Stop throwing your money away! Biggest budget busters and money - Spokane, North Idaho News & Weather KHQ.com

Stop throwing your money away! Biggest budget busters and money wasters

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SPOKANE, Wash. -

We love spending our hard-earned cash. But it’s often on things we don’t necessarily need.

Hidden expenses are destroying our bank accounts. But is there anything we can do about it? Or will we just fall victim to financial failure?

If you’re not sure, we’re here to help. Here is a list of some of the biggest budget busters and money wasters.

  1. Groceries: The average cost to feed a four-person family is between $553-$1,075 a month. If you buy generic brands at lower-priced stores you could save $5,000 a year.
  2. Food Waste: Americans waste between $180-$285 each year on leftovers and between $215-$360 a year on groceries that go bad.
  3. Alcohol: Cutting a $5 beer or glass of wine a week can save you $260 a year.
  4. Water: You can save more than $100 a year by drinking two fewer $1 bottles of water a week.
  5. Entertainment: Skip the theatre and wait for Redbox to save $10 on a movie.
  6. Cable: If you cut your cable cord and use Netflix, Hulu, or Amazon Prime, you can save more than $500-$1,000 a year.
  7. Dining Out: Skip one $20 restaurant meal a week and spend $5 at home to save $780 a year.
  8. Cigarettes: One pack a day over 50 years would cost $89,000.

Other Money-Saving Tips

  • Buy off-brand food, medicine, and clothing.
  • Make coffee at home (Americans spend $15 a week on coffee on average).
  • If you skip the gym, skip the $40 per month membership.
  • Don’t buy snacks at the convenience store.
  • Be careful with rebates (60% of Americans don’t cash them in).
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