The biggest fallacy of us, Americans when it comes to spending is the urge to replace old things with new be it a car or a mobile which is in a sufficiently good condition, American consumers will not think twice before thousands of dollars go down the drain.We have been regularly falling behind the credit card payments and paying more amount as late fess which could have been better utilized.When we buy, we are the most impulsive manner ever and it is a reality that impulsive shopping does not allow one to have the right pricing and to make the correct deal.It seems that we have given up on the habits of packing a lunch at home or brew a coffee and are finding it more pleasurable to dine but getting it done from home can save us hundreds of dollars each month.Spending and frequenting the ATM has become parallel with our lifestyle and using one outside the banks network can lead to adding up on surcharges which is again a wastage of cash.Whether it is an occasion to buy grocery, clothes or medicine we are very much brand conscious and are easily attracted to fancy labels even if it means that our finances are typically shaky because of the downturn and they may be thinking of visiting a debtsettlement company or a credit counseling agency.Being more compliant with electronic gadgets has proved to be very expensive to our electricity bills. It is always advisable for the consumer to buy electronic items with energy saving option which can assist them to pull in more money when those gadgets are not working.Smoking and alcohol consumption can cost you a hell lot of money and affects your health and in extreme amounts can pose as a health hazard. Owning more cars than required, paying for unnecessary services are some of the other ways through which money slips from our wallets.Its high time that we are proactive more than ever for spending small amounts can add up to become a big one. But once we are able to identify the spending leaks we would surely make amendments in our budgeting and handling cash and who can tell that the spare cash can be utilized to make an investment or break the vicious cycle of debts.