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Five Things You Spend Too Much Money On

Are you looking to cut some unwanted spending from your budget? There are many small purchases that you make almost daily that can add up to big money. We often don't put much thought into some purchases that seem necessary and normal. But by cutting some of these things out of your spending, you can save a lot of money. This money can be used to pay bills, pay down debt, or establish an all-important emergency fund.

Big Expense 1: Coffee

Many people purchase coffee every day before work. It may seem like this is a necessity in order to get yourself throughout the work day. If you pay $4 for a coffee five days per week, you are spending $20 a week on coffee. This adds up to $1,040 a year! It can be more cost efficient to make your coffee at home, and take it to work in a travel mug.

Big Expense 2: Lunch

Stepping out for lunch can be a great way to leave the office and escape the stress of work for a bit. It can also be fun to try different foods. But you wallet will suffer if you purchase lunch every work day. If you spend $10 a day on lunch, you are throwing away $50 per week. This will add up to $2,600 a year! Think about packing a lunch instead. If you still enjoy leaving the office and having lunch with coworkers or friends, pack four days per week and buy lunch on Fridays. This can be a great end of the week treat, and you’ll still see the savings add up.

Big Expense 3: Cigarettes

Do you smoke? Not only is smoking unhealthy, it also is an extremely expensive habit. If you smoke a pack a day, at $5 a pack, you will spend $35 a week on cigarettes. This adds up to $1,820 a year! This is one thing you should really consider cutting out of your budget. Many people find that putting their cigarette money in a jar helps them quit, as they can literally see the money pile up. Once a month, put the money in the bank and use it to pay down debt or add a nice cushion to your savings account.

Big Expense 4: Delivery

It can be fun to order pizza for a family dinner night. While pizza is yummy, it can also be costly. If you spend $25 a week on pizza delivery, it will add up to $$1,300 a year! Consider making a pizza instead. Use the savings to take a family trip, pay down family debt or add to your kids’ college funds.

Big Expense 5: Time on the Links

This can be a fun recreational activity, but it is very expensive. A single golf outing can cost around $75. Do this once a week and it adds up to $3,900 a year. Consider making this a special occasion activity, only.

By taking a look at some of things you purchase, you can help to cut out unnecessary costs. You can still have fun and save money.

If you need help working out a budget, spending plan, or debt management plan, contact Advantage CCS today. Our counselors can help you find your way back to financial freedom.