5 Common Expenses You’re Probably Paying Too Much For


Are your monthly expenses adding up faster than you can pay them? Many people often pay too much for common life expenses like credit card payments and insurance. Check out these everyday expenses that often wreak havoc on budgeting.

Credit Card Interest

Many Americans keep a running balance on their credit cards rather than paying them off each month. Keeping a running balance means you are paying interest fees, which can range depending on your credit score. Most personal credit cards have an APR higher than 10%. Imagine paying 10% more for everything that you buy. If you put these charges on your credit card, that’s exactly what you’re doing. You can reduce your credit card debt reliably each month using several different methods. Paying off these cards each month will reduce how much you pay in interest each month to zero.

Cable & Satellite Bills

If you have a traditional cable or satellite service bill, you’re probably paying too much. The average American spends over $100 on a paid-TV package. That cost can be reduced by switching to digital streaming services and opting for a digital antenna. With streaming options available from Netflix, Hulu, YouTube TV, and services like Sling and Philo, there’s no reason to pay exorbitant prices for TV. If you’re stuck using paid-TV packages because you enjoy sports, see if ESPN offers a paid streaming package that may suit your needs better.


Insurance gives us peace of mind to take care of us when disaster strikes. But many people are paying too much for their insurance needs. Shopping for online car insurance quotes lets you compare rates instantly between different companies. You may find significant savings by shopping around. Many insurance companies offer cheaper rates for car and homeowners who bundle their insurance. Make sure you inquire about the potential to save money through insurance bundling. Even if you don’t own your own home, many insurance providers will bundle renter’s insurance with car insurance.

Gym Membership

Sure, we all have the best intentions when the New Year rolls around. You’re going to get in shape and stay fit and the best way to do that is by going to the gym, right? Well, that’s probably not the case. Gym memberships and fitness classes can take a hefty chunk out of your budget. It’s even worse if you’re always making excuses for why you can’t exercise. At-home workouts can be just as beneficial as going to the gym, and many of them are entirely free. Start by looking up workout videos on YouTube from passionate fitness trainers. You may find that you prefer having the freedom of working out from home anytime you like.


Do you have a bad habit you’ve meant to drop? Perhaps you smoke or drink a bit on the weekends to take the edge off. Smokers and habitual drinkers spend more than non-smokers in a variety of ways. Not only must they support their daily habit, but life expenses like insurance and healthcare cost more. You can live a healthier lifestyle by cutting out a smoking habit and limiting drinking to an occasional treat.