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Ways to Waste Your Money - Slide Show


By Erin Burt, Contributing Editor, Kiplinger.comCameron Huddleston, Online Editor, Kiplinger.com |Kiplinger – Fri 20 Sep, 2013 9:30 AM IST
Nearly everyone has holes in their budgets. And as with other kinds of leaks, you may have hardly noticed some of them. But those small drips can quickly add up to big bucks. The trick is to find the holes and plug them so you can keep more money in your pocket. That extra cash could be the ticket to finally being able to save, invest or break your cycle of living from paycheck to paycheck.
We've updated our popular list of money-wasters with even more tips and resources to help you cut unnecessary expenses from your budget. Consider these 28 common ways people waste money. If any of them sound familiar, start plugging your budget holes right away.

Carrying a Balance

Debt is a shackle that holds you back. For instance, if you have a $1,000 balance on a credit card that charges an 18% rate, you blow $180 every year on interest. Carrying a balance can also cost you down the line in the form of a lower credit score that will trigger higher interest rates on your loans.
Get in the habit of paying off your balance in full each month - or at least limiting your balance to 25% or less of your available credit.

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