Chances are that you have several financial drains in your home that are causing you to spend your hard earned money without getting anything real in return. Some of these drains are easy to cut off while others may require a little more work. All are worth solving. Take a look at the list of items below and see if you can plug the plug on the following money drains.
Old Refrigerator
Do you have an old refrigerator or freezer sitting in your basement or garage? It could be an energy hog that is draining you of money every month. If you calculated the cost of what it takes to keep your extra beverages cold you might be shocked. If you have a want or a need for an extra fridge or freezer invest in something that won’t drain you. A mini fridge or an efficient freezer for stockpiling might just make a lot more sense and cost you less in the long run.
Storage Facility
If you have your stuff in a storage facility, think twice about leaving it there. Monthly storage for items that you aren’t using on a daily basis can get expensive. I hear so many stories about people who spent thousands of dollars on storage, only to wind up giving away everything they had stored.
Unless you are moving and need temporary storage for less than three months, I suggest that you either find someplace in your home for your stored items or get rid of them altogether.
Credit Card Debt
You don’t have to carry credit card debt. Every month that goes by with a balance means another month of interest draining your money. Pay off your credit cards as soon as you can. Hold a yard sale, work some extra hours or a second job and do whatever you can. This way you can cut off that money drain and keep more of your income.