Starbucks Isn’t the Problem: My 5 Tips on How to Save Money Each Week
Over the years, Starbucks has received a bad rap for being “too expensive.”
Think about this: How many articles have you read that feature what else you could buy if you gave up your daily latte?
Honestly, what made me think about this was a recent conversation I had with my daughter. She was explaining to me that if she gave up 5 Starbucks runs within so many weeks, she would compensate for the spending splurge she did over Black Friday.
At first, I did not think anything of that conversation… but after pondering her statement a bit more, I called her again to explain for about an hour how she thinks she can actually save money WHILE KEEPING her Starbucks drink (which I know she is overly fond of).
What I realized through this was there are countless habits and ways individuals can boost their finances without giving up something like Starbucks.
Multiple other outlets have much more significant hindrances on your wallet than the cup of joe that brings you joy, which is something we all need especially during the holidays.
This is why I’m bringing you my 5 top saving tips so that you can keep drinking your mocha, salted caramel, Frappuccino, or whatever your favorite drink is, and still save some pocket change.
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Say “NO” 1:00 a.m. to 3:00 a.m. Buys
You’ve probably done scrolling through your phone in the early hours of morning when you can no longer sleep. I’ve also done that several times in the past!
I’m also quite certain that some of the posts you find on your social media feed are product recommendations. Whether it’s a post from Amazon, Target, eBay, or any other app, there will always be ads that suggest products to buy.
The danger?
It’s when you can’t control your urges to check out those products even when you don’t actually need them.
Trust me, you DON’T need to buy that new gadget or any other things just to keep up with the latest trends, and especially during very early in the morning!
If you’ve read my other past articles, you’ll know that I’m passionate about getting enough sleep, and the number 1 tip I always give to people wanting to improve their sleeping habits is to avoid having their phones beside them.
Instead, strengthen your sleep and wallet by creating a no-phone-on-or-beside-the-bed rule. Your health and wealth will thank you later.
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Stick to a Meal Plan
Ordering a meal through Uber Eats, Doordash, or Grubhub became easy during the pandemic. At the same time, the health crisis trained us to rely on these apps to ease our hunger pains or “hangry” (hungry + angry) moments.
The thing is, not only does this instant gratification cause us to waste groceries we just bought, but the delivery fees, taxes, and tips can also add up to the fees, causing us to pay more.
That’s why it’s crucial to plan your meals and stick to them. With food costs being over 13% higher now compared to last year, meal prepping can help you save an exceeding amount of cash.
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Track Your App Subscriptions
Some of us have app subscriptions on our televisions, computers, or phones… and sometimes, we don’t care about how much they cost; we simply connect those billings to our credit or debit cards so they’ll be automatically charged per month.
It’s now time to change that habit and do an inventory check. You can do these manually or by using apps that help you manage these billings. However, take note that while such apps are helpful, some of them will charge you with fees once you upgrade them or exceed their free trial.
I recommend going through your bank statements one by one and canceling the subscriptions you no longer need. Yes, it may take more time, but it will be worthwhile.
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List Your Monthly Expenses
I’m not just talking about house or apartment rent, estimated gas use, electricity, and other utilities here. I’m also talking about any purchase or fees over 100 that you know you will make on a monthly or quarterly basis.
These include gym memberships, wellness treatments, doctor appointments, vet appointments, etc.
Once you’ve listed all these along with their estimated costs, compare them to your monthly income. From here, you can remove some of these expenses from the list, write down the extra funds you have for eating out or shopping, and note how much you want to place into your savings account.
By doing this, you not only know what you spend, but you can also plan for how much you want to save per month or quarter.
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Set Healthy Challenges
My last tip for you is to set good and attainable goals or challenges.
I always think it’s a great idea to challenge yourself and see what you’re capable of. For instance: Maybe for one month, you commit to eating out only once a week… or instead of denying yourself something, you choose to put up a garage sale for some things you no longer need or better yet, donate them.
Challenging yourself can genuinely transform your habits, finances, and your outlook on life. So, create space for new things, disciplines, and learnings!
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Overall, many things can hinder your finances more than Starbucks.
Besides, during the holidays, it’s easy to get stressed out about spending. However, believe me when I say that if you apply all, or at least one, of my tips above, you’ll feel more financially secure and even happy for yourself.
Another upside?
You can still treat yourself to your favorite coffee.
I hope you find my money-savings tips helpful and insightful!
Happy holidays, everyone!
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