Everyone has heard of the saying ‘look after the pennies and the pounds will look after themselves’, however rarely do we give the expression any real thought.
For example, do you ever think how much you’d save every year if you didn’t buy that cappuccino on the way into work or if you halved the amount you smoked? Throughout this article we are going to unearth just how much better your bank balance could look simply by saving a few pounds per day.
The morning coffee
Naturally, not everyone is a coffee drinker, however if you are then you’ll know there’s nothing better than high quality Starbucks or Costa coffee to get you going in the morning. Even a medium flat white coffee will cost £2, have one of these per working day and you’ll find yourself spending £40 over the course of the month and £480 over the year!
The ten-a-day habit
Aside from the various health implications, smoking is not good for your wallet either. For examples sake we are going to say that you smoke 10 cigarettes or half a packet per day – a relatively insignificant amount in the grand scheme of things. The average cost of a packet of cigarettes in the UK is now over £7 so someone who goes through 3.5 packets a week will be spending at least £24.50 over the course of the week, £106 for the month and £1250 a year – not so insignificant now!
The Friday night takeaway
For many, sitting down in front of the TV with a takeaway pizza or Chinese is somewhat of a weekly tradition. However, in these tough economic times many are having to question whether they can carry this on. The average takeaway for one is likely to cost around £10; so while you may only be spending on average £43 over the course of the month that adds up to over £500 a year. We’re not saying you should cut out takeaways however simply halving the amount you have will save you £250 a year and you’ll look forward to it much more!
The unused gym membership
Maybe it’s a British thing but it seems our innate reaction to putting on a few pounds is to ring our local gym and take out a contractual membership. We seem to think the fact that we’re spending large amounts of money on a membership will motivate us to get off the couch! Unfortunately this is rarely the case though, in fact, 70% of people who start an exercise plan quit. If you’re looking to lose a bit of weight then simply dropping some calories out of your diet and being more active should do the trick. What’s more, your unused gym subscription could be costing you anywhere from £150 to £500 a year!
The Final Word
As you can see, by saving just a few pounds a day you could find yourself £1000’s of pounds better off over the course of the year. So you know that summer holiday you’ve been dreaming about – well, keep saving those pennies and you’ll soon be able to afford it!
This is a guest post by Jason Scott on behalf of https://www.guarantorloansonline.co.uk