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Working Together

Posted by The Huffington Post on April 8, 2015 by Morgan Quinn

Many budgets are like leaky buckets — they are full of holes. Most holes are small and hardly noticeable, but those little drips can add up over time. Well, it’s time to patch up your leaky budget and start saving a greater chunk of your paycheck. Here are 40 ways you’re mindlessly blowing through your hard-earned money every day.

1. Paying Too Much on Housing

Since housing is likely your biggest monthly expense, this is where you can really make or break your budget. Personal finance experts recommend spending no more than 30 percent of your income on housing. You can spend even less and save more by getting a roommate or moving to a different neighborhood or a city where it’s easier to save money.

2. Spending Too Much on Car Costs

Aside from housing, transportation is likely your next biggest expense. Buy a reliable and affordable used car, try to live close to where you work and consider taking public transportation to cut down on gas and maintenance costs.

3. Wasting Energy

Utilities can eat up about 7 percent of the average U.S. household’s budget, reports Lifehacker. You can lower that number by conducting an energy audit on your house to find energy leaks such as old windows or water heaters. Even renters can improve their energy efficiency by using insulating curtains and unplugging appliances. Every little bit counts.

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