15 of the Most Common Money Wasters

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Despite most people’s efforts to avoid debt and exceed their budget, it can be easy to overspend. Many common money wasters, however, lurk in the shadows, waiting to steal your money. So, let’s bring these money wasters into the light so that you banish them for good.

Don’t be discouraged if you check every box on this list. After all,  the average American wastes approximately $18,000 per year. In any case, it’s an opportunity to take stock of your expenses and identify where you may be wasting money.

1. Bank Fees

In the long run, even small fees, such as those for withdrawals from out-of-network ATMs or service charges for keeping a checking account, can add up. In fact, according to a Bankrate survey, non-interest checking accounts, excluding free checking accounts, had an average monthly fee of just over $5. What’s more, interest-bearing checking accounts had a fee of more than $16 for those who did not qualify for a waiver.