The Right Way to Spend and Save

Don't Go Broke

When planning a budget, many people tend to overlook how much money can be wasted on minor purchases over a long period of time. Because many of the things that people buy are only a couple of dollars, they tend to view them as inexpensive necessities. 

However, these small amounts can quickly add up, and they can lead to major financial problems such as overdrawn accounts and missed bill payments. In fact, it is very common for a person to look over their bank statement and wonder where all their money has gone. Therefore, anyone who is wishing to avoid these kinds of issues should pay careful attention to several areas of possible overspending. 

Coffee and Lunch 

A common area where people tend to waste money is on convenience store items such as coffee, soft drinks and snacks. During the hectic morning rush, stopping off at a drive-thru for a quick coffee or breakfast can seem so simple. However, when a person does this every day, they can soon discover that the convenience comes at a great cost. 

If they also factor in lunches, then much of their paycheck can be spent on just eating during the course of their workday. When possible, coffee and tea can be prepared at home. Lunches can also be packed the night before in order to avoid going out to eat. Another great way to save on this area is to bring leftovers from the night before.

Bank Fees and Overdraft Charges 

Many people also do not always consider how much money they lose on bank fees, overdraft charges and the interest charged on their credit cards. When possible, a person should try to withdraw their funds from an approved ATM that includes a lower fee for transactions. 

Many banks also charge for teller services. Therefore, taking advantage of online services can often help a person to save money. Finally, credit card interest can be another area where people can make significant changes to save money. By taking advantage of low interest credit card offers, consumers can be sure that they are getting the best rates.

Eliminating Expenses 

In order to cut down on these small charges, a person will want to analyze their bank statements to discover where their money is going. Basic checking accounts include a monthly statement that can be either mailed to their house or viewed online. 

Paying attention to every purchase that is made is the key to successful finance management. By budgeting and spending carefully, a person can begin to take back control of their bank accounts. Eliminating small purchases that can be avoided is a great way to begin to improve one’s financial standing.

Disclaimer: This post is not written by me. I received a compensation in publishing this article on The Coffee Chic.


  1. Thanks for the reminders..Actually, I'm penny pinching lately because I spent too much this year :(. I've been controlling myself not to shop up until my bday this Nov. and for Christmas. Yay!

    1. I'm saving for Christmas! Hihihi Time to start making sacrifices. LOL

  2. Thanks for sharing, Algene. Hahay! I really need to bear in mind all these tips. Lagi nalang akong BROKE. LOL!

    1. I give advices but I also go broke.. most of the time. LOL


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