Do you ever feel like you’re always running out of money? Well, that’s probably due to a few unnoticeable bad money habits that create a draining effect to your finances. You might not have realized it now but there’s a bunch of things you spend on that are killing your budget.
It’s 2017 already and it’s time to get serious with your money-saving and wise-spending goals.
So let’s find out what these 6 money-draining mistakes are…
1. Daily coffee/smoothie or breakfast runs.
I’m sure a lot of you are guilty of this. You may think that it’s okay because it’s cheap and affordable. Well, not if you add it up. You’ll see that it does take a big chunk out of your budget and you can definitely save a lot if you just make your own coffee and breakfast in the morning. One main reason is probably because you are running late. So try to improve your morning habits and not only will you make yourself better but your budget as well.
2. Eating out for lunch every day.
Same thing goes with lunch time. People who work a 9-5 job may be guilty of this. Eating out for lunch every day or too frequently can cause a toll on your budget AND your diet. Just pack your own lunch – it’s healthier and much cheaper!
3. Not comparing prices.
Even though you don’t shop frequently, you can still commit mistakes that can hurt your budget – not comparing prices and not looking for the best deal before making purchases. Whatever you want to shop for, make sure that you check other online sellers and look around for better deals, coupons and discounts. You can even download an app that allows you to compare prices and find the best deal around you.
4. Shipping Fees
Paying for shipping charges isn’t fun and if you love to shop online, shop from retail sites that offer free shipping. However, most retailers have a minimum amount required to qualify for free shipping. Amazon Prime is a great subscription service that offers a lot of perks, including FREE two-day or same-day delivery.
5. Cable TV
You don’t need to spend for 900 + channels. Just cut the cord and keep the high-speed internet. With the internet, you can still watch episodes of your favorite series, as well as movies and YouTube videos, straight from your TV.
6. Paying your bills late.
I know it’s a very easy habit to fall into, especially if you are on a tight budget or a very, very busy person. But you are actually doing more harm than good. Set reminders for yourself to remember due dates or make sure you set aside a percentage of your salary as soon as you receive it, dedicated only for bill payments.