Many people think building wealth requires complex strategies, but often the biggest opportunities are hiding in plain sight. Whether it’s failing to take advantage of compounding interest early, missing out on passive income streams, or overlooking the power of fractional real estate investments, these are just a few examples of wealth-building tactics that tend to fly under the radar. Here are the most money-wasting habits I have concluded:
1. Overpaying on Auto Insurance
The average American overpays by $400/year on car insurance. But finding a better deal doesn’t have to be complicated. Here’s how you can start saving in less than 1 minute:
- Compare top providers – Instantly access quotes from top insurance companies to find the best rates for your.
- Quick and easy process – Answer a few simple questions about your driving history, and let the tool do the rest.
- Personalized results – Get customized recommendations that match your budget and requirements.
2. Not Investing in Real Estate (Starting at Just $20)
It’s no secret that the wealthy love investing in real estate, but for most of us, owning property has been out of reach—until now.
With innovative platforms like Ark7, you can invest in rental properties for as little as $20 per share.
- Hassle-free management – Ark7 handles everything from property management to rent collection for you.
- Award-winning app – Enjoy a smooth user experience, making your investments easier and more efficient.
- Monthly profits deposited – Your share of the rental income is automatically deposited into your account each month.
It’s a simple way to start building your own rental property portfolio without needing a magnate’s budget. Interested? Check out Ark7’s properties and start investing today.
3. Wasting Time on Unproductive Habits
As a rule of thumb, I’d ignore most sites that claim to pay for surveys, but a few legitimate ones actually offer decent payouts.
I usually use Survey Junkie. You basically just get paid to give your opinions on different products/services, etc. Perfect for multitasking while watching TV!
- Earn $100+ monthly – Complete just three surveys a day to reach $100 per month, or four or more to boost your earnings to $130.
- Millions Paid Out –Survey Junkie members earn over $55,000 daily, with total payouts exceeding $76 million.
- Join 20M+ Members – Be part of a thriving community of over 20 million people earning extra cash through surveys.
With over $1.6 million paid out monthly, Survey Junkie lets you turn spare time into extra cash. Sign up today and start earning from your opinions!
4. Paying off credit card debt on your own
If you have over $10,000 in unsecured debt—such as credit cards or medical bills – a debt relief program could help you lower your total debt by an average of 23%.
- Lower your total debt – National Debt Relief works with creditors to negotiate and settle your debt for less than you owe.
- One affordable monthly payment – Instead of managing multiple bills, consolidate your payments into one simple, structured plan.
- No upfront fees – You only pay once your debt is successfully reduced and settled, ensuring a risk-free way to tackle financial burdens.
Simple as that. You’ll likely end up paying less than you owed and could be debt free in 24-48 months. Here’s a link to National Debt Relief.
5. Overspending on Mortgages
- Compare Competitive Rates – Access top mortgage offers from trusted lenders.
- Personalized results – Get tailored recommendations based on your financial profile.
- Expert resources – Use calculators to estimate monthly payments and long-term savings.
6. Paying Too Much for Repairs
Unexpected repairs can be costly, but Choice Home Warranty offers an affordable solution to keep your home covered.
- Comprehensive home protection – Protect essential systems and appliances like HVAC, plumbing, and electrical.
- Affordable plans – Choose customizable coverage at competitive rates.
- 24/7 claims service – Get fast, hassle-free repairs from a network of trusted technicians.
- Nationwide coverage – Coverage available across the U.S. for peace of mind wherever you live.
Don’t let unexpected repairs drain your finances. Join thousands of homeowners who trust Choice Home Warranty to safeguard their homes. Get a free quote today and see how affordable peace of mind can be!
7. Missing Out on Financial Flexibility
UUnexpected expenses? MoneyLion’s Instacash offers interest-free cash advances up to $500, helping you stay on track financially.
- Access up to $500 instantly – Get funds before payday when you need them most.
- No interest or credit checks – Enjoy hassle-free cash without extra costs or credit impact.
- Flexible repayment options – Automated repayments align with your pay cycle for a stress-free experience.
Stay in control of your finances. Download the MoneyLion app today and access Instacash with confidence!
8. Overspending Without a Plan
Managing finances doesn’t have to be complicated. Acorns makes it easy by rounding up your purchases and investing the spare change automatically.
- Hands-Free Savings – Every purchase is rounded up and invested, helping you grow wealth effortlessly.
- Smart investment options – Choose from diversified portfolios tailored to your goals.
- Automated Contributions – Set up daily, weekly, or monthly deposits for consistent growth.
- Educational insights – Gain expert tips and tools to make smarter money decisions.
Join over 10 million members taking small steps toward big financial growth. Ready to invest in your future? Sign up for Acorns today!
9. Ignoring Home Equity
- Discover top home equity loans and HELOCs – Access competitive rates and terms tailored to your needs.
- Expert tools – Use calculators to estimate equity and project monthly payments.
- Guided decision-making – Get insights to maximize your home’s value while maintaining financial stability.
10. Suffering From Wine Sensitivities
If wine gives you headaches, congestion, or sensitivities, you’re not alone. The Wand by PureWine offers a simple solution.
- Remove wine allergens – Filters out histamines and sulfites, the main culprits behind wine sensitivities, without changing taste or aroma.
- Convenient and portable – Fits in your pocket or purse, perfect for home or dining out.
- Works with all wines – Red, white, rosé, or sparkling—enjoy them all without worry.
- No wasted wine – Savor every sip without unpleasant reactions.
Join thousands who’ve rediscovered wine with The Wand. Ready to sip stress-free? Try it today!
11. Wasting Money on Expensive Banking Fees
Small business owners often waste money on unnecessary banking fees and complicated financial tools. FStop overpaying for banking fees and complicated tools. Found offers an all-in-one solution to manage your business finances—without hidden costs.
- No hidden fees – No monthly fees, overdraft charges, or minimum balance requirements.
- Business banking made simple – Manage invoices, track expenses, and calculate taxes automatically.
- Tax prep and deductions – Stay organized and prepared for tax season with effortless expense tracking.
- Designed for small business owners – Perfect for freelancers, contractors, and small business owners.
Save money and simplify your business finances. Sign up with Found today and take control of your business finances!
12. Missing Out on Smart Investing
- Compare investments – Explore stocks, ETFs, bonds, and more to build a diversified portfolio.
- Tailored insights – Get tailored advice to match your financial goals and risk tolerance.
- Maximize returns – Learn strategies to optimize investments and minimize risks.
13. Wasting Money on Uninformed Stock Market Decisions
Many investors lose money by guessing instead of using data-driven strategies. Stock Market Guides simplifies investing with real-time alerts and expert insights to help you trade with confidence.
- Real-time alerts – Get buy and sell signals based on historical data for stocks and options
- Expert insights – Avoid common mistakes and maximize returns with data-backed analysis.
- Tools for success – Use tools like stop-loss and take-profit calculators to plan smarter trades.
Stop gambling on the market—start making informed decisions. Explore Stock Market Guides today and turn your financial goals into reality!
14. Relying on Expensive Payday Loans
Need quick cash? Skip costly payday loans and borrow up to $500—or get an $800 credit limit—with Possible Finance.
- Fast, Flexible Borrowing – Access funds with repayment plans that fit your budget, no matter your credit history.
- Easy, Transparent Application – Apply in minutes with no hidden fees or high interest rates.
- No late fee, no interest – Avoid payday loan traps with fair, flexible terms.
- Build credit while borrowing – On-time payments are reported to credit bureaus to help improve your score.
Don’t overpay for emergency cash – borrow smarter with Possible Finance. Apply today and get the funds you need quickly and easily! (Service availability may vary by state.)
15. Wasting Money on High-Interest Loans
Stop overpaying on loans due to a low credit score. Kovo makes building credit easy, affordable, and hassle-free.
- Simple monthly payments – Improve your credit with just $10/month for 24 months, reported to all major bureaus.
- Instant approval – No credit check required—start building credit right away.
- Earn rewards – Get up to 1% back on eligible loans and unlock up to $1,225 in rewards.
- Track your progress – Monitor your FICO® Score and see your credit improve monthly.
Take control of your financial future with Kovo. Give yourself the gift of better credit—sign up today!
16. Ignoring Data-Driven Decisions In Investing
Experienced investors rely on in-house tools, but MarketXLS takes productivity to the next level by streamlining market tracking and eliminating manual data entry.
- All-in-One Market Tracking – Monitor 13,500+ stocks, 3,100+ ETFs, options, and coins with real-time data.
- Seamless Excel integration – Manage your portfolio directly in Excel with custom formulas and automated updates.
- Stop manual data entry – Access 50+ templates and analysis tools to save hours of work and create smarter investment strategies.
Stop wasting time on tedious tasks—start making data-driven decisions with MarketXLS. Try it free for 7 days today!
17. Ignoring Commercial Investments
Many investors overlook commercial real estate, assuming it requires substantial capital. But EquityMultiple makes it accessible with a streamlined, professionally managed approach.
- Invest with just $5,000 – Enter the commercial real estate market with a lower investment threshold.
- High potential returns – Invest in carefully vetted projects designed for long-term growth.
- Diversify your portfolio – Access equity, debt, and preferred investments to minimize risk.
Stop missing out on high-return opportunities in commercial real estate. Explore EquityMultiple today and start building your real estate portfolio!
18. Missing Out on Diversifying into a 200-400 Real Estate Loan Portfolio
Many people waste opportunities by not investing in diversified real estate portfolios. Groundfloor’s Flywheel makes it easy to grow your wealth with real estate-backed loans, offering steady returns without the hassle of property ownership.
- Invest with $100 – Gain access to a diversified portfolio of short-term real estate loans, giving you a low-risk entry into real estate investing.
- Predictable returns – Earn steady income from real estate debt with an average loan term of 36 months.
- Hands-off investing – No need to manage properties; Flywheel offers a fully managed investment solution.
Stop missing out on potential returns—start earning with Groundfloor’s Flywheel Portfolio today!
19. Neglecting Estate Planning
Most of us tend to delay estate planning, which can lead to complications for our loved ones. With Trust & Will, creating a legally binding will or trust is simple and affordable, ensuring your assets are protected.
- Affordable estate planning – Start your will for just $159 or a trust for $599, protecting your assets and your family’s future.
- Simple, guided process – Trust & Will simplifies the process with step-by-step guidance, so you can complete your documents easily.
- Legal documents tailored to you – Customize your will or trust to meet your unique needs and state laws.
Start planning today with Trust & Will to ensure your loved ones are protected and your assets are distributed according to your wishes!
Disclaimer:
The information contained in this article is for educational and informational purposes only and is not intended as financial or shopping advice. While the author strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained in this article for any purpose. Any reliance you place on such information is strictly at your own risk.
Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. Advanced, optional add-on bookkeeping software available with a Found Plus subscription. There are no monthly account maintenance fees, but transactional fees for wires, instant transfers, and ATM apply. Read more here: https://found.com/legal/fee_schedule