Money is a devious little two-faced thing that no matter how much you budget efficiently, there are still instances that you’re left with nothing, without even having a clue on how it happened.

Like in any situation, you should first determine the problem for you to be able to find a solution. So, let’s leave no stones unturned and find out why money is slipping through your fingers no matter how tightfisted you are.

1. Purchasing Low Quality Products

Being frugal doesn’t just mean saving money, but it means spending your money wisely. Buying a sturdy product at a higher cost is far better than buying a cheaper alternative that breaks down easily. Investing in good quality products will not just help you by having a more reliable product but your wallet as well.

2. Spending On Services You Can Do Yourself

It’s true that you have to treat yourself every now and then, but you should take a good look on how often you’re indulging. We often you’re choose convenient services simply because we’re in a hurry or  because you think the other person could do a better job. But really, all it takes is a little planning and practice to do those jobs yourself. You’ll be surprised how a simple recipe you’ve prepared and tweaked to your liking tastes better than that special delivery you always order.

3. Buying Things Just Because They Are On Sale

S-A-L-E! That four-letter word attracts you like a magnet and before you know it, you’re diving into that too-good-to-be-true 70% off or two-for-one deal. But if you think about it, that promise of a good deal is nothing but a marketing moneymaking ploy to lure you to buy things that you really don’t need. So, save yourself and cross that word out of your vocabulary.

4. Ignoring Banking Fees

Whether you withdraw money from out-of-network ATMs, fail to maintain a minimum balance, accidentally bounced a check or pay for something abroad, your bank is leeching on your money. So, you better plan ahead and pay extra attention to the fees that you’re being charged. Those $2 ATM fee’s start to add up and often your bank is only an extra block away.

5. Leaving Electronics And Appliances Plugged In

You may not realise it, but that plugged in phone charger or laptop charger though turned off actually raises your electric bill. So, make an effort to unplug as many electronics or turn them off at the switch, especially big-ticket items, when you’re not using them.

6. Overlooking Credit Card Interest

One of the fastest ways to becoming penniless and getting buried in debt is by not paying off your credit card every month. Credit cards usually have a high interest rate that compounds over time, so say goodbye to your hard-earned money if you’re delaying those repayment on your credit card purchases or just paying the minimum balance.

7. Drinks

Drinks are an easy way of throwing away your money. They vacuum that cash as quickly as you quench your thirst. Do you really need that soda, fresh juice or sparkling water to survive? You won’t just be saving money but you’ll also become healthier if you ditch these.

8. Not Planning Your Meals

Estimating how much food you’re going to consume in a week or a month sounds like an impossible task. But when food spoils, then that’s money down the drain. All it takes is a little attention and research to save money. Know how to store your foods properly and how long different foods stay fresh on the counter, in the fridge or in the freezer.

9. Taking Gift Cards And Coupons For Granted

Gift cards and coupons are as good as cash! So, check your drawer for some unused gift cards and use them to purchase item’s you’ll most likely purchase. Don’t throw those coupons away; use them on your next social gathering with friends , not only will you get to try a new venue though you’ll all receive the discount offer!