The Most Expensive Habits We Have—And How To Break Them
The Most Expensive Habits We Have—And How To Break Them
Humans are creatures of habit. We do something until it becomes a habit and part of our lives. Some habits are good for you—exercising and the like. But others can prove destructive. So, what are some of our most expensive habits, and how do we break them?
The Daily Coffee
Financial gurus have different opinions on whether or not you should buy that daily coffee. Some say you should abstain from buying coffee out and spend less per cup by making it at home. Others say not to worry about it and buy that daily coffee if it makes you happy. More than 50% of Americans buy coffee daily, spending roughly $312 annually. We're not saying you should give up coffee (we understand), but it is an expensive habit that costs you hundreds each year.
How Can You Break The Habit?
Start by buying the means to make your coffee at home—a coffee machine, Aeropress, or French press, depending on how you like it—and some local beans. That way, you just have to boil a kettle or fire up the coffee maker, and away you go. Depending on how much coffee you drink daily, your at-home brew will cost you less than a dollar. Meanwhile, your local coffee shop will charge you $4-5 to make the same drink.
Streaming Service Subscriptions
You may be subscribed to streaming services that you don't use regularly. Between Netflix and Disney+, Amazon Prime, and any number of others, our habit of subscribing to streaming services (because TV packages are much more expensive) may not be entirely healthy for our wallets. The average American family spends $61 per month on streaming services. That's over $700 per year! See which services you can cut from your subscriptions to save yourself money.
How Can You Break The Habit?
Take stock of how many streaming services you're currently subscribed to. Once you've done that, you'll have a dollar figure that's hard to ignore. Once you have that amount, determine if you can be without them. If so, then cancel your subscription.
Hey, presto, there will be immediate savings next month!
