I hate ATM fees. Hate.
Talk about a waste of money. I firmly believe ATM and credit card fees, as well as bank overdrafts are piranhas in the world of personal finance.
These days, some banks charge up to $5 per transaction if you get cash from a machine that is not in your ATM network. Meanwhile, some banks charge $25-$45 per overdraft violation.
Don’t get hit with these frivolous fees. Instead, plan ahead so you have cash on hand without having to hit up an ATM that’s not approved by your bank. To avoid overdraft fees, each time you use your debit card write the withdrawal amount in a ledger in your wallet so you can keep track of how much money you have.
Another huge waste of money for me is my lack of will power when it comes to snacking at work. I am a sucker for vending machines, especially at the end of the day when I am tired and hungry. According to financial experts, it’s very easy to spend up to $8 per day buying overpriced snacks and beverages from vending machines. Save money by stocking up on snacks and drinks at the grocery store and remember to pack them in a lunch bag and bring them to work. Consider how much cash you can save if you buy a box of bagged snacks at the grocery store. You can usually find ones that contain 20 bags in a box for about $10. That’s much less than having to shell out $1 a bag from the vending machine.
Speaking of eats, fast-food is another waste of money. If you do the math, you will see that value meals are of no real value to your health or your wallet. Think about it: The average fast food meal costs about $6, so if you’re spending that much for lunch each day, then you are wasting between $30 and $42 per week on unhealthy food. You can save money by packing your own lunch or making fast food an occasional treat, not an every day option.