The same story that repeats every month—salary notification pings on your phone, you planned the investments, dreamt of vacations, and your future goals. But as the month ended, you again felt broken. Your wallet starts feeling lighter, and your bank account feels lighter, and you’re left wondering where it all goes.
Well, the answer is your daily small payments that you made. From buying water bottles to paying for coffees and snacks – one small payment doesn’t break you instantly, but at the end of the month, you will feel bankrupt even if you haven’t made any huge payment.
My mom always used to tell me that every single rupee matters, but now I am realizing that after years of wasting my hard-earned money on useless activities.
Hidden expenses that we don’t even care about are the most traumatizing in the end. Just start keeping records of every single rupee that you spend daily. At the end of the month, you’ll realize how you could have saved if you were more mindful of your spending habits.
The daily cup of cappuccino, the delivery fees, and the undesired food you eat just because you were having a payment offer—it initially whispers, “It’s only a few rupees,” but at the end of the month, it will all come up as a significant amount of money that could have been saved or invested in something else.
Just imagine and calculate: a simple change in your spending habits could make a great difference in your financial savings over time. All the money wasted on useless things can be saved and earn some interest in your bank account. It might be a hundred in a day, but at the end of the month, it would be thousands, and in one year, it can be in lakhs. And the later you realize your mistake, you might have wasted a substantial amount of money that could have been put towards more meaningful investments or savings.
After analyzing all my spending habits and having conversations with my friends and colleagues, who are stuck in the same situation as me and you, I have understood some bad spending habits that we all should stop right now.
- Paid Coffee & Water Bottles
You might not be craving your favorite coffee anymore just because you’re drinking it daily. Enjoying the favorite cup of coffee at work often feels like a small treat, but it can add up to a significant expense over time. I’m not saying to stop yourself from rewarding yourself with your favorite coffee, but aim to have a maximum of one in 15–20 days, not daily.
And stop buying paid water bottles from the market when you can have it for free. Whenever you’re going out, carry a water bottle from home. Even if the price of a water bottle is very minimal, it can still add up over time and contribute to unnecessary expenses.
- Paid Subscriptions
If you’re using too many subscription apps that are set on autopay right after your salary gets credited, then it’s time to think that you’re not putting in good results towards achieving financial freedom in your life.
Having different subscriptions for different purposes, like Spotify Premium for music, Netflix, and Amazon Prime for entertainment, can quickly drain your monthly budget without you even realizing it.
So, cut down all those paid subscriptions, and start living your life without being dependent on constant monthly payments.
- Eating Outside Food Too Often
Eating outside food not only costs you for the food but also for the hospital. It might be the quickest, tastiest, and easiest option, but the restaurant bills, delivery fees, and service charges will add up over time.
It’s not just the wallet that suffers – but your health too. Eating outside food too regularly means more oil, sugar, and processed food than what your body actually requires.
Cooking at home will not only help you save money but will also allow you to control the ingredients and portion sizes for a healthy lifestyle. I’m not saying to stop eating outside food forever – treat yourself occasionally, not every day. It will give you control over your hard-earned money and your overall well-being.
- Upgrading Tech Too Fast
Technology upgrades too fast for you to even think, and companies also keep releasing new gadgets and products based on the latest technology. Therefore, it doesn’t mean that you should keep upgrading yourself on every latest release. Well, there are many people who upgrade their phones and laptops just because a new model comes out. Not because they really want to do so.
Their old device still might be scratchless and in excellent condition, but they feel social pressure to keep up with the latest trends. And these upgrades cost thousands and lakhs of rupees each time.
Just due to hype and peer pressure, don’t upgrade your mobile or laptop unless and until you require it to be more efficient or productive in your daily tasks.
- Ignoring Quality for a Lower Price
Occasionally, I used to buy clothes and shoes at a lower price during a sale. But that’s not wrong.
The mistake I made was to ignore quality over price. I bought a few shirts, which cost me less than 500 rupees each in the festive season, thinking I got the best deals. But believe me, that’s the most significant mistake I’ve ever made. After 4-5 times of wearing, each shirt starts losing its shape, and I wasn’t able to wear it for a long time.
Later on, I bought a high-quality shirt for 2000 INR, and that one still looks branded and new, even though I have worn it more than 20 times. This teaches me a lesson that sometimes it’s worth investing a little more for better quality in the long run.
Conclusion
Knowing the unwanted expenses that are literally draining your wallet and savings is crucial for financial stability and freedom. It’s important to cut down on unwanted expenses that make you bankrupt at the end of every month. Spend smartly on what you truly want. If something makes you feel good, then spend on it, but make sure that it is a wise investment that will last. Don’t just say yes to everything you wish for, and be mindful of your expenses and make intentional choices that will help you achieve financial sustainability and freedom.