Tips to plug up your ‘cash drains’

Published: Jul. 19, 2021 at 6:56 AM EDT|Updated: Jul. 19, 2021 at 5:50 PM EDT
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RICHMOND, Va. (WWBT) - It isn’t those big purchases that drain your accounts and sabotage your savings, it’s all those little things you buy that add up. Whether it’s your morning coffee run or your cable bill, there are so many ways to cut out frivolous spending.

Start with your essentials like bills. You’d be surprised how much you can save just by making a couple of phone calls.

You can’t negotiate your power bill, but you can find better rates on things like insurance, cable, internet and your cell phone.

Does your bank account have fees for things like low balances, account maintenance or ATM use? These fees add up. It may be time to switch banks.

Use an app like Mint to monitor your daily spending.

Fancy coffee and lunch runs can cost $20 a day, and when you look at what you spent on a monthly basis, it may encourage you to change your habits.

Look at what you spend on entertainment. Richmond has a plethora of free and low-cost activities you and your family can enjoy without breaking the bank.

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