5 Habits that are Making a Serious Dent in your Budget

If so, you might have some habits that are sucking your bank account dry. Today we’re going to learn about five bad habits that can really make a serious dent in your budget.

Smoking

Not only is smoking unhealthy for you, it comes at a serious financial loss also. For those who smoke about one pack a day, the cost of smoking can put a huge strain on their budget. Smoking a pack a day for a month can cost about the same as an average car payment! A great way to have more money in the bank is, of course, to stop smoking. It can be very difficult to give up cigarettes but with the help of a medical professional, you can overcome your habit and save money at the same time.

Eating Out

According to the Canadian Restaurant Food Association, up to 16% of the population dine out every day! Eating out is fun, and is sometimes necessary for work or to spend quality time with your spouse. However, eating out too often can severely hurt your budget. Meals prepared at home are more affordable and usually much healthier. Save a night out on the town for special occasions with your loved ones.

Lottery Tickets

While most lottery tickets only cost a few dollars, their cost can quickly add up. Playing the lottery can be fun but it can also be addictive. Some people spend too much of their hard-earned money on the lottery. By cutting out lottery tickets from your budget, you will have more money at the end of the month.

Credit Cards

Credit cards can be helpful in an emergency but they can be very hard to pay off. Most credit card companies charge high-interest rates. Paying interest on money you’ve already spent hurts. Also, if you miss a credit card payment, you might get slapped with a hefty fee. A great alternative to a credit card is a short-term loan. You can take up to 90 days to pay back an online loan from a trusted lender such as 24Cash.

Grocery Shopping on An Empty Stomach

When you go grocery shopping on an empty stomach, you tend to spend a lot more money. Impulse buying when you are hungry can put a damper on your funds! Before you go to the grocery store, make sure have a few snacks or a light meal. This will prevent you from buying unnecessary food items.

In Conclusion Each of these habits can put a strain on your monthly budget. If you want to save more money, why not cut at least a few of them out? Your bank account will thank you!