Expenses Eliminated: Why Certain Budget Items Simply Have To Go

When was the last time you looked at your budget?

More specifically, when was the last time you looked at your budget?

Sometimes, more than that overpriced vehicle, a home mortgage that is massive, and leaving every light on in the house or taking 40-minute showers, the everyday expenses are the ones that are leaving you light on cash from one month to the next.

We often overlook these expenses, specifically cutting them, as a means to save money. Instead, the first thing we do is opine and complain about how much our car costs and that we want to trade it in or ultimately think that downsizing to a smaller place is paramount.

And while those are money moves that matter, those are terrible decisions, ones that should be made entirely honestly as last resorts if all other means have been exhausted. If you lose your job, a spouse or partner move out as a result of a divorce or your financial situation is completely thrown for a loop, then, by all means, think about these options first and foremost.

Also, selling a house and moving into an apartment or getting rid of a $50,000 vehicle and into one that is around the $10,000 mark should also be entertained if you only have no money leftover from one month to the next.

But before you uproot all of it, what about the day to day activity, money wise, that may be holding you back just as much if not more so since these are silly, somewhat unneeded expenses.

Did you know a $5 coffee daily costs you $2,000 per year? When you put an inconsequential expense on that level, you take note of it more than the five dollar bill that leaves your purse or wallet every day.

And just as hard to believe, a $20 bill spent daily for lunch or dinner or a combination of the two is going to cost you more than $7,000 per year. That’s the cost of a decent used vehicle, and you’re using it for lunchtime subs and dinner salads.

Unacceptable and unnecessary.

Budgeting is about moderation in some cases, too, mostly with the smaller, daily expenses. Having lunch out once a week or a cup of $5 coffee a few times a way (rather than every day) can still give you that added benefit and enjoyment you get from things like this, but not to the point that it costs you thousands of dollars per year.