#1 Not taking housing costs seriously
Before you commit to a new lease or even to buying a new property, make sure you’re putting down every expense you’re going to encounter. You may believe that you can handle everything, but a few years down the line, the mortgage may morph into something that will burden you rather than just be routine.
You should also take into consideration the situation we are in: with how volatile everything is and how inflation can hit us at any time, the prices you are used to seeing today may change in a few years, if not months! Before you commit to any big expense, do all your calculations. That way, you’ll be covered no matter what!
#2 Surprising expense: groceries… too many of them
You wouldn’t think that the extra expenses that drain your budget would be your groceries, but many American families actually struggle to shop for groceries without making the occasional impulse buy. And we all know just how easy it is to go to the store intending to get just the essentials and leave with an extra $50 on the receipt.
This is why, if you’re wondering why your expenses are so high, you should look at your grocery bills. Maybe you see a pattern, and you start to shop more consciously, or you try to find better deals for your everyday items! This means either committing to a meal plan, which will limit you to only buying what you need, or planning your entire grocery list ahead of time and relying on your personal discipline to avoid being swayed by food deals or cravings.
Remember! Never go food shopping when you’re hungry!
