Financial Vampires #2

Have you seen vampires lurking in the night?

The image of a bloodthirsty creature that shuns sunlight and drains the life force from its victims probably came to mind.

Thankfully, these vampires are entirely fictional, so there’s no real threat. However, there’s another type of vampire that is very real – and it’ll sink its teeth into your funds.

We’re talking about the financial vampire.

What is a financial vampire? The term refers to an individual or habit that gradually drains your financial resources.

One such creature is called the forgotten vampire.

This one represents paying for memberships and subscriptions you don’t use. This could be a non-committal subscription box that you’re sure you can cancel at any time. Or a “sign up now and get a bonus 3 months free!” streaming service. There’s nothing wrong with a subscription, but these “deals” can easily become deadweight when services go unused or forgotten. Payments continue as the costs fade into the background.

Financial vampires come in many forms, and recognizing them can help you transform your spending habits. Reviewing your expenses regularly, tracking your spending, and keeping any unnecessary spending in check can help you stay on budget…and ward off vampires better than even the holiest of water. 

Happy Halloween!