My biggest money leak is spending more than planned on loved ones. It happens all the time and it is so hard for me to say no and I almost never do. I always try to give them the best which is not affordable. With more nieces and nephews joining our family, it keeps getting more expensive. My love for them blinds me to the cost. I have been working for years to be more intentional with my gift spending and have a long way to go.

@Clevergirlfinance

Жыл бұрын

Thank you for sharing. This is very common and you are not alone. What has worked for some people is having a separate account where you save each month and that for gifts. You will still have to set boundaries around how much you spend on gifts. Please also check out this article on our website: www.clevergirlfinance.com/blog/how-to-say-no/

Money leaks - broke family members!

@Clevergirlfinance

Жыл бұрын

😂😂😭😭😭

@the_live_in_podcast

Жыл бұрын

Screaminggg😂😂😂😂😭😭😭

@milliebutterfly

Жыл бұрын

You said it 👏🏽

@orobinson721

Жыл бұрын

NO LIE!!!!

@nienkepeters4940

Жыл бұрын

LOL

Yesterday, I identified a money leak. It was a subscription I canceled in September but was still being charged. I explained the situation in an email to customer service and was refunded 3 months of charges. This was settled in less than ten minutes.

For several years, I took a taxi to work nearly every day, even though I'd paid for my public transport city card - just because I couldn't get myself together in the mornings and being late wasn't an option. I don't even want to think about how much money I wasted this way. That was my biggest money leak.

@laccosh4513

Жыл бұрын

I'm so happy i made productive decisions about my finances. I'm a single mother, bought my first house today and set to achieve more goals this year.

@jennyr.cordero2018

Жыл бұрын

@@laccosh4513 Congratulations. You're really doing well for yourself, I aspire to own my home, that's really a big flex….I would appreciate if you share tips, thanks.

@eugenereyes6238

Жыл бұрын

I think 2023 is going to be a better year if people know how and where to channel their energy for financial benefits. I don't know who agrees with me but crypto or real estate is a good way to make things happen.

@laccosh4513

Жыл бұрын

@@jennyr.cordero2018 I think I was just lucky, I don't know how I manage to come across this broker and professional cryptotrader by the name Brianna Megan. So far I've made good profits

@tessstokes999

Жыл бұрын

Hey! Please who is this advisor of yours? I learned the hard way that success really means total knowledge and I hope she can help me get back what I lost. Can I have an easy access to reach out?

Money leaks are only those expenses which you're not getting value. Bank fees, unused subscriptions, insurance you never wanted... this is all some admin which will save you money. If you get value from your gym membership, or from eating take-out once a week, don't feel bad about it! Look at your savings goals and make YOUR judgement on what are money leaks, and what are expenses you're happy paying because they bring you value. Humans are emotional creatures, and sometimes silly things bring us happiness. Don't punish yourself, empower yourself to be in control of your finances without cutting out fun and enjoyment from your life!

@kevinchy1925

Жыл бұрын

I canceled my insurance because I was just persuaded to sign up to it in the first place. I regret not canceling it earlier.

With the amount of people suffering from hunger in the world, put food in the trash is not a money leak, it's a moral leak.

It makes me cringe when frugality community says that a gym membership is a waste of money! I have - and for the last 25 years always had- a gym mebership and it is the single best investment in my health and appearance!! I have not set my foot in a doctors office in these last 25 years, and have not had to change my wardrobe because of weight gain. There’s your saving right there .

@discoveringhealthandfinanc8328

Жыл бұрын

So you don't get an annual check up or woman annual exam?? Please go to doc immediately. Health is more than just looking good...and to be fair, you don't need a gym to live a healthy active lifestyle.

@dpayne1943

Жыл бұрын

Why would it make you cringe? She is not saying it is a waste of money or not worth the cost. Her point is, and it is true, most people who are paying for a gym membership are not going or going very infrequently. Those are the folks she is advising. And, by the way, be grateful for those folks as they keep the cost of your gym membership much lower than it would be if only the folks like you were paying.....fact! And please stop spreading a lie that the gym will keep the doctor away, that is not true. Yes, exercise and good eating habits help a lot, but they are not the silver bullet that will totally prevent illness.

@adriennegarcia2986

Жыл бұрын

It’s only a money leak if you don’t use the membership ! If you’re using it then it’s not a leak!

@MsDezB1

Жыл бұрын

Great! Then she's not referring to you.

@tania2918

Жыл бұрын

I totally agree with you Agnes, but I don't think that was what Bola was arguing ..I think she was talking more about the people that join the gym in that January resolution (we see them every year around that time, right?) and then don't make it a priority or a habit and they end up not going and still paying for it. That's where I believe Bola was coming from.

My biggest leak is not doing any free activities with my friends. We eat out or order food, we go to bar... since we graduated and we can't see each other on campus, we only see each others in places where it is expected of us to spend money. And because I love my friends, I'm bleeding out cash. I should really think about free activities we can enjoy together, and ask them to do that instead of going places.

@bupekabamba6017

Жыл бұрын

Walking, going over to each other's places, meeting at the park for a picnic

@tracyneville4264

Жыл бұрын

YES YES YES THIS. Museums sometimes have days with free admission, play games, make vision boards, watch something together, cook/bake, do yoga, do a photoshoot

Sometimes the shipping costs is cheaper than driving to the store most of the stores I shop from are over two hours away. Can you imagine the mileage on a big SUV. Not to mention hauling the kids with me , which means getting food , and buying other unnecessary things. I always try to get free shipping but in rare cases it’s worth it😊. As for as the coffee, it was such a great investment purchasing my Nespresso machine. It saved us so much money to make coffee from home. I even bought the specialty syrups so I felt that I wasn’t missing out on Starbucks. The streaming networks like Netflix although I have most of them, I found out it’s cheaper than taking the kids to the movies because most of the movies end up on Disney etc . It makes more sense these days to stream them. The movies end up on these streaming platforms so quickly, so we save watching movies at home. We save another $60 not paying for the following: $30 or more for popcorn , snacks , candy , soda, etc ; and of course another $30 for tickets. Great tips thx for sharing

@Clevergirlfinance

Жыл бұрын

Fantastic points and tips! Thanks for sharing❤

Buy less makeup- it goes off. There should only be what will fit in a cosmetic bag. Anymore than that means you are an mua!

@molebogengm7456

Жыл бұрын

Good tip

@Clevergirlfinance

Жыл бұрын

Great tip! Yup make up expires!

@so.many.obstacles

Жыл бұрын

@@Clevergirlfinance I made the mistake of purchasing $400 in makeup to wear to my cousins wedding. It expired before I could use it all, because I don’t wear a full beat daily. I also was buying premium makeup when I should’ve just gone to a drugstore.

@justalina_S

Жыл бұрын

Seen this comment just in time! I was going to order 2x mascaras because they weee on sale but the truth is I have 4 already 😬 all of which are unopened. I do struggle not to buy sake items and will try harder to work on it.

Amazon is a money pit for me. I think I’m going to cancel it all together. I got a new office and first thing I do is go to my phone to order new decor. Just stupid spending.

@beckieinnc12

Жыл бұрын

I have a friend who took her card off of Amazon so she had to type it in every time. She said it cut her spending on Amazon by almost 70%. I might do the same thing.

For streaming services, always check with your cellphone provider. I get Netflix and paramount + for free with my T-Mobile family account. And 6 months free of Apple TV. Also, checking my credit card statements has helped me identify some unnecessary insurance that was added without my consent. Calling them to remove it is such a hassle.

@charletfoster8917

Жыл бұрын

🙏🏿😊

@kayciable

Жыл бұрын

I second the insurance, I was charged for insurance that I no longer had. It was an annoyance to get them to reverse the charge.

@Floratic

Жыл бұрын

Isn't Paramount+ only free for the first year with T-Mobile?

@DelightfullyMe

Жыл бұрын

@@Floratic it is. Netflix is ongoing and Apple TV is free for 6 months. I’ll take it tho 😀

I put everything im not eating immediately in the freezer.

Wasted food is absolutely my biggest money leak. I tell myself that i need to meal prep or learn quick meals to make but sometimes the meat i thawed out for dinner will just sit in the fridge because i opt to just go to bed so i can get up for work instead of make dinner 😅 so its a gamble of if i can get myself to use my ingredients before they go bad in the fridge sometimes My other money leak is my boyfriend! He forgets that he got free trials and that he needed to cancel them! My amazon prime went up $13 bucks because he forgot 2 video subscriptions and then changed the password and then forgot and now i cant cancel until he figures out the login 🤦‍♀️

My biggest money leak is definitely eating out. I love food and I find so much joy in eating out with friends, but my current finance project is to stop buying prepared food when I'm alone (work lunches, eating out when I'm running errands, "treating" myself to a falafel after the gym). My strategy going forward is based on the idea to pay yourself before you pay others - I'm transferring about $400 into a different account at payday and then not allowing myself to transfer money back out of that account in order to buy prepared food for myself. It's sort of making yourself "fake broke" in order to shift the mindset from not thinking about these expenses as anything important, AND once I'm used to it, it will make a higher rent seem like no big deal as I'm currently looking to move into a larger flat and my budget for rent increase is around $400.

@sct4040

Жыл бұрын

If you have a match 401k account, pay that first then use what’s left.

@PetWessman

Жыл бұрын

@@sct4040 I'm Swedish, so I'm not sure what a 401k account is, that seems to be an american thing - but I'm sure it's great advice for someone it's applicable to. What I didn't say in my comment is that I already have my savings set up (pension, long-term, emergency account, short-term, and shopping accounts) as well as pension savings through my job on top of my state pension - getting those things settled should absolutely take priority over making sure you can afford more expensive living.

My money leaks are my kids! 😂

@Clevergirlfinance

Жыл бұрын

😭😭😂😂

@orobinson721

Жыл бұрын

SAME!!! And, it's the grown ones for me.

@avenj4659

Жыл бұрын

Funny AND true

@MarimoMare

Жыл бұрын

N.B.: Best pregnancy is a planned pregnancy

@loen2629

Жыл бұрын

@@MarimoMare what does a kid being planned or not have to do with them being money leaks? 😅

My major money leak has been Affirm and Klarna. These are companies that allow you to pay in four. Such a trap! If you can pay for it out of pocket, do that. If you cannot, save and wait to buy it. Also, Uber/Lyft. I spend about 250/month, but I do not have a car and use Uber/lyft in the AM to get to work. I do take public transportation in evening. In the AM, public transportation is less reliable.

@sarataylor4537

Жыл бұрын

Yes these are mines I have 1200$ worth now smh and fast food daily smh

I can’t give up the bottle water. I don’t trust the City I reside in water system.

@sct4040

Жыл бұрын

I bought a Brita pitcher and filters, but I understand your suspicion and trepidation. Look what happened in Flint, Michigan. The city employees poisoned people to save $100.

@TamaraNJones

14 күн бұрын

I haven’t bought bottle water in years use filter on water they are even in portable water bottles.

Not buying paper towels and using cloth instead has ended a money leak.

@tammya5403

Жыл бұрын

See now… I feel obligated to buy paper towels because my roommates do it and I want to contribute to the household… but I’m going to stop immediately. If they need paper towels, I’m sure they can get it themselves.

@emilykimball3790

Жыл бұрын

Do you have a specific brand of cloth "paper" towels? My husband is arguing about pet care, and for his sandwiches to keep them dry but it's a hassle to me.

@stoutpig

Жыл бұрын

I have old washcloths I use as rags. But sometimes I need a paper towel. Some things are just disgusting to clean. 😊 I buy paper towels at Gordon Foods or other restaurant supply stores. You can get a lot for less. They aren’t the fluffy select a size but get the job done.

@sct4040

Жыл бұрын

I use both, can’t go without paper towels for messy stuff.

@sct4040

Жыл бұрын

@@tammya5403 You can contribute by buying cheap kitchen towels for mopping up water on the counter, then wash them as needed.

11. Alcohol and cigarettes.

Money leak for me was coffee and eating out.

@avenj4659

Жыл бұрын

Oh definitely eating out for me too

@TNTV1103

Жыл бұрын

@@avenj4659 yes....I be damn I spent that much this month

Comment on the free shipping: A lot of stores will just pad the product price to cover shipping and give you "free shipping". I think this should say to not pay for additional shipping fees such as a rush fee.

Good points! Thank you

Very timely message....money leaks we have identified in our marriage include eating out, impulse buying, subscriptions, etc.

Thank you so much for this. I have seen my service subscriptions as a major leak. Fixing this asap.

Wonderful video yesss thank you so helpful!!!!🤗

Nice reminders. Ty 💞

We waste hardly any food! This is such a big one. I hate cooking and hate spending money going out. So I cook enough food to last a few days. This way I only make food my family and I love to eat so eating it for 2 or 3 days is fine. Also my husband always takes care of heating up the food on the extra nights so I don't have to do anything. Nice break. I rarely ever throw anything out this way, but if I do it's usually a Cucumber or tomato that went bad quickly...I throw it in compost though so it's not a total waste. Also I refrigerate all of my veggies and fruits. They last 10 times longer. I only take them out to ripen if needed. I freeze left over noodles and sauces and meats, etc if I know they aren't going to be used.

Regarding gym membership: Before getting a membership check whether they have a trail deal, something like "try our gym for 4 weeks and pay this reduced amount!" After that trail period you can re-assess whether you actually like that gym, like going there and only then get a membership (or not)

I added up the cost of Uber, Seamless, and Drizly for 2022. I wanted to vomit!

@Clevergirlfinance

Жыл бұрын

Time to work on cutting back in those categories!

@metroprepper9017

Жыл бұрын

What’s drizly?

@mcleanroom7997

Жыл бұрын

@@metroprepper9017 It is an alcohol delivery service in NYC. I always order wine via that service. Not anymore!

@metroprepper9017

Жыл бұрын

@@mcleanroom7997 oh, gotcha!

Insurance! Check if some are not redundant. Do not pay twice for the same service. Read the contract. The small letters too...

Everyone wants to save the planet. Then why do we have foam plates and cups , p lastic forks, knives, spoons. Why is it cheaper than paper? If you have a savings, check out C.D.s. I got a 4% on a 7 month c.d. Better than sitting there. It's worth checking out. Great video!

Thank you for sharing these , I can relate with the first two points and I will pay attention to Free shipping/Delivery going forward

@Clevergirlfinance

Жыл бұрын

Glad it was helpful!

Car - or any insurance policy really - needs to be shopped around for once a year minimum, for a number of reasons. One way I have been able to save on premiums was to point out to the rep that my commute - and annual mileage - is in the four-figure range. Insurance companies will automatically rate a policy at the standard average mileage of 12 - 15 000 miles a year. So if you have a shorter commute, or do more working from home these days, it pays to mention that. Mileage-based policies might require you to plug a sending unit in your OMDB port. Mine required me to send them two maintenance invoices a couple of months apart that showed the odometer reading.

@Clevergirlfinance

6 ай бұрын

Great tips - thanks for sharing!

I love this channel. Thank you Bola. I never paid for cable … Ever, and I just unsubscribe from the last streaming service. bye bye Netflix! I always had antenna and for me it was enough. I don’t use paper towels … microfiber clothes and a good dish soap are your best friends. I never buy water bottles… ever! Thank you Marshals for the cute glass water bottles. When I travel, I use travel credit cards that don’t charge international transaction fees! This was my biggest money leak in the past! The points are not too bad either. I never buy coffee. I invested on a Breville coffee machine 10’years ago when they still had a no questions asked return policy for life 😅 My son will be going to college this fall so I will be getting read of the car soon. The insurance is killing me. Every penny I saved went into student loans, credit cards debt and additional payments toward the mortgage principal. Thank you Bola for the wonderful tips over the years.

Food has been a money leak for me. I went back to Hello Fresh. I’m a single person and can get some meals a week for $70. I just wish the shipping was free. I eat the these meals for dinner only. For lunch I usually have a salad and I don’t eat breakfast since I do IF. Shopping wise there are certain things I buy name brand and organic. I will put more money into my food and cut back in other ways.

@Clevergirlfinance

Жыл бұрын

Thanks for sharing!! Food is definately that one to lookout for. You also want to eat well and make it work for you. Continue to do your best in this area and cut back where you need to.

@dtyallen9864

Жыл бұрын

Your investment is better health which is irreplaceable if lost. Pay higher medical costs if your health fails, so you are saving money.

Hello Bola thank you for the insightful information 🙌, I am asking if you can make a video on how you take care of your hair and maintain your style, I love how you do it, I want to find a hairstyle that I can stick to so that I can save and don't wast my money for hair plaiting,any advice please i will appreciate.

Great advice

Thank you for another encouraging video. I have a tiny money leak, which is my monthly subscription for virtual document storage. It costs only $1.99, but I was thinking of investing in an external hard drive. This way, I could cancel my subscription.

@Clevergirlfinance

2 ай бұрын

Be sure to back up the external drive - this way you have your info in the event of loss or damage. The $1.99 virutal storage may be worth it.

Thank you for the advice ❤

@Clevergirlfinance

2 ай бұрын

You're so welcome!

Thank God i found these channel😊👍 really helpful tips...newbie here...

money leak of putting up all those christmas lights. now a wreath on the door

@SuzanneU

Жыл бұрын

I use the same lights year after year anxx fc put them myself. They're LEDs so the electricity cost is minimal. Of votes, I only have lights in the living room.

Cable. Yes, I still have it. Was supposed to get rid of it Jan 1. Now....aiming for Feb 15. Unless they can offer it at 1/2 price.

@Clevergirlfinance

Жыл бұрын

Do it! Thanks for tuning in!

@imarip9781

Жыл бұрын

Honey even if you are paying half the price, if you don't really use cable it's a waste! Just get rid of it and put the money elsewhere

The money leak of unused gym memberships is spot-on. Two things about that, tho. If you shop around for a cheaper gym that ends up being further away than one with a higher fee, chances are you will go less often. Surveys have shown that the sweet spot is a ten minute trip from your home. Any longer, it becomes much easier to simply not go, making the savings of a lower fee meaningless. The second thing is it pays to stick with the same gym. MOst of the memberships are structured to compensate the sales person who sold you the membership first. By the time you renew, many of the commissions and junk fees drop off. If you pre-pay for more than a year, the per-month average is lower than anything offered for the short term.

@Clevergirlfinance

6 ай бұрын

Thanks for sharing!

Uber Eats and Deliveroo - sometimes over £250 a month i.e. the equivalent of my monthly food bill + 2 very nice meals out.

@Clevergirlfinance

Жыл бұрын

Oh wow! That's a lot. It can happen to the best of us. How will you stay on top of this moving forward?

@shiningstar7775

Жыл бұрын

@@Clevergirlfinance I've deleted the apps and now plan to stick to my weekly food shop

You are preaching to the choir here, but this was very well done and bang on. Please keep it up!

@Clevergirlfinance

Жыл бұрын

Glad you can relate!

I went over my phone bill and managed to cut $45 off of by getting rid of charges for things I don't use..that's a month by the way..

I'm disabled so my biggest money leak is grocery delivery fees and tips. Plus often the prices are higher than in store. I'm not sure how to get around this as I can't drive or leave the house on my own. It's frustrating

@Clevergirlfinance

Жыл бұрын

Sometimes services off delivery discount coupons including groceries. So you can try to look some coupons up online. It can save you some money here and there.

@emusic96785

Жыл бұрын

Have you contacted places that serve people with disabilities who might have volunteers to help you?

@divyas2433

11 ай бұрын

Consider Walmart in-home.

10. Perfume

#5 Is big for me because of convenient Amazon subscriptions & streaming/gaming services for the kids❤️♾️❤️

Starbucks coffee and paid shipping

Definitely spend on paper towels! 💸💸

Recently i found out I was double paying a bill. Didn't notice until the 2nd month. Fixed the auto pay so it doesn't happen again.

@Clevergirlfinance

Жыл бұрын

See if you can get a refund too!

I stopped using disposable razors- my men’s electric razor keeps me smooth for way less money and will last me years.

Yeti brand water bottles are the best reusable water bottles. They don't have that plastic ring that gets stained after multiple uses and washes.

Daily Food money is my money leak

Netflix was charging me for 2 subscriptions also. They only gave me a refund for the last 6 months or a year I think. I had it for years and never noticed, smh.

the devil is in the details. thank you for the *new + refreshing* content.

@Clevergirlfinance

Жыл бұрын

We appreciate you so much for tuning in!

Eating out or takeout food, food waste, forgetting to turn off the light and wifi because I passed out for the night😅

Bank fees( over a 100/mo) food throw away, name brand purchases. Please, let me know what I can do

@sct4040

Жыл бұрын

TD bank convenient checking, $100 balance per month will give you free checking account.

Good i

I literally just came here to say how beautiful you look.

money leak- Tim Hortons French vanilla Coffee, and Amazon subscription. bank fees,

not disney double charging you!!!!!

Mine is FOOD and More Food... I'm not a cooker so saying cook at home is a waste of time.

@imarip9781

Жыл бұрын

learning to cook can be fun, especially making better versions of what you buy from the takeout

My kids are my money leak 😜

@Clevergirlfinance

Жыл бұрын

Hahaha

❣️👌

How about STOP buying stuff online fullstop.. Forget postage costs.. Thats weak.. You wanna be debt free? Stop buying just stop!! Come on.. This is weak Advice sorry but you need to be way more serious about all this to live debt free.

@user-eu3qy8uf7f

Жыл бұрын

This is true. We are so programmed to spend spend spend. I have reigned it in a lot over the last five years. Doing very well now.

@Revert2017

Жыл бұрын

There are a lot of people living in rural areas where it costs so much less than driving 90 minutes each way to WalMart . My sister is disabled. She used to get an Uber to go grocery shopping- now she purchases off Amazon. I get your point for sure- but there are a lot of people for whom online is, basically, a necessity and this is great information.

@sarahmilner8483

Жыл бұрын

@@Revert2017 yes of course for those people its ideal and makes a lot of sense but Im talking about everyone else

@sct4040

Жыл бұрын

I only buy necessary goods and food, then I allow myself a $13.99 subscription 2-3x a year at Ipsy. I discontinued department store cosmetics, and skincare. Only drugstore skincare and bars soaps now.