This article is for the average jane that want to cut back on their spending a little bit but have no clue where to start. I mean, you’ve seen your $2000+ credit card bills each month and you don’t know what you’re doing wrong. You didn’t really buy that much this month did you? If it was a pretty average month and you’re spending more than half your earnings on non-necessities like paying for your rent/car/groceries, where is the rest of your money going?
Here’s a reality check for those that realize you’re overspending. Maybe some of these some familiar? Check and see what your main weaknesses are and try to cut down on it!
1. Going Out to Eat
When you go out to eat, do you buy a $20 meal or do you spend it on a $70 meal and leave a $20 tip? Do you do this often, as much as once or twice a week? If you’re not earning $100k or more a month, there’s no reason you should be spending this much on food alone. No, being a foodie does not cut it.
How to cut down on it: Cook more, go out less. Limit yourself to a certain amount to spend per week. If you’re the life of the party and constantly being invited out by others, decline once in a while or order something not too expensive. That $70 steak is only going to make you happy for a few hours.
2. Movie Tickets
Movies are one of my biggest weaknesses. When you see some big blockbuster during a preview of the movie you’re currently watching, you’re like “OMG I HAVE TO WATCH THAT.” Then you go to that movie. And the cycle goes on.
How to cut down on it: Watch movies at home. Stream, torrent, whatever. We are not condoning illegal activities but if you really want to watch that movie that only got 4.0 on IMDB then we don’t think it’s worth the $20+ in movie tickets and popcorn to watch in a theatre. Save the movies for those special date nights or for that really amazing movie with all the cool CGI and 3D effects.
There probably aren’t many smokers reading this, but alcohol is pretty common among anymore 18-80. If you do smoke, you know it can get really pricey, especially with these additional taxes going up every year. Alcohol is not as bad, but if you’re hitting the clubs or buying a bottle every day, it can take a toll on your wallet.
How to cut down on it: Quit smoking. There are a lot of smoking cessation products out there now to help you: the gum, patch, and anti-smoking prescription drugs. If you’re smoking a pack or more a week, that really adds up in a year. If you can’t quit right away, try using e-cigs instead. There are tons of youtube videos available for you to chose the best one. They end up being way cheaper than buying cigarettes.
As for alcohol, unless you have an alcohol dependency, it’s not necessary to quit it completely. Don’t go out to the club every weekend, and if you do, don’t buy 3 bottles of patron. Just kidding, you probably shouldn’t be buying bottles anyway. Pre-drink if you can, and go for the cheap shots (cause who cares, you’re getting drunk anyways). Bring all the cash you need, so you don’t overspend. Tell someone you trust to watch over your wallet.
Ahhh.. we love vacations. Such a nice break from reality. But hey, just because you’re far from work or school, doesn’t mean you should get carried away with spending your hard earned money. That one night in Vegas could end up being your whole month’s paycheck.
How to cut down on it: Don’t get too drunk, don’t go out of your budget, and don’t buy a million souvenirs. Know you have a budget and don’t exceed it. Remember that even whatever happens in Vegas stays in Vegas, including your money. If you’re with family or friends, tell them that you don’t want to blow all your money on this one vacation. They will understand.
5. Buying New Clothes
Who doesn’t love shopping for new clothes? When you see that new dress from BCBG do you automatically go to the mall to try it on and probably buy it? We all got our shopping addictions but if you’re spending excessively on clothes, then we might have to consider cutting up your credit card.
How to cut down on it: Don’t spend all your money in one basket. Buy some clothes here and there, and try not to buy the latest fad that’s suddenly out just because you think it looks super cute. Spend more times in outlet and thrift stores rather than the mall. You never know what treasures you can find in a sea of cheap clothes. Remember that while brand names might be cool for showing off to your high school friends, looking good is based on taste, not brand.
Makeup is probably my second largest vice. And girls will often know they do this, except it’s near impossible to stop when Sephora has in stores a brand new limited edition product.
How to cut down on it: Buy makeup dupes instead of the actual brand name product. Check out some of our makeup tool dupes that are readily available for a cheaper price. You can save a bunch of money if you don’t buy the makeup brands for how they look, rather than how well they work.
What do you excessively spend money on?
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