In recent years, it feels as though the cost of living has skyrocketed. Dreams of holidays and new houses are a thing of the past for many of us, and just getting through to payday can feel like an uphill struggle.
When it comes to budgeting, it can feel as though we can’t squeeze any tighter; that we’ve exhausted all our options. However, it’s often the small expenses that we overlook, and that over time can make a dent in our finances. Here are some everyday items you can cut from your budget that will make a big difference.
Spending money on takeout coffee is something we’re all guilty of. When you’re running late for work, or you fancy a stroll outside of the office, it’s tempting to pick up a Starbucks to satisfy your caffeine cravings, but it spells bad news for your bank balance.
The average cost of a takeout coffee is $2.75. Over the course of the working week, this adds up to almost $14 — that’s $56 a month on coffee alone! It’s far better to buy coffee for at home and invest in a flask that you can take with you, or stick to the office coffee machine.
Cutting down on your travel costs will make a big difference to your budget. If you ride the bus to work, but the distance is walkable, get your trainers on and make it your morning walk instead. If your workplace is not in walking range, you could use a pushbike or ask your colleagues to carpool.
This one might not apply to everyone, but considering the average smoker spends $70 a week on cigarettes, it has to be said: smoking is the single biggest drain on your income, and it has numerous health implications.
If you feel like you can’t quit smoking, it’s time to consider another alternative. E-cigarettes are all the rage at the moment, and they can help you on your way to quitting. You can click here to learn more about the different starter packs and many flavored liquids available.
We all need to put food on the table, but our increasingly busy lives mean that Americans are spending more money on fast foods than ever. Look after your finances as well as your physical health and make a meal plan and budget. Dedicate one day a week to meal planning and shopping, and stick to your plan. You could even use a free day to batch cook meals in advance, so you’ve always got something in the freezer when you’re too tired to cook.
Small Changes Equal Big Savings
When it comes to saving money, it’s the small changes that make the greatest difference. By refining your everyday expenses, you start to accumulate extra money that can be saved for holidays or used for other, more necessary, items. Look out for vouchers and online promotions, as these can also help your money go further.