5 Things you can’t do if you want to save money
The word can’t has crept into my vocabulary. It’s a dreaded word, and makes me feel like a Negative Nelly. I never wanted to be a naysayer. Regardless, I suspect its inclusion in my vocabulary has been long overdue and my finances have suffered from it.
It’s a hard thing to grapple with but eventually we have to come to terms with the fact that something has to give. On my current income, I can’t have financial security and a Manolo Blahnik habit. While saving money isn’t about living a life of monkish frugality, there are a few things that are impossible to sustain if you’re serious about getting financially in shape.
Here’s what you can’t do.
Smoke
Sorry folks, I hate the holier-than-thou losers too. I hate this modern world curse of everything you enjoy being taken away from you. Once I eliminate smoking, late-night McDonalds and my Tuesday night pub night escapades, it does seem like quite a bare existence. But smoking is the kind of habit you just can’t afford. A pack a day habit costs you about $100 a week. That’s $5,000 a year. In other words, it’s money I don’t have.
Be laissez-faire about meals
The two major killers for a savings plan- buying items that don’t figure on your shopping list, or not organizing dinner and stopping by Maccas instead. These things happen. But they can’t be the status quo or else all your savings money will disappear faster than Berlusconi at a birthday party. It’s a simple fix as well. Plan your meals, write a shopping list and buy only what’s on the list. You don’t need three kinds of dishwashing liquid, or four kinds of yogurt just in case you feel like Greek as opposed to natural. This goes for making lunch at home as well. A bit of organisation can save a lot of future financial pain.
Have a vending machine addiction
They’re only a couple of dollars and that afternoon burst of jelly beans/ chocolate/ potato chips is just so important to you. It’s the ritial of the experience that’s hard to give up. It’s all about deciding which one you’re going to have, the long walk from office cubicle to the vending machine., and whether or not the cutie from office 546 might walk down the hall at the time. Believe it or not, you can just go for a walk without having to buy something. Just pop out of the office for 5 minutes, walk around the block. And ask 546 lady out. After all, love is free.
Accumulate credit card interest
It’ll suck you in and destroy your soul if you let it. Pay off your credit card every month if you can, rethink your approach to credit if you can’t. Cash advances are the financial equivalent of Satan. Don’t go there.
Be complacent about where the money goes
It seems obvious, but if you’re not keeping track of where you’re spending your money, then you will run into trouble. Financial gurus suggest your financial breakdown should resemble this: 20% to savings, 50% to needs and the remaining 30% to fun. If it’s not falling generally into that category, have a rethink of where your money is heading.
What habits have you kicked in order to save money?
We want to hear your top 3 habits you kicked!
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