Money Monday: 9 Common Money Mistakes - Part 2 - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Money Monday: 9 Common Money Mistakes - Part 2

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BATON ROUGE, LA (WAFB) -

Because the US has become a nation of bulk buying, statistics show the average American family wastes as much as 20 percent of the food it buys.

That common money mistake costs families $2,400 a year.

Impulsive shopping is another common money mistake.

The impulse tick can lead to an overload of clothes or cosmetics or tee shirts.

The desire for the latest gadget is another downfall for many. Maybe you want the latest iphone or tablet computer. By simply waiting, sometimes a matter of months, you could save up to 20% from that original advertising blitz price.

Over downloading music is also a common area where many of us throw money away.

Wasted gym memberships are another. Most memberships cost an average of $40 to $70 dollars, but if you are using them, it's money out the window.

With a little common sense, research, and patience, you can avoid common money mistakes, and make good use of the cash you save.

 

Here's a list of 9 of the most common money mistakes:

1) Buying bottled water when Baton Rouge tap water ranks No. 2 in the nation

 

2) Buying new car instead of gently used car

 

3) Borrowing money to buy things that lose value

 

4) Ignoring your credit score

 

5) Wasting food you buy

 

6) Impulsive shopping

 

7) First in line to buy new gadgets, like tablet computers

 

8) Over downloading music

 

9) Unused gym memberships

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