How Starbucks can break your budget
Every so often, you deserve to buy yourself something you want. Whether you are budgeting to help achieve long-term goals, or you are simply trying to get a handle on how much you spend every month, you deserve to have a little fun in your life. A splurge here and there is rarely a problem, but people get into deep trouble when their splurging spirals out of control and completely derails their budget. You’d be surprised how quickly the little things in life add up and make a huge dent in your budget.
Don’t Make it a Habit
It can be easy to fall into a habit of spending, especially when the numbers seem insignificant. For example, if you happen through the drive-thru of your favorite coffee spot every morning, the $4 price tag might not seem like much, but it adds up quickly. If you go through a Starbucks drive-thru every weekday, you can spend between $20-$40 per week, depending on what you order. You are unknowingly spending between $80 and $160 every single month on a luxury item. The numbers add up quickly and can cause your budget to suffer significantly. Instead of making the drive-thru a daily ritual, consider opting for a home brew on the mornings you are heading to work, and make that specialty drink a special Saturday treat.
Skip the Lunch Trap
Back when you were a kid, you probably took your lunch to school every day. Now that you are firmly in adulthood, you might want to splurge and buy your lunch from a deli or café, but financial experts advise against this daily spending practice. Lunch out, even if you are just picking it up and bringing it back to your office, can cost upwards of $10 every single day. At the end of the month, you’ve likely spent at least $200 on lunch items, and that doesn’t even consider higher priced items. You can spend a quarter of what you would out on a lunch item by simply making the same thing at home, in most cases. Opt to bring a bagged lunch, and save that extra money for something else you really want.
Avoid Discount and Daily Deals
Online shopping is another trap for impulse buyers and splurge spenders. The rise of Internet marketing has made it easier than ever for you to find deals. In many cases, you don’t even have to go looking for deals. They are delivered right to your email inbox, but financial experts suggest avoiding these deals at all costs.
Just because something is cheaper than its regular price doesn’t mean you can afford to purchase it. Whether you saw an awesome deal on an iPad or you got an email for a daily deal on a Roomba, these types of purchases can be damaging to a budget. First off, they are generally impulsive in nature. Your mind sees a discount and makes you think you need to act on it. Marketing agencies have spent millions of dollars to better understand how the consumer mind works, and they use it to get you to pull the trigger. You can keep your budget healthy by avoiding these daily deals. Consider unsubscribing to automated email deals, and only search for discounts when your budget allows you to purchase larger ticket items, like iPads and Roombas.
Following these simple tips and tricks will make it easier for you to keep your daily spending in check, and your budget healthy. Remember all of that daily spending can add up quickly.
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