5 Money Saving Tips That Really Cost You

Sure, it might be nice to be independently wealthy and not have to worry about pinching a penny here or there. But how many of us are really able to ignore a great deal?

Numerous tips, tricks, and advice on saving money are readily available. While most of them are great, not all apply to every situation.

Here are five ways people think they'll save money, but they usually don't.

For example, Amazon Prime subscription costs $14.99 per month. But the annual subscription, currently priced at $139, will give a $40 savings. But do you use Amazon prime every month?

Annual Subscription

Warehouse Club Membership

There are savings to bulk purchases and the club's product line, but is buying in volume essential? Or are we simply buying them for the discount?

Handling cash is inefficient and inconvenient. The changes after purchase are cumbersome to manage and easy to lose. Unlike credit cards, paper money is not secure. If you lose it, you can't get it back.

Using Cash Instead of Credit Cards

Refinance, like every home mortgage, comes with a closing cost. It is usually 3%-6% of the loan amount to cover loan origination, underwriting, and administrative fees.


While online shopping boasts easy access from the comfort of your bedroom, the FirstInsight report shows impulse purchases are more common during in-store shopping.

Shopping In-Store Vs. Online

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