In my previous article: Re-evaluate your Expenses to Save Money, I mentioned discussing your expenses on a monthly basis with your loved ones to see if there’s anything that can be trimmed off that’s not necessary. Three expenses always seem to pop up every month. Some you may already know and maybe decided to just ignore it or maybe there’s a couple that might surprise you.
Food: Be honest with yourself about this one. Do you really need to buy everything organic? Better question is do you actually eat all the produce and food you buy? From personal experience, I get so mad at myself when I find food going bad because it’s been at the back of the fridge being neglected. Maybe it’s just me but do you ever go to the supermarket with the intention of buying the vegetables and the healthy items and tell yourself that this is my new start on eating healthier…but still sprinkle in some chips and goodies.
The problem I’ve had is that within the first week, I ate ALL the good stuff (chips, ice cream, fruit snacks) and left all the healthy food behind to just sit there. Before you know it, the food has gone bad and your money is down the trash. How did I get out of this habit? I had to be very honest with myself and commit to eating the stuff I bought. My wife also created an erasable magnetic white board so we can list all the food in the fridge and erase them off the list once that food has been consumed.
Monthly Services: This one is like a little leach all over your body just sucking up all your blood. One may not hurt too much, but when you have ten or even twenty on you, then you can be in real trouble. Examples of these services are Hulu, Netflix, Cable, internet, shaving kits, Makeup Kits, Phone bill, magazine subscriptions, and many more. Do you really need all of them? The answer is No, no you don’t. Remember that there is a difference between needs and wants. We need water, food, shelter, oxygen, and clothes. We don’t need to watch the latest season of The Flash on Hulu or the fastest internet offered.
Car Payment: The average car purchase cost over $30,000 dollars. What does that mean for most people? That means financing the vehicle for several months. You know how I feel about financing cars. Monthly payments run between $350-500 and that’s not even including other expenses for the vehicle. A few years ago, I purchased a brand new 2014 Mazda 6 and the monthly payment on that was over $400. I paid that car off after two years and sold it without ever looking back. My bank account is much healthier because of it. The solution for this problem would be to only buy a vehicle that you can afford up front and buy a vehicle that fits your needs.
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