I think it’s important to be honest with ourselves when it comes to our money. Moreover, it’s important to take stock of our personal finances regularly. Doing so allows us to nip problems in the bud. We become accountable to ourselves, which helps us financially. Therefore, here are five money mistakes I want to own up to from the past month:
1. I Forgot to Review My Subscribe and Save
I’ve signed up to receive a variety of items through Amazon’s Subscribe and Save program. Overall, this benefits in me two ways:
- I save 5% – 15% on the items I buy regularly.
- I don’t waste time shopping for things I have to buy regularly.
However, I try to review my cart each month before it ships. I cancel items that it turns out I don’t need right away. Unfortunately, I failed to do that this month. Ultimately, I’ll use everything that shipped to me. Nevertheless, I could have saved that money and used it for something else this month if I hadn’t forgotten to do that review.
2. I Wasted Too Much Food
I order delivery from HungryRoot as well as from Farm Fresh to You. Unfortunately, I forgot to stagger my deliveries. Therefore, I ended up with too much fresh food. Instead of cooking it and freezing it, I let too much time go by. As a result, I ended up throwing away food, which I hate to do.
Additionally, I ordered takeout too often. I wanted to satisfy cravings. However, that meant more food in the fridge going to waste. And money wasted.
3. I Skipped a Dentist Appointment
I made an appointment for my next cleaning at my last cleaning. When they reminded me, I confirmed the appointment. However, the day of the appointment was a day of struggle for me. Therefore, I didn’t go to the appointment. Because I’d already confirmed, they charged me a no-show fee. What a big money mistake!
4. Impulse Purchases
I truly believe in ethical fashion, which means buying sustainably through small, independent businesses. Moreover, I believe in reducing consumption. And yet, for various reasons, I found myself impulse shopping on Amazon. I ended up with two new jackets (although I may return at least one of the two now that I’ve had time to think about it.) I was self-soothing with retail shopping instead of dealing with my emotions. That’s always a big money mistake.
5. I Forgot to Renew My Student Loan Term Agreements
I am on an income-based repayment plan for my student loans. Once each year, I’m supposed to provide the lender with financial information. It’s part of the process for staying on that repayment plan. However, I forgot to do that in time. As a result, I ended up paying more than usual this past month. I’m able to go back and repair that. In other words, they didn’t kick me out of the plan. However, I could have used that money for something else this month – like repaying other high-interest debts!
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Kathryn Vercillo is a professional writer with more than a decade of experience writing about healthy living and personal finance. She lives in San Francisco, where she has learned to maximize frugal living tips in order to thrive as a freelancer in one of the nation’s most expensive cities. When she’s not writing, she’s exploring the city on foot with her rescue dog. Learn more about her at www.kathrynvercillo.com. Kathryn also writes about saving money with coupons over at GroceryCouponGuide.com .