Feel like you aren’t making any headway with your financial goals? Let’s look at 15 common culprits that could be impacting your finances more than you realize!
Coffee Runs
That daily trip to your favorite coffee shop might seem harmless, but those lattes can quickly add up. If you’re spending $5 a day, just think about how much that adds up to over the course of a year.
Dining Out
Dining out is convenient and a delicious treat. But too many people rely on eating out; even a few dinners a week can take a significant chunk out of your budget.
Subscription Services
It’s time. Cancel those subscription services you aren’t using. You might as well be setting cash on fire if you don’t.
Convenience Fees
ATM and convenience fees happen, but do your best to get cash or pay bills in ways that don’t incur extra charges. We recommend setting up automatic payments with as many platforms as possible.
Grocery Impulse Buys
Grocery shopping can be a minefield for impulse buys. Stick to a shopping list to avoid those tempting extras and keep your grocery bill in check.
Parking Fees
Parking fees are a not-so-hidden expense that people just accept as a part of life with a car. But instead, try alternative options like carpooling or public transit and save yourself some cash.
Late Fees
Missing a payment deadline can result in frustrating late fees. Set reminders on your phone or automate payments to avoid these unnecessary charges.
Bottled Water
Bottled water is an entirely avoidable expense if you buy a refillable water bottle. It’s an investment that will pay for itself in no time.
Gym Memberships
If you’re using your gym membership, you can skip this one. But we know many of your aren’t (we’ve all been there), so don’t let your good intentions flush money down the drain. Cancel it and opt for free workout options to save on the monthly fees.
Petty Cash
Small cash transactions can feel innocuous, even if you aren’t swiping your debit or credit card. Track your spending to see where the holes are and use a budgeting app to keep an eye on those seemingly tiny expenses.
Unnecessary Upgrades
Did you really need a cable package with 1000 channels? Probably not. Pause and reflect before you upgrade and ask yourself if your life would really be that much better with the upgrade.
Household Supplies
From cleaning products to toiletries, household supplies can add up. Look for bulk buying options or coupons to save money on these recurring expenses.
Seasonal Purchases
Many people don’t have separate budgets for holiday or seasonal expenses. We couldn’t recommend it more; it helps prevent you from spending way too much—an easy thing to do if you aren’t paying attention!
Online Shopping
It’s so easy to click “add to cart” when shopping online that it’s borderline frightening. Consider adding a “cool off” period, and don’t buy anything without sleeping on it for 24 hours.
Interest on Small Loans
A small loan seems incredibly beneficial—and it can be, for a moment. But interest is often much more than you bargained for. It’s much better to save up for purchases so you aren’t borrowing as much, especially for non-essentials.
