When you make a small purchase, you don’t think about how it will affect your bank account. In the grand scheme of things, it will barely put a dent into your savings in comparison to monthly essentials. You don’t worry about a few dollars disappearing from your pocket because you’re too busy thinking about the cost of rent taking most of your paycheck away.
The problem is that little purchases can add up over time, especially when you’re not paying them any attention. Here is a quick list of things that you probably buy on a regular basis that are whittling down your budget right under your nose.
Buying A Coffee To-Go
You have to start your day with a hot coffee, so you drop by the nearest café and get a cup before you walk into work. After a few hours, you start to feel your energy dip, so you go out to grab another caffeinated pick-me-up. If you’re feeling particularly tired, you’ll order yet another drink to get you through an afternoon lull. For the dedicated coffee-lover, this is a description of an average workday.
This spending habit seems harmless until you tally all of the cups. Daily Infographic proved the real cost of coffee by calculating how much people actually spend when they order a single cup from a popular franchise every day of the year. A tall drip coffee from Starbucks will cost less than two dollars at the register but will rack up around a $675per year if you buy it every day. If you buy more than one cup a day or prefer the more expensive options on the menu, the tally will be even higher.
You can cut down this daily cost by making your own. Brew a fresh cup at home and bring it to work in a to-go container or use the coffee machine at your office. One writer at Food 52 made coffee at home for 72 days straight and calculated that she only spent $25 on beans and $20 on creamer to have hot cups for her and her guests. The savings will be even greater for people who like to drink their coffee black.
Grabbing A Pack Of Cigarettes
Smoking isn’t just an addiction that will take a toll on your health, it takes a hefty toll on your bank account, too. The cost of smoking depends on how many cigarettes you go through in single a day and whether you share the contents of your pack with anyone else. The average price of a pack of cigarettes is $6.28, which means a pack-a-day habit will cost a smoker $2,256 per year.
The best way to save money is to try to quit. Dropping the habit can also save you from medical expenses in the future. It’s a known fact that smoking causing cancer, as well as a variety of other medical issues. Treatment is expensive. Meanwhile, these diseases may be fatal.
You walk into the grocery store with a rumbling stomach and little time to waste, so you quickly shove a bunch items into a basket and head to the cash register. A large percentage of these random groceries are more likely to end up in the trash than on your dinner plate.
A blog like MoneyKey has an extensive guide on how to save money when buying your groceries to help people cut down their food costs and reduce their levels of food waste. One of their great suggestions for you is to never go shopping when you’re hungry because your stomach will sabotage the experience. If you’re planning a trip to the store, make sure you eat something beforehand.
Here are some other tips that will help you shrink your spending on groceries:
• Plan meals ahead of time so you know what ingredients to buy
• Always make a grocery list so that you only get the items you need
• Bring a calculator to the store to help you stay on budget
This website has lots of practical advice for building a reliable budget and saving money on a regular basis. They are also available as an immediate solution for anyone dealing with a small financial emergency. They offer fast payday loans for people to tackle those emergencies right away. If you’re interested in an online loan, you should visit their website for more information. You may be eligible for a payday loan or installment loan depending on where you live.
Never underestimate the little payments, because their costs will quickly add up. It feels like a single cup of coffee or a batch of last-minute groceries, but in reality, you’re continuing a pattern of bad spending habits and whittling down the contents of your bank account.