You may be trying to make better financial decisions but find yourself broke after payday. Living paycheck to paycheck can get old.
The real problem is that everyday expenses can quickly eat away at your bank account. Whether it’s eating out too often or small items you buy here and there, there are everyday expenses that can add up quickly.
Eating Out
A drive-thru meal here and there isn’t a big deal, right? That $8 lunch a couple times during the workweek can’t possibly be eating away at your income – can it? It can.
Let’s say you eat out two times a week for lunch and spend $16 a week. That’s over $800 a year. If you eat out with your family a couple more times in the week and spend another $40 a week that’s an additional $2,080! You’re spending almost $3,000 a year on some cheeseburgers.
Groceries
Groceries are a hard thing. We need food to survive. The only problem is that we often buy food that goes to waste. You need to be smart about how much money you spend and how your family uses the food you buy. For example, you want to plan a menu that uses many of the same ingredients. That way, nothing goes to waste.
Entertainment
Entertainment expenses can quickly get out of hand. Yes, it might only be $2 or so to rent a movie from RedBox but renting a few movies each week will add up. Let’s say your family spend $10 a week on movie rentals. That’s $520 a year. If your family switched to Netflix, you could save hundreds of dollars each year.
Small Buys
A candy bar here, a few items at the Dollar Tree there – those small items can add up quickly. In fact, you may be nickel and diming yourself to death. Start tracking every purchase you make so that you become aware of those small buys.
Drinks
Whether it’s bottled water, a daily trip to your favorite coffee place, or all the sugary drinks you buy for the family, drinks can be expensive. Invest in a water filter, make coffee drinks at home, and cut out the sugary drinks.
Gas
Last, but not least, gas can eat up a lot of your income. There are so many ways to save money on gas. You can combine errands, maintain your car to get the best gas mileage, and carpool. Being smarter about gas mileage can save you a lot of money.
If you’re wondering where your money goes each month you need to consider tracking your expenses. It can be eye-opening to see where all your money is going.
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