One of the things that annoy me is how some people claim that they’re broke yet fritter away their money. It makes me wonder if they’re looking for sympathy, or hinting me to lend them some? I mean sure, we can’t totally cut back, go cold turkey and live on bread alone just because we’re broke, but if you’re still wasting your money then you are clearly not broke (so you should stop saying it), and if you are truly broke and wasting money without realising it, here are some things you can cut to save you some money (and keep friends who are tired of hearing that you’re broke):
Stop that daily latte.
What? But it’s just a latte! Well, a latte from Starbucks costs about S$6… that translate to S$2190 a year! Either drink at home, or get a regular coffee. I personally love my local Coffee and Toast’s S$1.50 coffee – it’s not as classy as Starbucks, but I have better use for that S$4.50 price difference! I will still pay for my daily cuppa, but I can choose wisely on where it is from and how much I am paying for it.
Stop Going to the Movies Every Weekend.
Cut down on once a week movies. But what will I do, you say? You can stay home and watch TV, read a book, exercise or go for a stroll in the park! It might not sound like a lot at S$12.50 for a weekend movie ticket, but add the snacks and it will add up. Not going to the movies every weekend will save you S$650 a year or more. Now the key word is “every weekend”, so I am not saying no to movies, just not every week – mix it up and you will save money with a more exciting personal life!
Smoking is expensive, not to mention unhealthy. I know it’s addictive so it’s easier said than done, but if you’re broke and still smoking, why not think about cutting it down and you’re not just saving money but also your health (and your medical bills over the long term). Plus you will smell good!
Say No to Taxi; Take Public Transport.
I have a friend who complains every single time I meet her that she is broke… but she takes the cab to work every morning. It’s amazing! Thats $15 a day, so multiply that by 250 work days a year and you get $3750. Like I like to say, common sense is not common. Take the bus or train.
Stop Window Shopping.
Window shopping is for people who have the time and money to do so. If you don’t have either, write down a list before you run to the shops. I always find myself with random unnecessary purchases if I just shop without a purpose. Note what you really need and go to the store only when you need something, and then only purchase what’s on the list.
Stop Upgrading Your Geeky Toys.
Yes, that new phone looks cool. But how cool will you be when you can’t afford to buy anything else or pay for drinks when you go out because you bought that spanking new phone? Your old phone works. Stop buying things that are redundant. Once I upgraded to the coolest phone for S$300, only to drop it 2 weeks later so I spent another S$300 to get a replacement. Not cool.
The list goes on and I can continue but I won’t. And it differs between people and where you are, so these are just some of the things that should apply for most people; for example I would include “Stop Eating Out All the Time” if I was still living in the UK, but in Singapore that is not really an issue because it’s probably cheaper eating out than packing food. I think you get the point now.
And as always, I’m not saying that you should deprive yourself just because you’re broke – if you only have $10 in your wallet, then you need to be selective and think of what item will give you the most amount of satisfaction. If a cup of Starbucks coffee gives you the most happiness, then so be it and get it, but remember that you’re giving something else up for it. I always think that we have to enjoy life, no matter what the circumstances, but not so much that we remain broke forever.
Image Credit: TaxRebate.org.uk