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Starting to budget is like getting a root canal. You know you need it, but you don’t want to do it. You can get nickel and dimed to death if you don’t pay attention. Little things add up quickly! Sometimes you don’t think you spend a lot of money on something, but when you pull out your receipts, they tell another story. So, what are some of these little budget busters? Here are 7 things that will destroy your budget:
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- Monthly subscriptions
Monthly subscriptions just SEEM like a petty amount because they are just $10 per month, but that is $120 per year!! That is an extra student loan payment. Yep, just $10 per month.
Look at your budget and see if there are any subscriptions you can cut out.
If you aren’t balancing your checkbook, there are probably some subscriptions that come out of your account automatically you forgot about.
Drinks will destroy your budget faster than anything. I mean, have you seen the Starbucks menu? Even at other restaurants, fountain drinks are about $3 a piece. You can just switch to water when you go out to eat and save a ton of money each month.
Even at my work, if I get a drink or two a day out of the vending machine, that is up to $10 a week or $520 a year!
See, these little amounts don’t seem like a lot, but when you annualize them, they add up quickly!
This is probably more for the men. I have to try really hard to keep my husband out of the gas stations. Every single time he goes into the gas station, he spends about $10-$12. A couple of times per week and that REALLY adds up.
If you know you are going on a road trip, bring your own drinks and snacks from home. This will help save you a lot of money.
Going out to eat can sabotage your budget. Plan an amount to spend at restaurants in your budget and stick to it.
You don’t realize it and you try to each cheap by ordering off the Dollar Menu at McDonald’s, but it can cost you a LOT of money if you aren’t careful.
You can also join loyalty programs and use coupons to really stretch your dollar. Also stay away from appetizers, desserts, and any other drink but water. This will also help save you money at restaurants.
Cut the cord with cable
I know this might sound sad, but you really need to cut the cord with cable. Our cable was bundled with the internet and we paid about $150 per month. We cut out cable and the bill went to $66 with tax. That is almost $100 per month or $1200 per year!! Talk about a savings.
I will NEVER go back and pay for cable. It is TOO expensive. You can cut out cable and get Netflix or Hulu for under $10 per month.
Impulse buys will add up quickly. Create a budget and stick to it. It if isn’t in the budget, don’t get it.
Make a grocery list when you are grocery shopping and stick to the list. My husband is the king of impulse buys at the grocery store, so I just budgeted in the impulse buys. If an item isn’t on the list, he gets to purchase it up to a certain dollar amount. If it is outside the budget, he can’t get it.
Not meal planning
Meal planning can really save you a lot of money at the grocery store. Instead of buying a bunch of random things at the grocery store, you are buying complete meals. You don’t have to guess what to cook.
You just write up a few meals and go to the store. The more times you go to the store, the more likely you are going to spend money on impulse buys. The key is to go to the store as few times as possible.
Be careful of these 7 things. They will sneak up on you and really destroy your budget if you aren’t careful. What other things do you have to watch out for in your house? Let me know in the comments below.