3 Bad Spending Habits You Should Stop Now

Common Money Saving Myths and Mistakes
January 19, 2018

3 Bad Spending Habits You Should Stop Now

Are you wondering where your money is disappearing to or how you can cut back your expenses? Here is a look at 3 of the most common expenses which you might not even notice are costing you a significant amount of money every year.

Coffee Shops

It is very common for people to regularly visit their local coffee shop for a hot drink to take away and it is costing them a fortune. Even if you were only to buy one coffee a day, 5 days a week at a cost of just £2 per coffee within a year you would spend over £500. You can greatly reduce this expense by buying a travel mug and making your coffee at home. You can still take it on the go with you and it can still taste great but it will cost a lot less.

Gym membership

If you have a gym membership but rarely attend you are likely spending a lot of money which would be better used elsewhere. Replace your infrequent visits to the gym with cheaper or free alternatives such as playing sports or running. Furthermore, depending on how rarely you use the gym it may be feasible to pay as you go if this is an option at your gym.

Buying lunch at work

It may seem practical to buy a meal deal from a nearby shop on your lunch break but even a £3 meal deal can add up to a large amount if you do this frequently. Much like your coffee shop visits the price of lunch can be significantly reduced by taking it to work from home. The savings will add up and it will also likely reduce food waste at home in the process.

By replacing just one of these expenses with a cheaper alternative you could save as much (if not more) than £500 a year, which is a lot of money for such a small change.

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