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Stop These Six Bad Money Habits and Save More Money

By Robyn Parets
March 18, 2019

It’s hard to resist meeting up with friends after work for drinks, or buying that new pair of shoes right after you get paid.

But, if you want to save more money, you may have to do something to curb your spending habits. For example, do you buy a sandwich five days a week at the local bodega next to your office? Do you grab a latte every day on your way to work? Indeed, these purchases add up – fast.

Here are six habits you can easily change in order to save more money.

1. Buying coffee every day

Did you know that buying coffee Monday through Friday – especially cappuccinos and other fancy coffee drinks – can run you $25 a week or more? That’s more than $100 a month and $1,300 a year!

Instead, try brewing coffee at home and taking it with you to work. If you don’t have a coffee maker at home, purchase one on sale. Heck, you can even splurge on a fancy Nespresso machine. I bought one on sale for $199 last Christmas and absolutely love it. Yes, it was expensive. But, I now make my own lattes at home every day instead of spending five dollars a day for these drinks (yes, that’s $35 a week!)

Think of it this way: Less than six weeks of coffee runs paid for that fancy machine, which included a starter pack of 24 coffee pods. Each pod now costs around 90 cents. This leaves $4.10 a day on the table – or almost $1,500 a year to put into a bank account.

2. Purchasing lunch at work

Buying lunch every day while you’re at work will run you a pretty penny. According to CNBC, if you eat lunch out, you’ll spend an average of $10 per lunch, or about $2,500 a year.

Yet, if you make your own lunch, you’ll spend only about five to six dollars per lunch, leaving you with an extra $20-$25 a week or $1,000-$1,300 that could go into your savings account.

3. Paying full price

We get it: Not everyone likes to shop for deals or make use of those reams of CVS coupons like I do. But, you don’t have to be an expert coupon clipper to make a few small money-saving moves.

For starters, you can use shopping apps that will give you coupons, provide you with cash back or find you the best deals. Some top apps in this category include Honey, Ebates, Ibotta, and RetailMeNot.

Looking for local restaurants, activities or even a new gym? Before plunking down full price, search for neighborhood businesses on Groupon. For example, I wanted to try barre classes but I also know that boutique barre studios are expensive. So, I purchased a 10-class pass for about $79 on Groupon (or less than eight bucks a class) to a popular barre franchise. I used those classes but also discovered that I would prefer cardio classes to barre. That was a good thing as the regular price for a 10-class pack is $230! All told, using Groupon meant I saved $151.

4. Not sticking to your budget

A budget helps you stop overspending and get ahead financially.

If you haven’t created a budget yet, now is the time to do so. And, if you have a budget and still overspend, now is the time to buckle down. Why? Because if you don’t stick to your budget, it’s difficult to reach your financial goals and save money.

For example, if your budget only allows for $100 a month of “fun money” and you spend $200, that extra money has got to come from somewhere. It may mean you’re not paying off as much of your credit card debt, or you’re not saving $100 a month. Instead, commit to staying within your budget and perhaps figuring out ways to earn a bit more money each month. For instance, you can start a side hustle like driving for Uber or Lyft, walking dogs, or even teaching Pretzel Kids yoga classes.

Pick something that you can do around your schedule with little to no start-up costs. Most importantly, remember that you’ve got to live within your means if you’re going to save money.

5. Overspending on credit cards

It’s easy to spend too much with credit cards, yet this can cause you to go into debt and lead to a never-ending cycle of racking up interest. This, in turn, makes it hard to save money as any extra money you have may be going toward paying down high credit card balances.

To avoid this, try taking a break from your credit cards. Instead, use your debit card or cash. This way you’ll be more likely to buy things you can afford. Better yet, if you’re a Chime member, you can save when you spend by using your Chime Visa Debit Card. Each time you make a purchase, Chime will round up the transaction to the nearest dollar and deposit this extra change into your Chime Savings Account.

6. Not automating

Automating is our No. 1 money-saving hack. Chime helps you do this by rounding up your debit purchases. But did you also know that you can automatically save money with every paycheck?

This hack helps you save as you won’t have to manually transfer money to your savings on your own. Better yet, you won’t blow that cash on the day you get paid on a purchase you’ll later regret. Chime members, for example, can automatically save a percentagee of each paycheck into their Savings Account. This way your hard-earned money hits your savings automatically. Out of sight, out of mind.

Are you ready to save more money?

Even if saving money is a struggle, there are ways you can start saving right now, simply by changing a few habits. For starters, try brewing coffee and making lunches at home, shopping for deals, and sticking to your budget. From there you can take a break from your credit cards and use your debit card or cash instead. Lastly, make savings automatic.

If you follow these six simple tips, you’ll be on your way to changing your financial habits and saving more money. Are you ready to give it a try?


This guide is for informational purposes only. Chime does not provide financial, legal, or tax advice. You should check with your legal, financial, or tax advisor for advice specific to your situation. Your state or local unemployment agency is responsible for making all determinations on your eligibility for unemployment benefits. Please contact your state or local unemployment agency if you have questions.

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