Ways You Can End Up Burning Dollars To Save A Dime

Sneaky and dangerously persuasive marketing tactics continue to evolve. You’re not alone if you’ve at one point or another fallen prey to something like a last-minute flight deal that hardly saved you any money in the process. Yes, we’re looking at you, any and all flight deals to Vegas. There are numerous ways you can end up tripping over your hard-earned dollars during your pursuit to save as much money as possible. We’ll take a look at the traps you should always keep a wary eye out for.

1. Hiring an inexperienced contractor to fix your roof.

Close-up image of roof shingles.

Some folks have had situations arise where they know someone in their social circle who is an “up and coming” handyman, and thus wanted to give them some work to get them started. This can backfire in a terrible way though. If you hire a buddy who is in no way a professional contractor to fix your roof, you are in for a potentially nightmarish time. The average roof repair cost can range anywhere between $400-$2,000. It could very well be worth it to just shell that over the one time, instead of doing a take-two the next time a rainstorm puts your roof to the test.

2. Driving around for the cheapest deal on gas.

Image of a gas station.

This one really speaks for itself. Can we understand why one might feel compelled to hit the road and refuse to fuel up until they’ve found the best possible deal on gas? Sure. But there’s a fine line between being strategic with this and then just being financially reckless. Don’t make a habit of taking road trips because you can’t settle on which gas station deserves your car’s business.

3. Burning candles overnight to cut down the electric bill.

An image of someone holding their hand over a burning candle.

In this case, you’re literally potentially burning a ton of your money. That is if you end up in a nightmarish scenario where you woke up sometime after a fire started to burn. Candles and their multitude of pleasant and calming aromas are all well and good, but try to avoid letting them flame on overnight. Far too risky of an endeavor.

4. Misunderstanding progressive tax system, and refusing a raise as a result.

An image of a black coffee mug placed by a tax withholding document.

Far too many folks have been led to believe that a raise is in no way going to be a hinderance to them. If you go up to the next tax bracket, only a portion of your income that exceeds the previous tax bracket will be taxed at a higher rate.

5. Trading in a fully paid off car because it needs repairs, and then buying a used car with more monthly payments.

An image of numerous BMWs in a car lot.

It’s like you already put all of that hard work in. You went and did the dang thing. To own a car, and let alone be able to pay it off is an impressive feat in this pricey day and age. Whatever you do, don’t backpedal and throw yourself into a newfound cycle of having to juggle multiple payments. Instead, see what you can accomplish in the way of shopping your needed car repairs around your area to hunt down the most agreeable price.

About Author