You’ve always had that nagging feeling that you don’t have your life together, but maybe you’re waiting for the perfect time to finally get it organized. However, have you ever considered the financial impact on a daily basis? Disorganization is costing you real cash, both directly and indirectly, and especially in the long run. Here are 10 ways you might waste money by not getting your life together. I hope this gives you the kick in the pants you need to take action today!
#1 Subscriptions You Don’t Use
You knew this one was coming. The gym membership you signed up for on January 1st — last year! The magazines and publications you pay for and only read once in a blue moon. The Disney+ account you haven’t used since The Mandalorian ended (wait, is that just me?). These subscription fees silently hit your bank account each month, and they can definitely add up. This is your friendly reminder to cancel the unnecessary ones today!
#2 Unplanned Meals Out
Of course there’s something to be said for a nice dinner out with friends, brunch with the fam, or celebratory drinks and apps every so often. But you can also find yourself starving while out and about. Without the proper planning, you often have three options: cheap junk food, $20 bowls of lettuce from the “healthier” chains (I’m exaggerating but you know it’s true), or a full-on sit-down meal.
#3 Paying Higher Prices Last Minute or At the Door
Organizing your life means organizing your calendar and your finances. Prices for travel and events can spike at the last minute, so planning ahead can save you cash in the long run if you do end up opting in. Plus, having a handle on your finances will give you more flexibility to pay at a time when prices are low, rather than waiting on your next paycheck.
#4 Overage Fees
Be honest with yourself. Have you been trying to “save money” on your phone or internet bill, only to get dinged with overage fees? It’s time to either cut back your usage, or up your plan to accommodate. Do a quick self-audit on your devices to see where that data is being used up. You can even apply a cap on certain apps that tend to use more data than you would like.
#5 Late Fees
Pay on time, that’s all I can say. If you need help with this, you can:
- Set up reminders on your phone each month, or annually for items like filing your taxes
- Set up auto-pay for consistent recurring fees
- Consider whether the items you’re paying for are even necessary
#5 Interest Charges
Paying interest is a fact of life in many cases – car loans, mortgages, student debt, etc. And of course, emergencies do happen. But with the security of an emergency fund and the forethought of a well-organized life, you can avoid or minimize interest charges in almost every other area.
#6 Parking/Speeding Tickets
This one kind of speaks for itself. If you’re planning your time wisely, you won’t need to worry about always running late! Give yourself time to drive safely and find permitted parking. If violations are a common occurrence for you, it might be time to reevaluate your routines that are causing you to feel rushed.
#7 Buying Multiples of Things You Can’t Find
In Marie Kondo’s bestselling book, “The Life-Changing Magic of Tidying Up”, she recommends organizing your home by category rather than by room. This wasteful trend is exactly why. You’ll find multiples of the same item all around the house, because you couldn’t find the original and bought a new one! Organizing your home to suit how you think and live your life is key to kicking this bad habit.
#8 Lack of Leverage when Negotiating
If you’re reliable with payments, you will often be given opportunities to save money over the long term. This can show up through better interest rates, avoiding increases in rent or monthly fees, or even negotiating decreases in those fees. But these chances will go out the window if you’ve fallen prey to disorganization. Take care of the items you’re borrowing (your apartment, car, phone, etc.) and again – pay on time!
#9 Time is Money: Staying Focused
Your time is valuable. Whether you’re working in your job, diving into a hobby, or enjoying relaxation, it’s important to do it wholeheartedly. If those blocks of time are compromised by stress, distraction, or a constant shifting of priorities, you are effectively wasting time that you could be spending more wisely. You could even invest that time into pursuits that earn you money in the short or long term.
#10 Not Being Able to Determine What You Really Want
Do you have a vision of your dream life? How much time, energy, and money are you wasting by pursuing anything but that life? While this might not be the most immediate drain on your finances, the opportunity cost of going after what you’re truly passionate about can be huge. Plus, if you’re supplementing your happiness with other superficial purchases, then it’s definitely time to make a change and finally get your life together.
Which of these money-wasting habits do you see in your own life?
If you’re ready to finally get your life together this year, it’s time to find the support and accountability you need to succeed. Book a free intro call with me to get started!
