13 Things You Can Stop Wasting Money On

Mandi Woodruff

The shopping mall isn't the only place where consumers blow cash on pointless purchases.

"We're likely to spend money on something we don't need if we get what we think is a good deal and assume the item might be handy at some point," says Danielle Lescure, a professional organizer. 

Stumped on whether it's worth the cash? Ask yourself two questions:

-Does it serve a real purpose? 

-Do I have somewhere to keep it?

With the items on our list, your answers had better be NO. 

Cable TV

With the advent of Hulu, Netflix, Amazon Instant Video, video game shortcuts, Apple TV, and just about every major TV network posting shows online, there's hardly a reason to splurge on a fancy DVR system or even basic cable–so long as you're willing to be patient. 

Most shows are added at least 24-hours after airing and some networks won't give them up until eight days. 

See 15 great alternatives to cable TV here.

Bank Fees

Banks clearly love to slap you with fees at the drop of a hat, but that doesn't mean you've got to put up with it.

"Consider going with a credit union, which are better than banks in many ways, to avoid some of these fees," says Andrew Schrage, founder of MoneyCrashers.com.

"If you travel abroad often, make sure you use credit cards without foreign transaction fees, otherwise you'll be paying an extra 3% to 5% on all your purchases." 

Extended Warranties

Retailers push hard to sell you extended warranties — and conveniently pump up their sales figures at the same time.

Don't do it, Schrage warns. 

"The only instance I'd recommend a warranty is in the case of a laptop. Otherwise, the warranties themselves can often cost as much as simply buying a used or new replacement for your item, or repairing it," he added.  

The roof over your head

If you're blowing most of your income on a loft in Midtown, you're making a BIG mistake, says Jeremy Gregg, executive director of the PLAN Fund. 

His organization provides loans to low-income entrepreneurs, who Gregg says he often sees spend more than half their income on rent and utilities. 

The U.S. Department of Housing & Urban Development recommends spending less than one-third of your income on housing. 

See the rest of the story at Business Insider

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