It’s about time we touched on the subject of your unnecessary spending habits… and how you can reduce them. There are so many things these days that require us to pay an arm and a leg for just to get the service, product or the apparel, but have you thought about an alternative?
Let’s put it this way – how much do you pay to run your cell phone: $50, $100 a month, more? Do you have Wi-Fi access most of the time? I want you to ask yourself why – why do you pay that much for a few extra gig of internet, or just to have the latest iPhone for example… I understand if it’s because you don’t have access to Wi-Fi at home or work, but if you do, why are you paying so much for a service that you’re only really using for social media when you’re out and about?
Smartphone: $100 per/m – $1200 per/y
Why not go on a smaller $40 plan, that way you’re saving $720 that can go towards so many other things!
What about the dreaded Netflix; do you have a subscription to watch every season of Orange Is The New Black or Arrow of whatever’s hooked you in? Or Spotify Premium, to get rid of those ads and be able to choose and play music wherever you like without internet? Or Foxtel/Pay TV – just to get the sports channel?
It’s time that you looked at what you’re paying for, just to get something that you can have now, rather than if you’re patient enough to wait for it, or source it from somewhere else for free.
Although you want to watch your show right here, right now, because you can’t possibly wait another week – why not set yourself a goal to achieve something, whether it be to accept another portfolio at work, go for a walk every night, or simply just putting away every $5 note that you have just to save money… Once you’ve achieved that goal, you can reward yourself by purchasin the whole season on DVD – then you can watch it whenever you want, or support the artist by buying their music, rather than paying to stream it. As for Foxtel – You can always use your home internet to YouTube, or LiveStream the sports that you want to see, there’s always these sorts of things available.
Breakdown: (varies over the world, Australian costs, minimum plan costs)
Netflix: $9.99 per/m – $119.99 per/y
Spotify: $11.99 per/m – $143.88 per/y
Foxtel: $39 per/m +$100 installation – $486 per/y +$100 installation (first month)… AND this price is for a special that’s on at the moment in Aus.
We’ve also thought about how much you spend on getting your hair or nails done, and how often you get them done. If you’re one to change hair colours ever month or two, ask yourself why? Not only are you damaging your hair (no matter how many treatments you use), but you’re also damaging your bank account. The same goes for those shellac nails girls – I know it feels and sounds so satisfying to tap on your phone screen and hear ‘that sound’ but again, the damage is huge!
Breakdown: This is extremely hard to price, especially haircuts, as they vary from salon to salon, let alone country to country… A (very) general breakdown has been done (Australian $$)
Haircut: Women: $50+ per/cut OR $120+ for a colour etc.
Men: Around $20 per/cut
Depending on how often you get your hair done will obviously determine how much you’ll pay p/y.
Manicure/pedicure: $25+ per/treatment – x6 times a year – $150
All of those little things add up, you have to learn to make them a less-frequent thing to do, make these sorts of things a reward for the goals that you set for yourself, not just something that you have for your entertainment, or that you do monthly just because you can.