Top 10 Budget Drains, a Yahoo Article

Budget101 Discussion List Archives Budget101 Discussion List Top 10 Budget Drains, a Yahoo Article

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      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



      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 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

      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 — 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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Budget101 Discussion List Archives Budget101 Discussion List Top 10 Budget Drains, a Yahoo Article