11 Ways You’re Wasting Money Without Knowing It

Are you wasting money without realizing it? Do you spend money on things you don’t know need without realizing that you do? Sometimes we waste money without noticing or realizing that we do. To save money, you need to take into account the things that you spend money on or the ways you spend money. 

There are some things you need to stop buy in other to save money. There are some habits you need to stop in other to save money.  

Even as a personal finance blogger who knows the importance of saving for the future, I still fall victim. Sometimes I spend money on things I don’t need without realizing it. It's easy to fall into bad habits and waste money without realizing it.

But after stopping some of these spending habits, I started saving a lot of money. Checking on these items can put a good amount of cash in your pocket, and you can save money. 

So Here Are the Most Common Ways People Are Wasting Money Without Realizing It.

Credit Card Interest

Easy ways to save money

Do you have so many credit card debt and interests in piling up?  We all need credit cards once in a while to either build our credit or make payments when we don't have cash available.

Having so much credit card debt will not save you from financial stress but will sabotage your financial health. Credit card interest is one-way people are wasting money without realizing they do.

Interest on credit cards are very high, and the more or longer you owe them money, the more it increases.

According to Nerdwallet, credit card debts have hit $443.96 billion in September 2019 and increased by almost 6%. 

For example, you owe a credit card debt of $3000, and your monthly minimum payment is $90. You pay your minimum payment of $90, and then the interest of $67 to $70 is added to your account. From the above example, you only paid around $20 monthly, which means you will need over 5 to 10 years to pay up if you stick to paying your minimum payment.  

To fix credit card debts, try to pay the full balance to accumulate thousands of dollars. Also, set up an auto-pay to avoid missing any payment and ensure all payments are on time. Stop wasting your money on credit card interest and save them for the future.  

Unused Gym Memberships

As the saying goes, health is wealth, but you don't have to spend too much money in doing so. Do u have any gym memberships that you don't use again or u barely used? Do you overpay for a gym membership? I will advise canceling these memberships you've meant to cancel. 

If you're currently shelling out the big bucks for a fancy fitness club, you can cancel it and start to work out at home or Parks to save money. 

Fancy Coffee

Stop wasting money

Everyone loves coffee, mostly the ones made by fancy shops like Starbucks and so on. Do you know how much people spend on buying coffee daily? We all need the morning coffee ritual to get going and savor-worthy. 

Rather than buying coffee at a fancy coffee shop, you can brew your own coffee at home. This will save roughly around $130 a month. Getting a nice coffeemaker means you'll forego your fancy brew from the local coffee bar and save money. 

Not Using Cashback Apps When Shopping 


Cashback is the best way to shop online and in-store; with these apps, you can get back some cash. Whether you're shopping for clothes, booking flight tickets, or any other retail store, there is a chance that you can make cash back when you spend money.

There are so many cashback apps and sites you can take advantage of a save money. 

Check out the Top 5  Money-Saving Apps To Use In 2020

Manicures  And Pedicures 

This is for the women in the house, and we love to take care of our self.  We always want to get a good manicure/pedicure, but we don't have to pay for it every week or 2 weeks. Instead of going to the spa every 2 weeks, you can do it at home.

Get a home spa treatment and paint your own nails. You can opt for a quarterly or half a year visit to the spa instead of a 2-week visit. Doing your manicure and pedicure at home will save you money in the future. 

Hard Copy Reads

Are you a lover of books? Do you often purchase books in hard copy? With the advanced technology level, there is no need to buy hard copies of the books you love.

You can buy digital copies rather than hard copies to save you some cash. The books' digital copies are less expensive, and you still get to read all the goodness! 

Movie Tickets

We all want to get entertain and have fun once in a while, but we don’t have to break the bank to do it. Going to the theater to see a newly released movie is not cheap as tickets are expensive. Buying movie tickets is one way people are wasting money without realizing it.

The average cost for a movie ticket is $9.11, is amount does not include snacks and drink or water. So why spend that amount on just one movie when you can use it for a whole month’s subscription and still watch other movies.

Save yourself some money and wait for the movie to come to Redbox or better still wait and watch it at other media subscription services like Netflix.

Bank Fees

Bank fees

Bank hidden fees are some of the little things in the banking industry that no one tells you about.  These fees seem small on a one-time basis, but these charges can be so much in the long run. This might be a little way to save little change when you try to avoid them when possible.  

With these little bank fees, you won't notice that you are actually wasting money.

Below are some of the bank fees to look at for:  

ATM fees – Many banks charge $5 or more whenever you withdraw money from another bank’s ATM. Always try to look for your bank ATM whenever you want to make any withdrawal whenever, though some credit unions offer free ones. 

You can also opt to do a cash back at the supermarket as they will allow you to withdraw up to $200 at the register.  

Checking account fees – Most large banks charge fees for  Not maintaining a minimum balance or some number of transactions monthly. This fee can be up to $10 monthly, depending on the bank.  Check out the helpful comparison by Nerdwallet on the best checking account and how to avoid offers unnecessary fees. 

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Paper Plates and Plastic Silverware

We all get lazy sometimes and what to get things done fast and easily. Personally, I don’t use paper plates and silverware all the time; I try to avoid them and only used them when I have people visiting or hosting a party. Also, remember paper plates are killing the tree and not good for the environment. You can save some cash by avoiding paper plates and getting real plates. 

Eating Out Always 

So many people spend so much money on eating out. Just imagine eating breakfast, lunch, and dinner at your favorite restaurant every day. Do you know how much money you will spend? Why not opt for homemade food and go out to eat once in a while and not frequent.

I personally eat out once every two weeks with my family, and that is it. This has saved us a lot of money, and we know how our meals are prepared at home. 

Unclaimed Money

Missing Money

Do you know are millions of unclaimed every year? This unclaimed money can be from old apartment security fees to payroll checks from old jobs or forgotten bank account, even trust distributions. Every state in the US has a program designed to return lost money to the rightful owners. 

In other to know if you have any unclaimed money, visit  MissingMoney.com and fill in your name, city, and state and then click on search.

If there is any unclaimed money after your search, you can start the claim process through the website, and the state will send your check within two weeks.  Always remember to search for every state you have lived in. 

Final Thought 

You don’t have to trade your happiness to save money, but sometimes we should check how our money is being spent. Always approach your finances with balance and feel empowered to save for the future and still enjoy the good things.

Ensure you are spending for a good reason and not just wasting money. Know when to stop spending and save for the future. 

Let me know in the comment if you're wasting money without realizing you do. Also, tell me things you do in order to save money! 

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Michael launched Wealth of Geeks to make personal finance fun. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.