Lives and Livelihoods

1. Morning Java Run

If you make a coffee run every morning and think that the five bucks you spend during the work week for a venti coffee and scone aren’t putting a dent in your pocket, think again. That’s $25 a week or an extra $100 a month you could be putting towards you savings or to pay off a bill. It may seem like an innocent addiction—but add up the costs. You would do better having a coffee at work or making your own at home. Trade the scone for a breakfast bar bought in bulk at the grocery store; it’s lighter on your wallet and your waistline.

2. Constant Trips to the Store

This habit can really wreak havoc on your pocketbook because every time you run to the store you might pick up extra things you don’t need and before you know it, you’ve spent fifty dollars! In order to avoid this pitfall, try to stock up on necessities once a week and also try to limit the amount of stores that you shop at. Shopping in bulk will also help prevent you from constantly running to the store. Try to stock up on all of your essentials in one trip. For example, many grocery stores have several aisles devoted to toiletries, medicine, cosmetics, and household cleaners.

3. Bad Habits

Tallying how much you spend on cigarettes, shopping, alcoholic beverages, candy, soda, or any other bad habits can help you to break them. You may think you are only spending five dollars a day on cigarettes, but if you looked at the entire picture, you would see that you are actually spending almost $2000 per year. That’s a large chunk of money that could be used for a nice vacation, saved for retirement, used to help pay off your mortgage or save for a house! Figure out what your bad habit is and break it. In addition to living a healthier lifestyle, you could save a bundle! Plus, find out how much you have been spending and put that money in a separate account for something fabulous.

4. Money Traps and Saboteurs

Money traps are those places that beckon you to spend money every time you go there—your personal weaknesses. For some people its clothing stores, for others its bookstores, home stores, or department stores. Everyone knows their personal weakness. For most people it is a good idea to stay away from the mall entirely. It is not a coincidence that most of the money spent is during the holiday season. While shopping for others, many people also load up on things for themselves because they can’t resist the temptation. In general, you should go to the store if absolutely necessary, do not bring any credit cards, and set up a budget for yourself beforehand. This will help you greatly. During the holidays you can order your presents online to cut down on any spendthrift urges that may grab you while you are shopping at the actual store.

Resources:

Sell my house fast