Happy Monday Friends,
Before I started the Purposeful Living blog series, I didn’t plan on touching on finances. But then…I thought about how much unnecessary spending I do. If I didn’t buy unnecessary stuff, my emergency fund would be loaded!
I found a No Buy challenge online and my curiosity grew! The No Buy challenge ties into Purposeful Mondays! You spend money on the essentials, not on things you don’t need. Spend your money on the necessary, not the unnecessary fluff! Use your money with purpose.
Table of Contents
My unnecessary spending habits
How cool would it be to be able to spend your money on things you need instead of frivolous items you don’t need. If you spent money on the essentials, would you feel better about your finances?
It wasn’t until I tracked my own spending habits I realized how many sneaky things were eating my wallet! To my surprise, I was spending money on items I bought often but never used. Imagine the shock and disappointment I felt when I found out where my money went. Y’all, I got financial goals that I am trying to reach! How can I reach my financial goals if I am spending more than I am saving!
Today’s post is personal. We are digging into our finances. Finding out why we don’t have enough money and are hesitant about our financial future.
Oftentimes, we think we have to make drastic changes to our spending habits to stop the financial chaos. But the truth is, what is gobbling your money up are the small things that love to sneak up on you. These small things make up the dents in your wallet! Below, I have listed 5 sneaky things that are eating at your cash flow.
Sneaky things #1 Pricey Condiments
Oh dear, I am a salsa and hummus lover. The problem with this is, I can make salsa better than store-bought, but I’m lazy. I buy many containers of humus that I don’t finish. Last night, I threw away 5 jars of spoiled salsa and 2 containers of unfinished spoiled humus. These two condiments are my biggest offenders. Yet, there are more condiments I fawn over. I love Asian condiments, salad dressings, aioli, mustard, bruschetta, olive spread, and sauces. And I don’t think I ever finished a bottle of anything.
Sneaky things #2 Toll Roads
Toll Roads may decrease your travel time, but it comes at a price! A one-way trip on the toll road may cost about $1.25, cheap right? Okay, sure. If you were to travel on the toll road twice a day for a month you would spend about $40-$45 dollars a month! If you miss a payment then late fees can run you thirty extra dollars. A friend from college told me she owed $300.00 dollars in tolls and toll-road fees! Sometimes when you travel you may need the toll-road, but you don’t need it for local travel.
Sneaky things #3 Hidden Fees
Whatever you agree to, read the fine print! Hidden fees are like cockroaches, they only come out in the dark (when you are not looking!) Hidden fees are in your hotel booking, gym membership, flight/travel plans, and cable and internet subscriptions. Ask the company and ask to see if you can eliminate hidden fees.
Sneaky thing #4 Entertainment Food
We need food to survive, but do we need half-off Sushi just because it is Thursday? Americans spend 50 percent of their budget on food! Grocery bills run a hefty price and so does eating out on your lunch break and on the weekends. I spend too much on food and most of the time you know what is going into your food when you make it yourself.
Sneaky things #5 Bottle drinks
I love kombucha, but kombucha doesn’t love my wallet. There are so many available cold drinks out there besides beer and bottle water. There is cold brew, vegan protein shakes, sparkling water, kombucha, collagen water, alkaline water, and cold-pressed juices. These bottle drinks can run up to $14.00! And these bottle drinks contain empty calories and a large number of sugars.
Sneaky Things Honorable Mention:
– Home Décor
Some of the ‘sneaky items’ I listed may be items you need. We are all different and have different needs. Don’t feel guilty about your spending habits, feel good that you can change them!