This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Ways You're Wasting Money, Not Saving It

One of the most frustrating aspects of trying to save money is when you think you are saving, but in reality you're wasting money. This usually happens when you have made bad assumptions when making a purchase or you haven't analyzed the true costs of a purchase.

Here are five common ways people waste money when they actually believe they are saving it:

1. Buying gas at the least expensive gas station.

While this would seem obvious, the problem occurs when the least expensive gas station is a few miles off your regularly traveled route. If you are driving across town to save a few cents per gallon, the cost of driving to get the better price will negate any savings the cheaper gas price provides.

Solution: Choose the least expensive gas station that is no more than a mile from your regularly traveled route. You can keep informed on which gas station is selling gas at the best price at such sites as Gasbuddy or MSN Gas Prices.

2. Going to different stores to get sale items.

People often believe that they are saving money by looking at the weekly discount ads that stores send out and finding the best price for each product they need. The problem is that by driving all around town to the different stores, you waste all of that savings on the cost of operating your car.

Solution: Find the closest store that will price-match. While many stores don't advertise that they will price-match, a fair number of stores still do. You may need to ask the manager to confirm whether or not the store does. Once you have located a store that will price-match, simply buy everything there and bring in the competitor's ads to get the best price.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%
YHOO $36.61 0.06%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs