Never seem to have enough money? Does your income seem to disappear into thin air the moment it enters your account? It is not uncommon for people to earn a perfectly good income and not have anything to show for it at the end of the month.
If you’re one of these people, you may be an unsuspecting victim of any or a combination of the following bad habits:
Smoking is not only dangerous for your health, but also bad for your wallet. The daily smoker consumes an average of 17 cigarettes per day according to the US Center for Disease Control. Even if you smoke half a pack of cigarettes daily at $5 a pack, you’ll be spending an average of $1000 per year on cigarettes alone.
There are other costs of cigarette smoking that aren’t so obvious. This includes the cost of health care for diseases resulting from the effects of smoking on your health. Insurance companies also tend to charge higher insurance premiums to smokers since you are a greater risk to insure than a non-smoker.
Buying New Clothes
Do you want to keep up with the Kardashians? You may prefer to keep up with the Joneses. Either way, it costs a lot of money to keep up with the latest trends.
Trends last for a few months and change. If you’re afraid of missing out and always try to have the latest and best of every new product, you’ll find your account drained in no time. Be honest and determine what you can afford. You don’t have to have the latest gadgets or clothes.
If your friends can’t accept this, maybe it’s time to think of finding new friends.
Where do you get your morning fix? If you get it at your local coffee shop, your fancy coffee habit could be draining your account faster than you know.
The average cost of a Starbucks coffee is $2.25 before taxes. If you have your cup of coffee every day for a year on your way to work, you’re spending $11.25 per week on coffee alone. This translates to about $1,157 per year on coffee. There are a lot of things you can do with that money if you decided to make your own cup of coffee at home or at work.
Not Comparing Prices
Are you the type of shopper that jumps to buy when you come across the item you were searching for? If so, you could be missing out on great shopping deals on online stores like DailySale that could save you a lot of money in the long run. Buying from the first store you come across will cost you a lot of money.
Do you eat out more than you prepare your meals? This could be damaging to your pocket as well as your health. Preparing your own meals will help you save money and help to trim your waistline. You can shave off more than $100 per month and several pounds of weight if you prepare healthy meals at home.
These behaviors may seem harmless but the expenses add up. When you realize which bad habits to cut from your life, you will have something to show for your income at the end of the month.