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  • All right, let's jump right in.

  • According to a recent study, Americans are wasting $18,000 on nonessential items a year.

  • $18,000. Guys, that could be going toward paying down your debt, retirement or even your emergency fund.

  • I mean, you could do so many things with that money.

  • Could you imagine if you had that money saved in the bank, how much better you would sleep at night versus spending it on stuff that really doesn't matter?

  • Well, I put together a list of categories of things that you do not need to spend money on, okay.

  • And I've broken them down into three different categories.

  • The first one: subscriptions.

  • Smartphone apps, yep. They can get expensive.

  • I may or may not have purchased workout app that I thought you had to pay a little bit each month.

  • No, no. They charged ole Rachel's account the entire amount.

  • So I got charged $109 for this dang workout app that later, come find out, it had workouts that basically you could get from the Nike app for free.

  • But, oh, it just broke my heart and still scarred me to this day.

  • But really, we can waste a lot of money on apps.

  • Even those games that you're addicted to.

  • Yeah, it's like well 99 cents to buy this thing here or that thing here, and it just seems harmless.

  • But when you look, Americans spend almost $100 a year buying stuff in their mobile games.

  • Yeah, it's crazy.

  • Also, subscription boxes.

  • Yeah, like Birchbox, Graze, Stitch Fix, BarkBox.

  • These are all really fun.

  • They're super convenient, but if you're getting out of debt, especially, or saving up for your emergency fund, places that you can cut.

  • Ah, cable, mmm, I'm sorry to say it, but it's true.

  • Things like cable, Hulu, Netflix, Amazon, YouTube TV, all of these subscriptions that are aroundyou can cut those.

  • Because the average cable bill is $85 a month.

  • That's over $1,000 a year.

  • So remember, it's 2019. There's so many free or cheap options that you can have to watch TV, so look into that.

  • And I even went and looked at the top ten shows on TV right now, and eight out of 10 of them are on free TV.

  • So you don't need cable or a subscription to watch those.

  • So you can keep up with the trends of all the great shows without spending all the money.

  • All right, the next category that you don't need to spend money on is in the financial space, okay.

  • Timeshares, oh, no, no, no.

  • The average timeshare will cost you around $19,000, plus you have annual fees every year, and they're basically impossible to get rid of.

  • People are always wanting out of timeshares, and they can't get out.

  • Now if you're stuck in a timeshare and you really want to get out, there's an amazing company that will help you: Timeshare Exit.

  • So I'll put a link in the show notes to link to them, so make sure to check them out.

  • Also in the financial category is whole life insurance.

  • We talk about life insurance on here a lot, but it's just true. Whole life insurance is going to cost you 10 times more than term life.

  • Get it out of here.

  • Extended warranties. Research shows that if you need a repair on an appliance, the majority of the time, it is even outside the warranty time.

  • So save that average $126 people usually spend on the extended warranty. Put it back in your pocket.

  • Last but not least in this category is the lottery.

  • Yes, the average American spends $223 a year on the lottery, which equals $80 billion overall.

  • And we all know the stats about the chances that you're going to win the lottery.

  • Okay, it's not gonna happen.

  • Let's just throw it out there. It's not gonna happen.

  • So save your money there.

  • And the last category you don't need to spend money on is when it comes to clothes and fashion.

  • The average American spends $3,000 a year on clothes.

  • I mean, how many times have you walked into your full closet and said, "Oh, I just don't have anything to wear?"

  • Yeah, it happens to me. I'm guilty of that.

  • But you know what it comes back to?

  • It's not that you don't have anything to wear.

  • Obviously you do, but it's a heart issue.

  • It's a contentment issue.

  • And so contentment is a huge part of this money message, you guys, and so we put together a special bundle for this episode that pairs my "Contentment Journal" with my book "Love Your Life, Not Theirs," because they pair so well together.

  • And again, it gets you in this place of practicing contentment.

  • So you can check that out if you click the link in the show notes.

All right, let's jump right in.

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B1 US contentment life insurance cable category lottery spend money

Are These Trends Draining Your Bank Account?

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    Lian posted on 2019/09/17
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