If that $4 cup of coffee you stop for every morning really seems to start your day off right, it may be worth what you’re spending. But if it’s just a habit, think how much you’d save if you brewed that cup of joe at home and took it with you in a reusable container. And if spending less and saving more is high on your to-do list, here are seven other spending habits that may be useless expenses that you can cut out immediately.
- Smartphone Upgrades – Trading up to the newest model each year will not necessarily give you vastly better features, but it will almost undoubtedly involve another upfront cost and perhaps a longer commitment.
- Expensive Haircuts – Consider how much you’re spending now on basic haircuts and color. Switching from a luxury salon to a less expensive shop could save you hundreds of dollars a year, and leave you just as happy.
- Movies Out – The average cost of a movie ticket today is more than nine bucks a pop, plus the cost of snacks and drinks. Even on date night, streaming a movie at home on the sofa may be a whole lot more comfy and will surely save you big bucks.
- Incandescent Light Bulbs – It may sound trivial, but if you still have old- fashioned bulbs lighting your home, switching to LED bulbs could save you up to $45 a year in energy costs, according to the Department of Energy.
- Brand Name Goods – Brand names are often worth a lot more to the companies that produce them than they are to the consumers they serve. Try more generics in everything from groceries and household goods to make-up and clothing and stash the money you save each month in your ailing bank account.
- Unused Subscriptions – From magazines to gym memberships to streaming services, you may be paying by habit every year for subscriptions you are not using. It’s time to take a good hard look and eliminate what you no longer want or need.
- Commuter Costs – At the price of gas today, not to mention wear and tear on your car, look into cutting commuter costs by car-pooling or taking public transit.
