There are many very useful tips about how not to waste money in this CNN/Money story, highlighted by the first item on the list where my guess is that people routinely pay four or five times as much as they should for little pieces of plastic sold at places like Target.
- Paying full-price for tech accessories
- Not using the data you pay for
- Subscribing to Netflix and Amazon Prime
- High-priced organic food
- Leaving stuff crammed into a storage unit
- Forgetting rewards, points and miles
- Weekly visits to the dry cleaner
- Your cable company’s modem rental plan
- Failing to program your thermostat
- Broad index fund you assume is a bargain
- Insurance policies from different providers
- Unspent funds in your FSA
Regarding that second item, I could never bring myself to commit to the monthly charges for a smartphone (and we don’t really need one anyway), but I’m guessing that data plans are a huge waste of money for many, if not most people. They’re either paying for high-priced connectivity that they don’t use or they’re doing things on their smartphone that they could do on a laptop for a tiny fraction of the data cost.