We all have these habits. You know the ones I’m talking about. The ones we do without thinking. The ones we do every day. Every week. All year.
I’m willing to guess that if you scrutinized your monthly statement and added up all these “small behaviors”, you’d be surprised how much money you’re throwing away.
Now, am I saying that you should never do these things? EVER? No. Of course, we want a Starbucks occasionally. But if your daily need for a Venti Carmel Macchiato, is getting in the way of getting out of debt, you should re-think.
- Coffee– I get it. You can’t live without it. You’re a nightmare. You’ll literally fall asleep at your desk by 8:17. You can’t function. But I’m not asking you too. Maybe just rearrange your habits. According to reports, the average person spends, $1,100 a year on Starbucks. That’s $3/day. $1,100???? That could pay off a credit card. That’s a nice vacation to Hawaii. So what’s the alternative. Make some coffee at home. Spend some money on fancy syrups, creamer. Whatever you need to make it taste as sugary sweet as you need. But stop going out for coffee, you’re wasting your money. Make it a treat, not a daily occurrence.
- Smoking– While the average smoker spends between $70-$280 a week, if you’re smoking multiple packs a day, you’re going to end up spending anywhere from $1000-$2800 a year! That’s a ton of money!! That could pay off your car. Pay down that school loan. And let’s not forget how horrible it is for your health. Now, I’m not saying you should stop cold turkey. You’re friends, family, and co-workers probably don’t want to be around for that either!. But there are solutions. Try tapering over a month, or the nicotine patch. Visit your doctor and get a prescription to Chantix, or even try something like a cigarette cessation services. And if you’re really adventurous, try some smoking hypnosis. My point is, try something. Because even if you can’t seem to quit, if you taper down, you’re automatically saving money.
- Limit/Stop Alcohol– Now I’m not a big drinker, like only occasionally, and usually just socially. But I realize that many of you like a nightly cocktail or some Mommy juice. But the truth is alcohol is expensive. There are two ways to attempt to change this. If you’re a social drinker, that goes out to drink, simply stop purchases/taper your purchases of alcohol. If you like to drink at home, simply stop/taper your at home drinking. While there isn’t much to support the positive effects of alcohol on our bodies, there’s plenty that suggests, it’s quite hard on our bodies. And don’t get me started on all those extra calories. So my point is, you’ve got two choices. Either stop completely or taper down some. Either solution will save you money and that’s the objective.
- Carpool– I love to carpool. Why? Cuz when it’s not my turn to drive, it’s like I’ve got a chauffeur! Seriously though, carpool is a great way to lessen expenses. Spend less on gas. Spend less on car repair. And truthfully, if you live and work in a city, you can almost always do away with a car altogether! Imagine the savings!!
- Bring your lunch to work– This is undoubtedly the hardest for most people. But truthfully I’ve grown up this way. As an adult, I’m like phobic about wasting food. Maybe part of my Irish heritage?? Money spent eating out can be upwards of $3000 a year! Yikes, that’s a ton of cash! I’m not advocating making and eating every meal, every day. But some preparation can go a long way to saving money. Don’t be afraid to plan and cook most of your meals on a Sunday. Take your left-overs daily if they’re available. And cost-cut groceries by buying in bulk and buying on sale. And yes, you too can eat leftovers, they won’t kill you!
We can all agree that change is hard, but anything good is worth working for. And being debt free is definitely worth it! Remember debt free, is a free life. Start small, make 1 or 2 changes a month and see where it gets you. It’s hard, it’s frustrating, but think where you’re gonna be in a year or two? Think where that money can go? Paying off school loans, an extra mortgage payment, putting into your emergency fund. Or gadzooks, a vacation fund!!!
