#5 Spending too much on supposed “emergencies”
Let’s be honest; in this consumerist and commercial society, the word “emergency” has lost its meaning sometimes. Of course, anything relating to medical bills, unexpected house or car problems, or even a layoff are definitely emergency expenses that you cannot and shouldn’t ignore! It’s normal to dip into your funds for those.
However, that really big sale for something you might like is not the emergency that marketing strategies make many of us think it is. There is a lot of these impulse buys that are presented as being needs (and urgent ones at that) when they are actually just wants. Just because the item is on sale doesn’t mean you need it now, and it definitely isn’t an emergency expense.
Don’t dip into your savings unless it’s a real emergency!
#6 Dining out too often: even when you’re theoretically inside
This is one of the expenses that not a lot of people take into consideration when they definitely should. And it’s not related only to physically going out to dine either, as many assume!
You can make two mistakes in one if you’re used to dining out too often every month: not only might you spend hundreds of dollars on groceries that you may end up not eating in the end, but you are also paying for restaurant food too.
If you made ordering food for dinner or lunch something that’s part of your routine, then you should not be surprised that your budget is restricted and you cannot put aside as much money as you would want! Dining out or ordering in, racks up to a pretty big sum if you rely on it, and if being frugal and saving money is high on your list, you should definitely restrict it as much as you can.
We’re not saying to never do it, but rather make it an occasional treat or save it for special occasions!
And if you’re wondering about how you can travel comfortably but not blow out your savings, check our tips here!
