*I am not a financial expert. This is not profession (or personal) advice. I am sharing my experience with finances to help you make healthy decisions about how you spend your money. How you choose to use this information is up to you. If your finances are in serious condition, I highly suggest finding a financial coach or advisor.
Hey y'all. Brigette here, ruining the way you spend your money.
Here's the deal: your money is yours to spend however you choose. But spending it wisely has a lot of benefits, including glorifying God with the way we spend our money (that He technically gave us). Here's a few things you might be spending money on that you probably shouldn't be.
Can you tell me right now everything that you're subscribed to? If not, that should concern you. You might be subscribed to something you've totally forgotten about. Or you're subscribing to a service you don't actually use anymore and you should probably just cancel it. Check out your credit card records and make sure you aren't paying for something you don't use.
2. Food Delivery
Yes, I know, it's nice to be able to sit in front of the TV in your sweatpants waiting for your food to be delivered. But, if the place is right down the street, save the cash. Not only will you be able to avoid the delivery fee, you won't need to tip the driver either. And since COVID started, a lot of places will bring the food out to your car, so you can hide the fact that you're wearing your pajamas. The only one who will notice is the employee that walks out to your car. And the delivery guy was going to see you anyway, right?
Starbucks is nice once and awhile, but buying a $5 coffee everyday is expensive. Let's put this in perspective. Let's say you pick up coffee everyday before work. In 25 days of work (that's about a month) you'll spend $125 just on coffee. You can buy a lot with $125 dollars. Even if your coffee runs closer to $2-3, that equals $50-75 a month, again, on coffee. That's $600-900 a year. On COFFEE. You could save $1000 a year by making your own coffee, or getting one of those coffee subscriptions like Panera has started doing recently. And I can just about guarantee if you cut back on the super sweet, milk and sugar coffee drinks (that don't help you wake up; they just deliver a ton of calories) you'll probably lose some weight too!
4. Credit Card Interest/Payday Loans
I'm going to teach you two VERY IMPORTANT things right now. One, you should NEVER EVER pay just the minimum on your credit card bill. And two, you should live WITHIN YOUR MEANS. EVERY MONTH.
Let me stop with the caps and give you the quick lowdown. If you make $2000 a month, you should live on $2000 a month. That's basic logic. If you don't make enough to sustain your lifestyle and family there are two possibilities: either you need to get a second job or better primary job to support your family (or another member of your family needs to work), or you need to adjust your lifestyle. For most people it ends up being somewhere in between. Again, logically that makes sense.
Now, IF you are living within your means (and you pay attention to when you're getting your paychecks and bills) then you should never have to use a payday loan to have money immediately. If you have trouble having the money at the right time of the month, use a credit card where you can, but ONLY SPEND MONEY THAT YOU ARE EARNING!! A credit card should be used like cash. You only spend what you have so you can pay it off EVERY MONTH.
The bottom line of handling your money: you should have a budget. For more information about creating a budget, I highly suggest checking out the SeedTime blog because Bob and Linda Lotich are amazing. True story.
Are there other things you can think of that most people end up wasting their money on? Comment below to share!