There are many habits that we all have that can lead to wasting money. We often don’t even realize that we are wasting money until we do an analysis of our expenses at the end of the month or in some cases at the end of the year. This report is all about money-wasting habits that we all need to stop. Take a look at the top 10 money-wasting habits below.

1. Using Out-Of-Network ATMS

Withdrawing from an ATM is convenient and easy, but can be costly. Switching from using out-of-network ATMs to ATMs that are associated with your financial institution at least once per week, will result in approximately $240 in saving per year. They are also banks that provide refunds of ATM fees for checking accounts.

2. Not Creating A Budget

It has been reported that only 41 percent of people in the US use budgets. You can’t stick to something that doesn’t exist, budgets are specific to the person creating it. Be creative with your budgeting, swap fine dining for picnics, if you overspend on entertainment find affordable, fun alternatives.

3. Using Credit For Everything But Not Repaying

Using credit cards to fund everything can cause concerning financial burdens, even though credit cards are convenient and have their perks like improved credit scores for example. Unless you are able to pay off your balance each month, you run the risk of accrued interest, try spending less than 30 percent of your available limit.

4. Paying Credit Card Minimums Only

A definite way to increase debt is to only pay the minimum required amount towards your credit card balance each month. Many cards only require cardholders to pay up to 3 percent of the monthly balance. Not only does this result in paying more later, but interest will accrue significantly.

5. Paying For Unused Services

Forgetting is easy when it comes to automatic charges from website subscriptions or gym memberships or even on-demand television services. Make sure you go over your monthly bank statements and take note of the fees for unused services and immediately cancel them. You may even find services that were canceled but are still being paid for.

6. Not Checking Your Bank Statement

Not checking your statement on a consistent basis can result in unrecognized spending habits and this can lead to less saving and more spending. Also, discrepancies can be missed, for example, charges for items or services you never purchased. Thieves usually start by taking very small amounts to see if the account owner notices before stealing larger quantities.

7. Not Shopping Around For The Best Deal

Researching the best prices and reading the small print on contracts are time-consuming but are often worth the time spent doing it. Have you ever noticed that the awesome discount enjoyed at the start of your internet or cable service gradually increased? You can save by deciding to watch television through an internet service rather than cable or going the entire nine yards and switch services.

8. Not Having Enough Savings

A recent survey found that 39 percent of the respondents had no money saved and 57 percent had less than $1,000 saved. It takes money to save money, but not as much as people may think. Try making a conscious effort to reduce expenses and place even the most modest amount away into a savings account. Every time you are paid, consider placing a portion of your salary into savings. Financial gurus suggest aiming to have stashed away enough that would cover expenses for at least three to six months, should it be suddenly required.

9. Not Investing

In 2017 persons in the US, their biggest regret was not investing in the stock market. Investing in stocks, bonds, and mutual funds might seem foreign if not well-versed in finances, or might be unrealistic if you have a relatively huge amount of debt. But investing modestly can assist greatly in getting out of debt. For example. if you invested $100 per month for 40 years, you will have an estimated $600,000 in your portfolio. If you do the same for 10 years, you’d have an estimated $150,000. That sounds good.

10. Giving Up When You Make A Mistake

Once you are human, you have made mistakes. If you get caught up in thoughts of shame or regret, it can be easy to give up but don’t. Even if you haven’t maintained savings or created a budget at all over the years or find yourself swimming in debt, there is always hope and progress to be cultivated. So forgive yourself, learn from your mistakes, and move forward.

There we have it, 10 money-wasting habits that we all need to stop. Take the time to go through each of these points again to see which one applies to you most. By eliminating these habits you’ll save a lot more and eventually you’ll be financially independent.