How to Create a "Money Leaks" Checklist
Money leaks are expenses that drain your budget slowly, often without you noticing. Here’s how to build a checklist to find and fix them.
What Are Money Leaks?
Money leaks are small, recurring, or habitual expenses that individually seem minor but collectively cost you hundreds or thousands per year.
Building Your Checklist
Category 1: Subscriptions
- Streaming services I barely watch
- Apps I don’t use anymore
- Premium tiers I could downgrade
- Free trials that converted to paid
Category 2: Daily Habits
- Daily coffee runs
- Convenience store purchases
- Delivery app fees and tips
- Impulse online purchases
Category 3: Banking & Fees
- Monthly bank fees
- ATM fees
- Late payment fees
- Interest charges on credit cards
Category 4: Bills & Services
- Overpaying for phone plan
- Internet speed I don’t need
- Insurance I haven’t compared in years
- Extended warranties I forgot about
Category 5: Food & Shopping
- Grocery waste (food thrown away)
- Dining out more than planned
- Buying duplicates of things I already have
- Sale purchases I don’t need
How to Use Your Checklist
- Go through it monthly
- Highlight anything you find
- Take action on at least 3 items
- Track how much you save
The Impact
Most people find $100–$300/month in money leaks during their first audit. That’s $1,200–$3,600 per year.