One of the biggest questions many successful women ask is where their money is going. You earn a comfortable salary, save and you don’t spend frivolously, so where’s all that extra money at the end of the month? After all, you’d like to take what you don’t spend on entertainment and extras and add it to your savings account once your new monthly budget kicks in, but there never seems to be anything left. Where’s it going? Probably to one of these three sneaky places.
Many of us are guilty of spending way too much on dinner. Whether it’s take out on the way home or multiple dinners out every month, we spend hundreds of dollars each week on dinners that we don’t eat or need. Think about it; you spend $100 on dinner one night and what did you actually eat? Probably just the couple glasses of wine you ordered and the free bread that was served before your meal arrives. Maybe a bit of that salad; either way, it doesn’t sound like $100 worth of dinner.
Did you know you spend hundreds of dollars each year on automatic debit fees? For example, perhaps your mortgage company charges you a $7 fee to pay your mortgage online and your insurance company takes an additional $5 each month for fees, the bank that holds your car note charges $6 per month to pay online and everyone else also charges a fee. Then there’s the fees you aren’t even aware of, such as that old movie account you don’t use but you still pay for or that online dating site on which you met your husband two years ago that still charges your credit card $30 per month. It’s a lot of money when you think about it.
The bill comes, you and your friend had dinner together, and no one split the bill. You don’t want to be the one to ask because you don’t want to look cheap, so you toss your card down on the table and pay for both, telling your friend this one is on you. Or you do it at the bar, or you pay for her movie ticket because she’s a few minutes late and you want to go in. Either way, if you’re spending money to avoid awkward situations, you’re wasting money.