How I Saved Tons of Money By Stopping These 4 Bad Habits
When it comes to spending, unfortunately, I found myself always led with the idea that since I can afford it, why can't I get it? That resulted in mostly getting what I want instead of what I need.
So, I had a talk with my husband and we agreed that we need to start being more conscious about our spending habits. We will go a month where we cut back on bad spending habits and see what impact it will have on our savings and life.
So, Here are the 4 unhealthy spending habits that we cut down together with the end result.
I switched Starbucks for the office coffee machine
Its weird how this has become a normal part of most people's days but if you look at it, is actually insanely expensive. One business man once gave the advice to millennials, stating that instead of buying the 5-dollar daily cup of coffee, put it in your savings and buy yourself a house in the end. And Its so true.
While the office coffee is not as frothy as the Starbucks one, it certainly is not intolerable either. Same effect, healthier for the pocket.
I switched eating out for home-cooked meals
Living in a city like Dubai, we are spoiled for dinning options and the fact thats its all available with the click of a button and delivered to your door step! So when we slowed down and observed, we found out that we ate out almost daily, and that varied anywhere between 30 to 150 USD for a meal for two.
So we decided to stick to eating out only on special occasions and with friends on the weekend, and instead, decided to cook together every evening when I get home.
I wrote a list for what I need from the supermarket
Raise your hands if you have a thing for supermarkets? I do. I just love going through the aisles and aisles of things. Its like a world of endless possibilities (and recipes). Problem is, this always results in an "Oops, I accidentally spent 100 USD on things I wont use" kind of reaction.
Instead, I wrote a weekly list according to what we planned to eat during the week. I would go to the supermarket and will only buy whats written. I also started looking in the pantry and the fridge to come up with meal ideas based on what we have rather than what we don't.
I banned impromptu online shopping
Scrolling down my Instagram feed and spotting something my favorite blogger is wearing, I would find myself ordering it within 3 mins. However, This has resulted in too many things that either don't fit well or that I don't really need.
So, I decided to ban the impulse shopping and instead, everytime I liked something, I saved it somewhere on my phone. Then towards the end of the month, if I still think its a great idea to get it and I looked through my waredrobe and know I need it, then I will buy it. I was shocked at the amount of money I saved from just this habit!
Finally, Getting creative to save and having fun with it
I have to say, this reminded me a lot of school days and when we used to think of creative ways to have fun without the extra dollars. So we started thinking of new places to visit or things to do that doesn't necessarily need too much spending. For ex.; we started using the pool in our building for an afternoon "out" and eating our dinner there.
Another thing was using apps like The Entertainer for 2-for-1 deals. This one was incredible as we got to save a LOT and still go to our favorite dinning spots and even get my favorite beauty treatments.
The results & bottom line
When we calculated how much we saved towards the end of the month, I was shocked at the number. It was somewhere between 1000-2000 USD! This includes; coffee, dinning out, impulse shopping, and savings we made using offers and deals app.
The bottom line: Cutting these bad habits did not only teach us a valuable lesson but it also put a significant amount back into our bank account. Most importantly, it reminded us to make more meaningful, thoughtful financial choices going forward and as such, affording to get a nicer house or paying off any debts and loans not to mention reduce stress.