How Can You Really Save Money?

The 3 Week Diet

Life moves on so fast and you are likely to be victim of daily routines such as getting your morning coffee at your favorite place, then there is quick visit to lunch place, then there are many quick breaks during the day from stress. What you may not realize how you have become a victim to your loose spending habits. So much so, you may not have enough money to cover a major expense unexpectedly.

Many Americans are financially stressed? According to a survey by Bankrate, almost two-thirds of people (including 46% of those making more than $75,000 a year) don’t have enough money to cover a relatively small unexpected expense, like a $500 car repair. It is true that stagnant wages and rising costs for health care, education, and housing are big reasons why many people can’t get ahead. However, you are also a victim of your small-scale every day.

The Bureau of Labor Statistics data indicated that the average American household spends $55,978 per year. Forty-four percent people admit lifestyle purchases – like dining out, spa treatments, travel, and movie tickets – keep them from saving less than they should every month. Then there are those throwing money away on little luxuries, like that extra glass of wine at dinner or new pair of designer shoes. Amazingly, many people are also wasting precious dollars on essential purchases by failing to shop around for insurance, hitting the grocery store when we’re hungry, and making other simple spending mistakes.

Saving is essential if you are unable to increase your earnings. If you want to be proactive, then it is time to take a close look at your spending. There are few ways you may be wasting your money that you may not have realized. The major step in your financial security lies in minimizing your unnecessary spending.

Save On Your Cable Bill

Cable Subscription

Ditching your cable company to another alternative service will make substantial dent in your monthly obligations. There are streaming services like Netflix or Hulu, which cost between $8 and $10 a month, can help you fill the TV void in your life, and you also can buy stand-alone episodes of your favorite shows from Amazon, iTunes, YouTube.
You are likely to save- $99 per month, or $1,188 per year

Save On Your Cable Bill

Credit Cards

According to NerdWallet, the average household has $15,310 in credit card debt. That means $191 is paid monthly towards interest alone. If you make the minimum payments, it will take you decades to rid yourself of the debt and the expensive interest charges. You will need to take aggressive approach to pay the credit card debts.
You are likely to save- $2000 or more per year

Smoking and /or Happy Hour Visits

You are aware that smoking and drinking is not good for your health. They are causing you substantial financial drain. If you smoke a pack of cigarettes average cost $6.28, you are spending about $2300 per year. Then there is a weekly escape to happy hour from your stress at work. It is not unusual to spend as much as $30 per each outing, amounting to $1500 spent per year. These habits are not draining your wallet but they may be contributing to your health expenses.
You are likely to save- $3000 or more per year

Save On Your Cable Bill

Branded Coffee Routine

Over the years coffee has become expensive and necessary indulgence thanks to effective marketing by major outlets. It is not just coffee anymore but vanilla lattes, caramel macchiato, etc. It is estimated that average person spends about $10 per day for coffee at well know coffee outlet. That is over $3000 per year just for coffee. If you start brewing your own coffee at home you will realize substantial savings.
Potential savings: $3000 or more per year

Impulse Shopping

One of the major reasons the credit card debts is increasing you making impulse purchases. According to, people spend more than $100 on impulsive purchases. These impulse purchases occurred at the retail stores. Now the impulsive purchases are even higher thanks to online shopping. Unfortunately, impulsiveness can’t be eliminated but you can make your access to credit cards restrictive so you can avoid purchases from impulse shopping.
Potential savings: $1,500 a year or more

Save On Your Cable Bill

These are just few examples where most Americans are wasting hard-earned cash went. It is time to take a close look at your spending to determine your own budget leaks. By plugging your stubborn budget leaks, you could be able to increase your savings and your financial security significantly.

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