Are you sure that you don’t have money slipping through your fingers, possibly leaving you in the lurch financially before time? It is especially devastating if you are trying to control your budget only to wonder where the money has gone to… Probably it is small expenses that you generally don’t take into account pile up to an enormous amount? Let’s check out your routine habits to see whether you drop too much money along the way.
1. The Habit of Grabbing Coffee Regularly
You believe that you won’t wake up properly until you have downed a cup of coffee? OK, we do need a pep-up drink, but is it really worth your while to grab it unthinkingly every time on your way somewhere? Your $4 latte can end up in over $80 a month, if this sum can be felt, why not buy a travel mug and make do with coffee bags?
2. The Habit of Taking a Packed Lunch Along
Of course morning is rather a hurried time of day, but if you are intent on saving some bucks, a packed lunch is the thing to do. Really in a hurry? Why not prepare it the night before and keep in in the fridge to be picked up before leaving? This way you will be saving about $10 daily that you will dish out lunching with your colleagues; just accompany them to a café from time to time is enough for keeping company, but do it every time and your expenses will grow significantly.
3. The Habit of Making out a Shopping List
Grocery lists are definitely a bore, having to sit down and concentrate, probably for quite a while. What we all do is rush to the store and buy whatever captures your fancy. While the eye wanders, chances are you will get foods that you don’t really need which you will just forget they exist in your fridge later. It’s good if you managed to buy what you wanted! All this can easily be solved by making out a list.
4. The Habit of Taking Purchase Cues from Friends
You have a lot of friends, and if you catch yourself wanting the thing that you just saw one of them wear, you can splash away your money in no time at all. Do you really need the clothes even if you admire them on other people? The temptation is there, but you will have to ask yourself some questions. Following trends is a costly pleasure.
5. The Habit of Having Much Money on You
When you walk into a store, too much depends on the amount of money you have. If your purse is stuffed with bank notes and credit cards, you may well let yourself go. The idea is to carry only what you actually need plus a little more. If you know that you cannot check yourself ordering, mind that you keep your cards at home except one for emergencies, and then choose the one where the credit limit is not too high.
6. The Habit of Making Use of Coupons
You can save quite a sum by clipping coupons, but you should better keep tabs on them, because you can fall into the habit of buying stuff whenever you have got a coupon. It is bound to undermine your budget while you believe you are being practical. It may especially apply to retail stores that look an attractive proposition or restaurant coupons which will tempt you to dine out more often that you can afford.
7. The Lending Habit
While letting the lives of your friends and family members easier by lending them a few dollars, be careful that they don’t sponge on you. They are expected to return the debt or treat you the next time around, so don’t let your budget be overly endangered by misplaced assistance. So, lend wisely!
After you have scored these points off, run your mind over all your spending habits to see whether you slip in other situations, and mind you keep your money for your real needs and not just burn them.