Spending leaks are simply expenses that can sap money from your weekly budget without you really noticing. They're often incidental items which may seem small in themselves, but which nonetheless add up over time. For example:
- a daily take-away coffee
- buying your lunch at work every day
- incurring avoidable bank fees (e.g. overdrawn account fees, or fees for using "other bank" ATMs)
- avoidable utilities expenses caused by leaving lights on in unused rooms at home, or not fixing dripping taps
- impulse buying at the supermarket (e.g. magazines at the register).
Identifying the culprits is half the battle when it comes to plugging the hole in your budget once and for all and converting a spending leak into a savings windfall. Here are some tips to help you do just that.
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