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5. Wasting Discretionary Income
Many people who are not happy with their financial situation are also unaware of how much money they spend on life’s little extras, such as fancy espresso coffees and buying items that seem essential, but aren’t.
If you keep a log for one month, it is likely you will see exactly why you don’t have any extra money. If you buy two coffees per week, you are probably spending $32 a month versus making coffee at home for pennies. If you go out for lunch every day rather than bringing it to work, you are probably spending close to $50 per week, or $200 per month. Making lunch will probably save at least two-thirds of that amount. It is often these little extras that can be easily eliminated and will give you money to pay off debt and start saving.
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