The Money Saved by Giving up Bad Habits

Are you looking for an easy way to save money? One of the easiest ways to save money is to simply give up a bad habit. OK, simply might be too easy a word, but you can save money the fastest by giving up a bad habit. Whether it be smoking, drinking or playing the lotto, it can be your fastest way to save money by dropping one of those habits. The money saved should be a good motivator to quit.

The worst part about your bad habits is that you don’t even know what you are spending at times. You might think that you are spending maybe 50 bucks a month when you might be spending that a day. If you have a gambling habit, you can easily spend more than you imagine. Say you play ten tickets a day for a week. That is at least 70 dollars a week even if they are all one dollar tickets. If they are more than that, you are spending as much as 700 dollars a week! Cutting that out is a huge savings.

If you are a smoker, you could be paying as much as eight dollars a pack. Even one pack a day then would add up to 56 dollars a week. That equals over 220 dollars a month. Quitting smoking can not only save your life, but save you quite a bit of money as well. The more you smoke, the more you will save by quitting smoking. 

For those who like to go out after work, you could save a ton of money by cutting back as well. A couple of drinks at a bar, or even a restaurant, could run you as much as 20 dollars depending on where you live. Combine that with any food you might get and you could easily be spending 50 dollars a night. Going out just once a week would cost you 200 dollars a month. Cutting out that trip to the restaurant or bar each week could save you the amount of your car payment.

If you happen to have all three of those habits, you could save at least 700 dollars a month in a conservative figure. The more sustained your habit is, the more you can save by cutting them out. However, keep in mind that your habits don’t have to be just smoking or drinking. Maybe you have a bad shopping habit, or you drink way too much soda or eat too much meat. Any bad habit can be expensive.

Bad habits can be hard to drop, but it is hard to argue with the savings that can come with dropping them. Those of you who are lacking for money might be tempted to trade that lotto ticket for a deposit slip at the bank. These aren’t just some nominal figures here, this could mean real savings if you are able to get your habits under control.