I've been on financial "Lock Down" for a few weeks now as I work harder at straightening out my finances. I know I'm not the only person who has wants over needs that prove to be money leaks. Here is the list of the five things I'm cutting out of my life.
1. Designer Drinks
Starbucks, Caribou, other coffee shops. All of them charge around $3 to $4 for a drink. This tip is at the top of everyones list because so many of us do it. You really don't need that Triple Venti Three Pump Vanilla Latte with 2% Milk and Extra Foam. You just want it.
This one will be quite hard for me because I am the kind of person that likes to work in coffee shops.
2. Bottled Water
It's bad for the environment, it's bad for your wallet. Invest in a Pur or Brita Tank or Pitcher and buy two or three travel water bottles. Be sure to run them through the dishwasher regularly. We have this one.
3. Credit Cards with Annual Fees
I was enticed by the offer of 15,000 bonus Skymiles for opening up a new credit card. They also waived the annual fee of $85 for me the first year. Now I have the card and am getting the annual fee, and I know that I will never be able to spend enough to get 15,000 Skymiles again (and if I am spending that much on my credit cards, I have bigger problems that affording a plane ticket to San Francisco). I'm closing the account and switching to a credit card with good Cash Rewards.
4. Going to Movies
Yes it's nice to go and see movies, but with all of the rental options available, isn't it better to just grab all of your friends in someone's living room and hang out and watch a movie? Everyone gets the same amount of entertainment at a low cost, you can bring your own food, and you get to sit on couches instead of uncomfortable chairs with chewing gum all over them and a sticky floor.
5. A Gym Membership
Unless you honestly go three times a week, find other ways to exercise. Go running or walking, go for bike rides with friends. Try yoga or pilates at home. Take the stairs instead of the elevator. Besides, spending time outside really is good for you and Vitamin D and fresh air are wonderful things.
On a side note, the Finance Fiesta Carnival is today and I'm included.