Top 10 Budget Drains, a Yahoo Article

Here’s a list of the top 10 drains on your budget. Maybe it’ll help

some of you out, on identifying where you can trim your budget a

bit!!

https://finance.yahoo.com/banking-budgeting/article/103379/Top-10-

Money-Drains

It’s easy to fritter away money on daily expenses. If you fall into

these money traps, learn to avoid them and pocket the savings.

1. Coffee 6. Car washes

2. Cigarettes 7. Weekday lunches out

3. Alcohol 8. Vending machines snacks

4. Bottled water 9. Interest charges on credit cards

5. Manicures 10. Unused memberships

1. Coffee — According to the National Coffee Association, the

average price for brewed coffee is $1.38. There are roughly 260

weekdays per year, so buying one coffee every weekday morning costs

almost $360 per year.

2. Cigarettes — The Campaign for Tobacco Free Kids reports that the

average price for a pack of cigarettes in the United States is

$4.54. Pack-a-day smokers fork out $1,660 a year. Weekend smoker?

Buying a pack once a week adds up, too: $236.

3. Alcohol — Drink prices vary based on the location. But assuming

an average of $5 per beer including tip, buying two beers per day

adds up to $3,650 per year. Figure twice that for two mixed drinks a

day at the local bar. That’s not chump change.

4. Bottled water from convenience stores — A 20-ounce bottle of

Aquafina bottled water costs about $1. One bottle of water per day

costs $365 per year. It costs the environment plenty, too.

5. Manicures — The Day Spa Magazine Price Survey of 2004 found that

the average cost of a manicure is $20.53. A weekly manicure sets you

back about $1,068 per year.

6. Car washes — The average cost for a basic auto detailing package

is $58, according to Costhelper.com. The tab for getting your car

detailed every two months: $348 per year.

7. Weekday lunches out — $9 will generally cover a decent lunch

most work days. If you buy rather than pack a lunch five days a week

for one year, you shell out about $2,350 a year.

8. Vending machines snacks — The average vending machine snack

costs $1. Buy a pack of cookies every afternoon at work and pay $260

per year.

9. Interest charges on credit card bills — According to a survey

released at the end of May 2007, the median amount of credit card

debt carried by Americans is $6,600. Rate tables on Bankrate.com

indicate that fixed interest rates on a standard card average 13.44

percent. Making the minimum payment each month, it will take 250

months (almost 21 years) to pay off the debt and cost $4,868 in

interest. Ouch!

10. Unused memberships — Costhelper.com reports that the monthly

service fee at gyms averages between $35 and $40. At $40 per month,

an unused gym membership runs $480 per year.

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