If your financial picture is lacking clarity and you can’t quite figure out why your bank account is short every week and where the money went, look at the people and places in your life. Sometimes, the people and places unknowingly influence us to spend extra money. Simply changing the people we spend time with or how much time we spend with the people in our lives can have a huge impact on our finances. Without realizing it, friends, family and co-workers can have an influence on how we spend and save.
We have all had friends who constantly go out to expensive restaurants. When you are at an expensive restaurant, everything is expensive, including the appetizers, drinks, side dishes and the expected tip. Even the least expensive menu items cost much more than you want to spend.
I absolutely can not go out to eat with them and stay on a budget. Sometimes, when out to dinner with friends, I would order a small appetizer and one drink only to be told at the end of the evening that everyone would be splitting the bill equally and I would be pressured to pay much more than my portion of the bill. Therefore, I began declining certain dinner invitations and opting to meet up with people after dinner or for other activities which greatly decreased my dining expenditures.
Similarly, the places you frequent can wreak havoc on your budget. Some grocery stores may be more convenient but have more expensive items. The convenience of grabbing snacks and drinks at a mini mart rather than a grocery store will usually cost you more money. Finding economical stores and spending a little time planning and shopping for the week can help you save money.
Local bars, restaurants, events centers or gaming venues may be convenient and fun, but they may also cause you to spend much more money than you realize in an evening.
Evaluate the places you visit, how much money you spend and consider changing the places or at least how often you frequent them to improve your financial picture.
What types of places do you find yourself spending more than you anticipated and what are some less expensive alternatives?
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