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Start Small to Save Big - Easy Saving Solutionss

When looking for ways to save money, we often focus on the big things and completely overlook the small expenses that add up over time to eat away at potential savings. For example, paying a dollar and change for a bottle of water might seem insignificant, but doing it every day for a year can really make a dent into your savings plan. The key is to start thinking of the long-term impact of your choices rather than short-term gratification of buying something you want in the moment. 

Here is a breakdown of some everyday purchases and the long-term impact they can have on your financial health along with alternative saving solutions. Calculations are based on U.S. national average price and a five-day work week. 

  • Bottle of Water

    *   Average Price: $1.45
    
    • Per Week: $7.25
    • Per Month: $36.25
    • Per year: $435

Saving Solution:  Buy a case of bottled water from the warehouse club, which works out to a much cheaper per unit price. Better yet, get a refillable water bottle and fill it with filtered water as many times as you want. Many bottled waters are simply filtered municipal water anyway, so there is really no reason to pay extra for it. It is better for your wallet (and the environment, too). 

  • Coffeehouse Coffee

    *   Average Price: $3
    
    • Per Week: $15
    • Per Month: $60
    • Per Year: $720

Saving Solution: Make your coffee at home and take it in with you in an insulated travel mug. Even if you splurge on exotic beans, you will still save a bundle over buying from a coffeehouse. Better yet, embrace the free coffee offered at your office (if available) and bring in your own flavored creamer. 

  • Buying Lunch

    *   Average Price: $10
    
    • Per Week: $50
    • Per Month: $200
    • Per Year: $720

Saving Solution: Yikes! Do you really want to spend more than $2000 a year eating forgettable meals? Making your own lunch is not only cheaper, it is likely healthier, too. Beat boredom by trying new and interesting recipes, or cooking dinners with the intent of taking the leftovers for lunch. Use the money you save on lunch to take vacations instead. 

  • Happy Hour

    *   Average Price: $20
    
    • Per Week: $20
    • Per Month: $80
    • Per Year: $960

Saving Solution: It is always fun to let loose with coworkers after a hard week, but you do not have to hit the bar to do it. Invite people over for a BYOB happy hour and ask everyone to bring a snack or appetizer. Rotate houses to share hosting duties. 

Of course, there will be days where you don t feel like making lunch, or leaving your freshly made coffee sitting on the counter as you leave the house in a mad rush. Life happens. It is unrealistic to expect that yo will never need or want to spend money on purchases. The goal is to think before you spend, rather than getting to the end of the week and wondering why your wallet is empty and you have nothing tangible to show for it. 

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