When you go on a big shopping spree, it’s easy to tell that you’ve spent a lot of moola. Mostly because of the bags and the red minus sign in the bank account. When we go on little sprees here and there it doesn’t seem like that big of a deal. $10 a day is $300 a month. Which is the same, only different, as spending $300 one day a month. Only when we spend in a lump sum we’re hit automatically with the consequences of our frivolous actions. Of course, not all shopping sprees are frivolously, but unless that purchase was thought out, calculated, and not spur of the moment – then it’s frivolous. When we spend a bit here and there we don’t realize our actions until the credit card statement comes out and we go, “oh s#!t”.
So; my challenge to you to bring peace of mind to your pocket is this: go as many days as you can without spending any money. Whether it be cash, debit, or credit – don’t touch it. Pick one day a week where you get your necessities and leave it at that. Seems pretty straightforward sure, but see how long you last and you’ll understand why it’s important to count your days as much as your coins.
I can hear you say it now because I’m thinking the same thing. What about my daily coffee or take out lunches? I enjoy Starbucks way more than Tim Hortons and so I will absolutely splurge. But let me tell you a secret, they sell coffee on the shelves as well. A bag of Starbucks coffee will run you about $12 depending on type of roast and choice of sale, but that’s still less than two of the lattes I prefer. Let’s add in disposable cups and $4 for a pack of 12. Let’s also assume that a half pound of coffee last you one week and you have coffee to go for five days a week. (Weekends are a free-for-all in my house when it comes to coffee). Let’s add a $5 bottle of coffee creamer and or sugar depending on what you are into, I don’t judge. Now we are looking at $33 for two weeks of coffee. Or $16.50 per week. Let’s be fair and say you don’t need espresso like I do and estimate your daily coffee run is $5 per day which puts you at $60 for two weeks of caffeine. So by preparing coffee at home, we’ve saved $30 or $60 a month and we’ve limited our spending to once a week when we grocery shop. With $60 a month in savings you can bank $720 a year. Put that into a higher yielding interest account and you’ll be better off than when you started.
Eating a decent lunch when you’re working full-time is by far one of the biggest hurdles. In my opinion, at least. If you are self-employed or on the clock, when you go out for lunch you have to stop working which reduces billable hours. You also then have to spend money which reduces, well, money. Going to grab a bite to eat is never quick and so you’ll be inhaling your food in the 3 minutes you have left of your allotted 30 minute break, which leaves no time for actual breaking. Since we are now programmed to be working 24/7 it’s important to stop and take a break when we can. Besides providing fuel for our bodies. You don’t drive a car for 12 hours a day and only stop to fuel up. You check all the components and ensure you are safe to proceed on the road. So when we bring a bagged lunch we have an option to eat while we work and still get 20 minutes or so to ourselves. Not to mention, if you work on the go it can be even harder to stop for lunch. We sometimes think it’s quicker to pick up a burger than it is to have made a sandwich the night before.
So here’s the deal, one loaf of bread is $5 which is a considerable amount, but depends on the kind of bread you like. I like country harvest, but I buy it when it’s on sale for $1.97 and I stock up. If you freeze bread make sure it’s air tight and bring it out the night before you want to use it so you don’t end up with unfrozen freezer burn. A package of deli meat is $10 as is a package of deli cheese. A bag of romaine lettuce is $5 and a pack of tomatoes is $4. Plus a jar of mayo, if you’ll be putting it in the fridge, is $5 (but lasts as long as it takes you to eat it) or a brick of butter is $5 (same length of time in the fridge as the mayo). If you are feeding only yourself then one load of bread is more than enough. This is assuming you’ll eat the ends because on a budget why wouldn’t you. So let’s say $29 for all the ingredients plus $5 every so often for butter or another type of sauce. We’ll round up and say $30 a week for homemade lunch. Less than $5 a day for the main meal plus add in another $5 for your snack. A package of strawberries in medium variety can last me a week easily. I also enjoy hard boiled eggs as a snack either in the morning or in the afternoon. By bringing a lunch and not going out you will increase productivity as well as the funds in your pocket. It gets boring after a while so switch up the deli meat and cheese for chicken salad, or only veggies. This will dramatically reduce your spending as most take-out meals are between $10-20 depending on where you live and what you’re getting. $50-100 a week on lunches gets pretty old, pretty quick.
We can plan a week of eating and no spending and see improvements in our daily lives.
So challenge accepted, I presume. After reading this, you must be ready to try and refrain from spending any more money this week. Besides auto-debit bills and any incidentals, of course life happens. See how you feel and see how your pocket feels. Hopefully a bit heavier.
If you find it difficult or stressful then it’s time to look at that part of your ego that is being fulfilled by spending money on nonessential items. We we give ourselves only what we need we are able to see ourselves fully. When we cloud that with 50% off sales and buy two get one deals, we often miss the big picture. And it’s in that image of ourselves that we can obtain for our pocket and our souls, some peace of mind.
Pocket Peace of Mind 