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Insights on money, career and trading

You Won’t Believe How Much Money You Are Throwing Away On These Bad Habits

Posted on April 14, 2016 by Daniel at 7:28 pm

Are you trying to save money, but your savings just doesn’t seem to ever add up? It could be that some of the things that you are regularly spending money on are sucking your savings dry. It’s most likely these things are some bad habits that you’ve taken up, like smoking, that you just didn’t realize take $300 or more out of your savings every month.

If you really want start saving some money, you should work harder at dropping some of these bad habits so that you have some extra money to put away. Instead of buying alcohol, buying cigarettes, and eating out at fast food restaurants, you could use that money that you would have spent for part of your savings, and you’ll find that your savings adds up much faster.

Alcohol

Not only does the money you spend on alcohol, whether it’s for drinking at home or you’re drinking at the bar, add up quickly, you may also find yourself spending more money if you can’t control your drinking and end up in rehab. Why not stop drinking while you’re ahead, since basically the only thing the alcohol is doing is damaging your liver and your heart.

If you want to know how much you are wasting on alcohol each month, here is a trusty alcohol spending calculator.

Smoking

Smoking isn’t just harmful to your health, and the health of the people that live around you, but it is also harmful to your wallet. Consider the fact that an average smoker spends about $300 a month on cigarettes. That’s $300 more a month you could be putting into your savings account.

Think about the fact that is the cost of a car repair, or a home repair, or even a house payment. All of these more important things you could be doing with that money, rather than slowly killing yourself.

Junk Food

Do you know how much money you are spending on empty calories and foods that go straight to your weight each month? Consider how many times you eat out at fast food restaurants a week, a month. This is leading to obesity and other health problems.

So is the sugar you snack on at home. If the main thing you drink on a daily basis is soda, you are not just harming your waistline, but also your teeth. Find healthier snacks to eat, and if you must eat out, find a nice place with healthy food to sit down and eat.

Not only are every one of these vices costing you your savings each time you buy them, they can all also be costing you more money in doctor visits, from that new strange cough to your ever growing waist, and your failing liver. Drop the bad habits while you can, and put that money away for something better in the future.

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Insights on money, career and trading