3 Common Expenses that Can Kill Your Budget
By energy_linguist, November 17, 2010, Personal Finance
Shaving costs should feel like a proactive, life changing process … that is if you can ever get past the endless cycle of living paycheck to paycheck.
Budgeting is never as simple as cutting a few expenses, but it certainly helps to start with sensible cuts and go from there. It’s what I like to think of as your frugal foundation. So where to start when there are so many expenses to target?
Start simple, and the precedent will be set to follow through on.
3 Expenses on the Chopping Block:
- Coffee - Add up your weekly coffee runs and try not to toss cookies in your mouth. I love the Joe just as much as the next person, but buying bulk beans and investing in a travel mug so you can brew from home will save you cash, period.
- Lunches - Same category as above. We all know it’s hard to say no to friends/coworkers. We all know eating lunches out is a welcomed break from the office grind. Have you considered budgeting one lunch outing per week and then packing sensible, budget-friendly meals the additional 4 days? If leaving the office is a must, try finding a quiet park or place nearby to enjoy your lunch.
- Alcohol - No details necessary. Moderation, or often lack of, is the difference between a healthy budget and the complete opposite. This is a wholesome blog so I’ll avoid any diatribes on this sacred substance, but it goes without saying that going out is a sure fire way to break a budget wide open. If you’re young and free and don’t want to lose out on key social opportunities, then I suggest cutting this expense by not reducing purchases for the home. Compromise FTW.
So you have 3 expenses that meet my criteria for quick budget cuts. It’s not complicated to cut costs, certainly not if you manage one expense, one budget cut at a time. The question is, which 3 would you focus on first?
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