BANGALORE: Do you have a goal to spend less money or to increase your savings? Nearly everyone has spending holes. And as with other kinds of leaks, you may have hardly noticed them. But those small drips can quickly add up to big bucks.

The trick is to find the holes and plug them so you can keep more money in your pocket. That extra cash could be the ticket to finally being able to save, invest, or break your cycle of living from paycheck to paycheck.

Let’s find out where you waste your money or the worst things you waste your money on:

1. New car

Think before you buy a new car. A car is truly a means of transportation to get you from one place to another.  A true fact is that cars lose their value as soon as they leave the factory floor, so even if you buy a new car after two days its resale value will be less. According to Auto experts at Edmunds.com, the moment you drive a brand new car off the lot it loses roughly 11 percent of its value and it continues to depreciate between 15 percent and 25 percent each year for the first five years.  

Buying a brand new car is everyone’s dream but it is always better to go for a second hand car as it will save you from paying installments, EMIs, initial cost and insurance. The only thing you need to do before buying a second hand car is just accompany a driver and check it overall to make sure that it doesn’t need a major repair.