It’s just a coffeeA coffee on the commute to work can be deemed a minor expenditure and a ‘must have’, in your daily spending habits. However, a pick-me-up at your favourite coffee shop can ensure that you are financially tense at the end of each month. Average price of a coffee: Daily – £2.45 Weekly (Mon – Fri) – £12.25 Monthly (5 days a week) – £49.00 Yearly – £588 Equates to – One-way ticket to New York
I just don’t have time for breakfastPicking up breakfast every day can be costly and should be deemed an extravagance. Ensuring that you always have brekkie pre-packed or waiting for you at the office can save you 100s throughout the course for the year. Average price of breakfast from a mainstream coffee chain: Daily – £3.00 Weekly (Mon – Fri) – £15.00 Monthly (5 days a week) – £60.00 Yearly – £720 Equates to – One-week holiday in Ibiza (flights and accommodation)
I’ll take an UberUber has 3.5M users in London alone. Jumping in a taxi home can fast become the norm as there is no doubting its convenience. However, the convenience can hold a heavy price tag. One Uber a Week – £10.00 Monthly (one day a week) – £40.00 Yearly – £480 Equates to – Acer Aspire Laptop
FOMOAre you a ‘yes’ person, and attend events that are not exactly on your bucket list? The ‘fear of missing out’, can not only waste your time, but waste your money. The total of drinks and taxis can really hit your bank balance. Save the pennies for an event that matters! Drinks across the evening – £60.00 Taxi home – £15 Costings over the year with one evening a month – £900 Equates to – TAG Heuer watch
Tips and tricksWhat to cut down on daily spending habits and accelerate your saving? Try these simple tricks.
- If you have purchased that ‘must have’, trend led piece of clothing and not worn it within the 28 days of purchase, maybe its time to think about returning it.
- Carry cash for the week so you know exactly what you are spending throughout.
- Buy Cheap buy twice, instead of buying cheap long-term purchases, invest in your products to ensure that they last.
- Goals – Set yourself goals to remind yourself what you are saving for in the long run
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