Have you ever heard the saying “Don’t sweat the small stuff?” I’m sure it holds true for many areas of our lives, but when it comes to budgeting, I say, sweat the small stuff! A sound budget can easily be unraveled by small, everyday purchases without us even realizing. For example, think about an innocent cup of coffee is one $1.50 cup of coffee going to ruin your monthly budget? Probably not. But, if you make a daily habit of it, that $1.50 cup of coffee can turn into a $45 monthly expense! Ouch! And, if you add in a candy bar and soda at the convenience store while you’re getting gas, lunch out with colleagues or a new app to help you pass the time, it’s plain to see how a how quickly this spending can add up.
If you find yourself in this position, I would first recommend tracking your spending to figure out where your money is really going. For some, this may really be eye opening, as you may not think you’re spending as much as you are on certain items. Once you’ve determined your spending habits, see if it’s possible to reduce or eliminate some of these small expenses maybe it’s as simple as making coffee at home, packing a lunch or borrowing a library book for some entertainment. If you think you may need some additional assistance with your budget, contact Clearpoint Credit Counseling Solutions we’re here to help!