199 Money Leaks Sabotage Your Finances, Don't Let This Happen To You

<h2> </h2><p><strong>So what are money leaks? </strong>Money leaks are small expenses that add up over time.</p><p>This can include anything from buying take-out for lunch every day to paying for subscription services that you no longer use.</p><p><strong>What causes money leaks?</strong></p><p>Leaking spending results from poor financial planning and impulse purchases that you may not consider expensive at the time, but over time, these purchases add up quickly.</p><p><strong>What role does a lack of planning play when it comes to money leaks?</strong></p><p>Poor budgeting and financial planning make it easy to fall victim to leaking spending. If you aren’t monitoring your spending and recurring expenses, you’re likely to overlook many areas in which you could be saving money.</p><p>Discover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: <a href="https://bit.ly/3dbperG">https://bit.ly/3dbperG</a></p><p>Plan your budget in advance and cut out the unnecessary purchases that don’t fit within your budget. Here is a list of money leaks for you to be aware of:</p><ol><li>Cable Subscriptions – use streaming services instead, however not too many</li><li>Take out food, delivery food orders, cook at home instead</li><li>Prescription drugs, instead of name brands, purchase generic drugs that cost a lot less.</li><li>Phone Plans, in particular data, plans excess data usage, late payment fees, etc.</li><li>Bank fees, minimum monthly fees, maintenance fees, ATM fees, overdraft fees, consider opening an account without fees</li><li>Subscriptions – email fees for businesses, magazines, online books with Amazon, music, etc.</li><li>Gym Memberships can be excessive unless you use it on a regular basis to improve your health, it’s a good investment, of not to consider home equipment such as a stationary bike, it will help you save money in the long run.</li><li>Meal Plans can be expensive. You can do better by using coupons at local grocery stores an