Budget Tip: Cutting Bad Habits Can Help You Stay on Budget

If you are looking for a solid budget tip, consider cutting back on bad habits. If you can cut back on some of your bad habits, you could potentially save a substantial amount of money. Here are a few things to consider about cutting out your bad habits and saving money.

Bad Habits

Many individuals form bad habits on a regular basis. For example, they will get in the habit of purchasing cigarettes every day or getting a six pack of beer a few times per week. Although these things can be enjoyable, they can really cost you a lot of money in the long run.

Example

To illustrate how much money you are throwing away, let's look at the numbers. Let's say that you purchase a six pack of beer two times a week and the beer costs $8. This means that over the course of a year, you are throwing away $832. If you do that for the next 40 years, you are going to spend $33,280 on alcohol.

If you get in the habit of smoking, things can really start to add up. Let's say that you spend $5 on a pack of cigarettes everyday. That adds up to $1825 per year or $73,000 over the next 40 years.

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