Five luxuries you probably don't need

Which seemingly harmless treat could set you back more than £17,000? We reveal five little luxuries that could cost you a fortune.

Of course, we all need the occasional treat – even if money is tight. Although luxuries may not themselves be a waste of money, the problem is that many of us routinely pay for luxuries we rarely use.

We’ve rounded up some examples.

1. Weekly takeaways

During their lifetime, the average Brit consumes 2,453 takeaways, according to research from the Benenden Healthcare Society.

Shockingly, one in 20 of those surveyed admits to indulging in a takeaway three times a week.

While such habits clearly aren’t good for the nation’s health, the consequences for our finances could also be pretty unappetising. According to the data, this takeaway addiction costs an average £17,250 per person.

We’re not suggesting cutting out takeaways altogether – though perhaps save them for an occasional treat.

2. Hundreds of TV channels

Be honest, do you watch the sports channel and do you really sit through enough films to justify having movie channels in your TV package?

If not, consider switching to a deal that only contains the channels you need or opting for Freeview instead. Bear in mind, however, you could face expensive ‘termination’ fees if you leave a contract early so read the fine print carefully before calling to cancel.

Most TV networks now offer online services, such as BBC iPlayer or 4oD. As well as recent episodes of current programmes, you may also be able to watch older episodes of popular series.

3. Magazine subscriptions

Subscribing to one or more magazines might seem like a minor indulgence – say each publication costs around three pounds.

However, these expenses soon add up over the course of a year and are especially wasteful if you only spend five minutes skimming through the magazine.

Remember, plenty of publications (both newspapers and magazines) put a great deal of their content online for free.

4. Unused gym membership

If you’re a member of a gym but never go, you’re simply wasting your hard-earned cash. With some gyms charging around £70 per month, you may be able to make significant savings by cancelling your membership.

Again, remember to check for any penalties before cancelling – many gyms will tie you in for at least a year when you join. It might therefore be more prudent to ask yourself how often you would actually attend before signing on the dotted line.

5. Unlimited calls and texts

A massive three quarters of us overpay on our mobile phone bills by £200 per year, according to comparison site billmonitor.

The next time your contract is up for renewal, it could be a good idea to dig out recent bills to figure out exactly how many calls and texts you use a month.

Once you have this information, there are a number of comparison sites that could help you find a competitive tariff based on your actual usage.

**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**

van insurance no deposit 7 day van insurance quinn van insurance multiple van insurance cheap van insurance for under 25