When it comes to being financially savvy, it’s easy to overlook some of the everyday things draining our wallets.

While certain expenses like splurging on clothes may be obvious, there are plenty of unnecessary everyday expenses eating into your budget.

According to Business Insider, purchasing lottery tickets is a prime example of an expense that offers little return. Regularly buying lottery tickets can rack up costs exceeding $700 annually, and that’s on the conservative side. Apart from lotteries, gambling poses a significant financial threat. Although gambling may not have the immediate health risks of habits like smoking and drinking, it can drain your finances depending on your betting preferences. To rein in gambling expenses, it’s wise to establish a fixed budget for losses or consider quitting the habit altogether.

For residents in cities like New York, a pack-a-day smoker could burn through over $5,000 per year on cigarettes alone. This figure doesn’t even factor in the potential healthcare costs that accompany smoking, which can further inflate the long-term expenses. Unfortunately, quitting smoking is notoriously challenging, earning its title as one of the toughest habits to kick. The most sustainable way to save on smoking costs is by breaking the habit. Strategies for quitting include going cold turkey (though this is often ineffective), exploring nicotine replacement therapy, trying medication, or seeking cognitive behavioral therapy.

Despite Amazon’s dominance in online shopping, there are still cost-effective ways to access many products available on the platform. Local public libraries frequently offer books, DVDs, and reference materials at no charge, providing a wallet-friendly alternative to online purchases.