10 common ways we waste money - and how to stop

We’ve all done it - spent more than we meant to, bought something we didn’t really need or let an unused subscription roll on. But those little habits can quietly drain our bank accounts and prevent us from reaching our financial goals.

Here are 10 of the most common ways people waste money - and some simple switches to help you take back control.

1. Unused subscriptions

Streaming platforms, fitness apps, magazine trials… if you're not using them regularly, they're just money down the drain.

Fix it: Review your direct debits every few months and cancel anything you don’t use. You can always sign up again later.

2. Letting food go to waste

When you throw away food that’s gone off, you might as well be emptying your wallet into the bin. The UK wastes around £14bn worth of food every year – that’s £470 per household.

Fix it: Meal plan, shop with a list, and freeze leftovers. Apps like Too Good To Go and Olio can also help you save food and money.

3. Paying for convenience

Think takeaway coffee, pre-chopped fruit or lunch on the go. It adds up faster than you think.

Fix it: Prep meals and snacks at home when you can. Even switching just a few days a week makes a difference.

4. Not shopping around

From insurance to your weekly shop, sticking with the same provider or store out of habit could mean you’re overpaying.

Fix it: Use comparison sites, look for vouchers and don’t be afraid to haggle - especially when renewing services.

5. Impulse buying

See it, want it, buy it? We've all been there, but the buzz provided by these spur-of-the-moment purchases can quickly turn to regret.

Fix it: Try a 24-hour rule before you buy non-essentials. Often, the urge passes.

6. Minimum credit card payments

Paying the minimum might feel manageable now, but it means you’ll be in debt for longer - and pay more in interest.

Fix it: Pay as much as you can afford, and look at reducing your debt as much as possible. Less debt means less money wasted on interest charges. And remember, if your debt is becoming unmanageable, we can help with that.

7. Not claiming what you’re entitled to

Billions in benefits go unclaimed each year in the UK. You might be missing out without even knowing it.

Fix it: Use our free benefits checker to make sure you’re not leaving money on the table.

8. Not using loyalty schemes

Points, cashback, discounts - loyalty cards can be a great way to stretch your budget.

Fix it: If you regularly shop somewhere, check if they offer a reward scheme or app - and use it.

9. Auto-renewing without checking the price

Some companies rely on people not bothering to shop around. That ‘convenience’ could cost you hundreds a year.

Fix it: Make a note of renewal dates and do a quick price check before agreeing to anything.

10. Letting little fees add up

ATM fees, late payment charges, delivery costs - these small amounts quickly build up.

Fix it: Look for fee-free ATMs, set up reminders for bills and consider free delivery thresholds when shopping online.

Small changes, big results

We’re all going to waste money from time to time, but when it becomes a habit, it can really start hurting your wallet. Being aware of these money drains can help you make smarter decisions and keep your unintentional spending in check.