Do you ever wonder why your bank account seems to be lower than you’d expect? If you’re not spending money on big purchases, eating out, or going on vacation, then your money could be going on a few common bad habits. Here are some of the most common habits that need to do if you’re trying to save money.
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Buying Coffee
Lots of us have a takeaway coffee habit. Spending a few dollars on a coffee on your way to work might not seem like an expensive habit, but the costs soon add up. If you buy a to-go cup and a french press to make your own to-go coffee at home, you could save a lot of money over a year.
Smoking
Smoking is an expensive habit. Cigarettes themselves cost a lot to buy, but the impact on your health is expensive too. As a smoker, you’ll have much higher premiums on your health and life insurance and may have to spend more on health too, due to smoking-related illnesses. If you can, give up. If you’re struggling to quit, there are lots of ways to get help, whether through patches, hypnosis, or switching to vapes with a cartridge ccell.
Skipping The Gym
Whether you belong to an affordable neighborhood gym or an expensive fitness boutique, you’re wasting money when you skip the gym in favor of sitting at home instead. The average gym membership isn’t cheap, and if you’re underusing it, it can be a money pit.
Using The ATM
It’s always useful to have extra cash in your wallet, spending money to withdraw money at ATMs will soon add up. The average fee to withdrawn money from an ATM that is not from your bank is over $4. Every time you withdraw money, that will soon add up, costing you a lot of money over time.
Drinking
The average American spends around 1% of their income on alcohol. That doesn’t sound like much until you consider that for every $100 you have, you spend $1 of it on alcohol. If you drink regularly, this will add up a lot over the year. Restaurants and bars are expensive places to buy alcohol, but even buying a bottle of wine to drink at home every weekend can turn into hundreds of dollars spent throughout the year.
Going Out For Lunch
Eating out for lunch instead of eating at home, or preparing a packed lunch to take to work with you is an expensive habit. A lot of people who work in offices buy lunch every day, which of course, adds up to a lot of money over the working year. Instead, try to make your own lunch, and you’ll be able to save a lot.
If your money disappears faster than you’d like, take a look at the small amount of money that you spend every day and add up what that costs you in a week, month, and year. You’ll find where it is that you money goes!
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