Take out all the extras

cost_of_bottled_waterWe often complain about how much money we need; how we never have enough, how we just need to make a bit more. I guess that’s human nature right? Never happy with what we already have. All this complaining about money yet we go out to eat, we grab drinks with friends, we pay for a gym membership that we never use. These are all little extras that we can easily remove from our lives, and save a ton of money. On my post last week, I talked about my financial goals for the rest of the year and how I’m going to achieve them and today I found this awesome infographic from http://www.schwabmoneywise.com on how much all the little things end up costing us.

Here are the things we decide to cut back on and how much we’re going to save by doing so.

Gym Membership

As you can see from the infographic, the average amount wasted on gym memberships are $468 a year. That may not seem like a lot, but for a lot of people that’s a month of groceries, or a few months of gas. Or better yet, a payment on your credit card debt. Mr. CrazyRichLife and I decided to both cut out our gym memberships. We have some workout DVDs at home and we decided to get some home weights, plus, we have the whole outdoors for running/walking. Yeah I’ll miss the pool, the sauna, the jacuzzi and the steam room, but I only use them once a month or so and that is not worth my $34 membership. By cutting out both of our gym memberships we’ll be saving $86 per month or $1032 for the whole year. That’s the price of our new living room set.

Bottled Water

I had mentioned this last week and it’s definitely not a big expense for us, but hey it adds up right? At this point we spend around $8 a month on water bottles, that’s two packs of 40 water bottles at Sam’s Club. $8 a month is not bad right, well that $8 a month will end up saving us $96 over the course of one year. Nothing major, but you add that up over 50 years and not only have we saved $4800 but we’ve saved about 48,000 water bottles as well. I still won’t drink tap just cause Florida water is gross, but we have a Brita so we’ll use that.

We gotta eat

But we don’t have to eat out. Mr. CrazyRichLife and I have been pretty good about this lately, but it wasn’t always that way. He works 3 days a week and on one of those days his coworker brings food so he eats at work; that only leaves 2 days a week to pack him lunch. As for me, I have my five days a week. It’s surprisingly hard to pack lunch everyday especially when we don’t have leftovers. Lucky for us, we’ve been forcing ourselves to have leftover, which helps the lunch situation a lot. It also helps us not eat out for dinner, the most expensive meal. This never really made sense to me. Restaurants charge more for the same food. Yeah some will give you bigger portions, but it should be the opposite. No wonder I can’t lose weight. Instead of having dinner be the smallest meal, it’s become the largest. But that’s a whole nother story. Anyway, by brown bagging it and having dinner at home, we’ll save approximately $4200 a year.

I’m sure there’s a lot more that we can cut out, like unnecessary shopping, video games, getting a lower internet speed, but for the time being, I think that we’re doing pretty good. By cutting out our gym memberships, our bottled waters and our awful eating out habit we’ll save $5,328.00. Not bad huh?

How much can you save over the course of a year by cutting out some, or even all, of your extras?

Also check out the rest of the infographic from http://www.schwabmoneywise.com



5 thoughts on “Take out all the extras

  1. I’ve trimmed down my budget quite a bit over the years. The one splurge I do have is on my hair. I spend ~$200 every 3 months or so to get my hair coloured and cut. I LOVE it. haha. If I needed to, I would cut this out and go back to getting my hair cut and coloured for free through hair modelling and esthetics schools.

    • Yeah I have to say that splurging on my hair is not going away any time soon. I’ve tried going to places that are cheaper and they did an awful job so the extra bit of money there is definitely worth it. You get what you pay for.

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