July 22, 2013

July 22, 2013

10 Bad Spending Habits

Welcome to another day in my life. Today is Monday and I hope you had a beary safe and great weekend. It was another busy weekend for Dab the AIDS Bear and me.

People living with HIV and AIDS have a lot of medical bills. Even if you are not on medications yet, you still have doctor and lab bills. Once you start on medications, the bills can really escalate quickly. So most people have to watch every dollar unless they are lucky enough to have a large income.

So what can we do to correct bad spending habits. Well first we have to recognize those habits and that is what I will be blogging about today and tomorrow. You can break these habits and save even more money.

1. Out-of-network ATM fees

Racking up fees by using ATMs that aren't on your bank's network? Switch banks or open an account at a bank that's more convenient to where you live/work. "Foreign" ATM fees average about $2.50 per transaction, says BankRates.com. That's more than $250 per year if you use out-of-system ATMs just twice a week!

2. Bottled water

Getting your recommended daily amount of water exclusively in bottled form can easily cost more than $1,000 per year, as compared with about 50 cents per year for just-as-healthy tap water. If your tap water has a chlorine flavor, try refrigerating it overnight before drinking.

3. Oil changes

Regularly changing the oil in your vehicles and staying on top of routine maintenance are good habits to have, but if you're still changing your oil every 3,000 miles, you may be wasting money. Newer vehicles often use synthetic oils that can last 7,500 miles or more. See the website checkyournumber.org for oil change info for newer model vehicles. It's a pretty slick way to save.

4. Incandescent light bulbs

Even though they cost more, "compact fluorescent lamps" (CFLs) those crazy corkscrewed light bulbs last about five times longer than old-fashioned incandescent bulbs and use about 75 percent less electricity. That could easily add up to a net savings of $10 per bulb per year. Bright idea!

5. Extended service plans

Don't be a sucker for the sales pitch trying to sell you an extended service plan or warranty of electronics, appliances and other merchandise. They're rarely a wise purchase, and typically go unused or forgotten by the consumer. Most merchandise comes with a manufacturer's warranty that's sufficient for most defects and repairs.

Tomorrow I will finish blogging about five more bad spending habits to help you save money.

Hope you have a beary safe and great start to your week!

Until we meet again; here's wishing you health, hope, happiness and just enough.

big bear hug,

Daddy Dab