They say the definition of insanity is doing the same things over and over again, expecting different results. Well, when it comes to money matters–I think we are all a bit insane. My insanity derives from my daily caffeine intake that accounts to $2.00 p/day, 7 days a week, $56 p/mth, which equates to a ghastly $672 per/yr—that’s Madness! When you add up all the miniscule items we purchase during our daily routine, the average person can save hundreds of dollars per year. For example, I have a friend that cooks almost everyday and brings lunch to work “because it saves me money.” As for me, I have quenched my addiction with a $ 40.00 coffee machine.
Small savings can go a long way in helping to keep more money in your bank account. Here are a few tips on how to stop the insanity and save some dough!
1. Stop swiping that card. Many of us have debit cards, which is a wonderful asset but it can cause strife with your funds. The ease at which we can swipe and go unfortunately makes us spend more and keep less track of the money in our account. Therefore opt to take out certain about of money from the bank.
2. Give yourself a weekly or monthly budget. Set a certain amount of expenditure for the week and don’t go over it
3. Eat out less—Cook more. You will be amazed how much money you save on buying lunch and dinner everyday from one trip to the grocery store.
4. A company-offered 401(k) with matching — meaning for every dollar you put in, your company adds 50 cents or even another dollar. This is a great option if it’s available to you—Join!!
5. Curb your spending wants and save instead. We all make spontaneous purchases but do you really need that $1,000 Gucci bag if you have a bigger goal in mind. Afterall Gucci isn’t going anywhere.