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Hidden Costs That Drain Your Budget
What Does Your Lifestyle Really Cost You?
If we’re being honest, this is a question that many don’t think to ask very often. Today, we’re going to dive into the hidden costs that accompany everyday events like going out for dinner or taking your clothes to the cleaners.
Dinner for Two
If you’re going out for dinner, there are more things to consider than the menu prices that you looked up online.
Are you paying a babysitter?
Do you need gas in the car?
Are you going to buy appetizers? Drinks? Desserts?
Where did you park? Did you have to pay? Was there a mandatory valet?
Asking simple questions like these can help you see around the corner of what seems like an innocuous date night. Maybe in your mind you budgeted $50-60 for the evening. Adding in the cost of childcare, fuel, parking and the fact that your server will try to upsell you, your actual cost could be 50% or more higher than planned. A $50 meal can easily become a $90 meal in the blink of an eye. Oh, and then there’s the tip.
Shopping at Big Box Retailers
Let’s say you’re going to a superstore to pick up some milk and bread. How did you go in for two items and end up spending nearly $100? Many of us have had this experience. That’s why it’s so critical to shop with a list in hand, have a budget, and if necessary, bring just enough cash to cover your list.
A Quick Coffee Break
How often do you spend money on things like coffees during the workday or little snacks? Double the price if you pick up one for your friend or coworker. Micro-purchases like these can eat away at any margin you’ve created in your budget, and before long, you could be short on your bills by the end of the month.
We could keep the list going — leasing a car vs. buying used, rideshare services vs. public transit, ordering pizza vs. cooking at home, storage units [links back to sharing article] vs. selling or donating? Where are the weak spots in your budget?
At CreditGUARD, we understand. You work hard so that you can enjoy your life. The problem is, that without vigilance and discipline, the life you’ve worked hard to enjoy can quickly become out of focus and unmanageable because of credit card debt.
If you’re in a situation with your current debt situation that feels unmanageable, you’ve got a resource right here in CreditGUARD. Our certified credit counselors can help you get back on your feet with financial education and non profit debt consolidation that doesn’t involve any new loans. If you’re ready to get your financial future in order, call CreditGUARD today to learn more about how we can help you move forward!