your money.
Relying on ATMs every time you’re out :
While Amazon is waging a mobile war to push us into a cashless society faster every day, there are still many places that accept only cash. Your local dive bar or the hockey rink may ask to settle your bills using the loonies and toonies in your pocket. But you’re getting used to relying on mobile payments and your credit cards, so you rarely carry cash. Resorting to the nearest ATMs, you end up eating the fees whenever you do encounter these cash-only establishments.
Depending on your bank account and the ATM you use, you could spend anywhere between $1 and $7 for the privilege of using these machines. If you hit up an ATM regularly, think about how much money you’re wasting. Try to schedule a convenient time to swing by your nearest bank branch, so you can take out the cash you need for the week. By adding this chore to your day, you can avoid eating significant banking fees.
Choosing your loans indiscriminately :
Nobody likes to borrow money, but it’s a reality of modern life. You can’t do much without relying on financial assistance. From going to school and buying a home to making an essential repair and paying for an unexpected trip to the vet, there are plenty of reasons why you need some help from time to time.
Just because you can expect to take out a mortgage or personal cash advance at least once in your life doesn’t mean you can be careless with your choice of financial assistance. Not all loans are made the same. What works for one situation or one borrower may not work for your circumstances.
Be particular with your lender. Make sure you spend time researching how the rates, terms, and conditions may affect your ability to use and repay this assistance. Though this essential step is your own responsibility, lenders like GoDay make it easier for you by being transparent with all their fees. They share info about their services in the simplest terms. You can visit GoDay to learn more about these details and not have any fears of being confused.
The bottom line: it’s the little things that count :
When you can make an informed decision with your choice of financial assistance, you’ll save money on fees and interest — just how you can save some extra cash the next time you avoid the ATM. These may not get the same attention from the media as avocados or lattes, but they can wreak similar havoc on your finances as any of these trendy culinary delights. Eliminate them along with that daily Starbucks run and you’ll find some extra savings!
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