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Top Money Sinkholes
By Jonathan swift
Top Money Sinkholes
Ever wonder where all your money goes? Not that I have a lot of money, but I do earn a nice sum from my day job. My rent is relatively cheap and my commute to work does not really cost much. Yet every time the next payday is about a few days away, I wonder and ask myself, where did all my money go? Why is it that I seem to be living from one payday to the other?
Well I ran across a very interesting – and eye opening – article at Bankrate. They listed down the top things that drain away the average person’s money. They are actually little things if you look at them individually but if you add them all up and look at the bigger picture, you will realise just how heavy they can be on the pocket. Let me share them with you.
Coffee
Ouch! This hit the nail right on the head! The article says:
According to the National Coffee Association, the average price for brewed coffee is $1.38. There are roughly 260 weekdays per year, so buying one coffee every weekday morning costs almost $360 per year.
True, this is in the US but I am sure that a lot of people in the UK spend a similar amount on coffee. Whether it is Starbucks or any other coffee shop, that cup of coffee a day can amount to a LOT at the end of the year. My alternative? Get a simple coffee machine and brew your own coffee. Another thing that I have started doing is to brew some at home and then bring a thermos to work. It may not be as good as freshly brewed coffee all day but it works – and it’s a whole lot cheaper!
Cigarettes
Another bull’s eye! Here’s the dish:
The Campaign for Tobacco Free Kids reports that the average price for a pack of cigarettes in the United States
is $4.54. Pack-a-day smokers fork out $1,660 a year. Weekend smoker? Buying a pack once a week adds up, too: $236.
Taxes make cigarettes and other tobacco products so expensive. That pack a day (or every other day for that matter) also adds up to a considerable amount. This should be a nice incentive to quit smoking for good. Of course, ideally, health reasons come first but if that is not compelling enough, maybe financial reasons will do the trick!
Alcohol
Here’s another bummer for party lovers out there. Alcohol drains your finances as fast as you get drunk on a fifth of whiskey:
Drink prices vary based on the location. But assuming an average of $5 per beer including tip, buying two beers per day adds up to $3,650 per year. Figure twice that for two mixed drinks a day at the local bar. That’s not chump change.
Alright, so that’s just for beer. How about for those who prefer mixed drinks and hard liquor? That stuff is even more expensive! I guess you just have to watch the frequency of nights out.
(to be continued)
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