For most of us, 2020 has involved staying indoors and enjoying the convenience of online streaming services and food delivered to your door. But have you considered the real cost of convenience? These conveniences are quite expensive. Now is a great time to look at the comforts that you can go without and make your budget go that little bit further. Keep reading for some advice on how to limit your spending on conveniences.
Entertainment has become one of the costliest conveniences nowadays. People are often subscribed to multiple entertainment services. Unfortunately, these use automated payment schedules, and people often forget about their subscriptions. It is an excellent idea to do an audit of your subscription services, looking back through your bank account to see what you have paid for over the past few months. Chances are, there are services that you haven’t used in a while that can be cancelled or paused.
How often are you using rideshare services such as Uber? For some people, it may be the only option, but it is often a choice made from convenience to save time and energy. You can save significantly by using public transport or walking/cycling where possible. Look into downloading an app on your phone to make it easier to find public transportation in your area.
Food and Drink
Food and drink are one of the most significant conveniences that we all indulge in. It is very tempting to grab a takeaway coffee each morning and order in for dinner because you’ve had a busy day at work. Instead of turning to food delivery services, it helps to keep healthy snacks on hand and plan your meals, so you have everything on hand and prepared. Think about preparing meals on the weekend and popping them in the freezer to heat up during the week. By swapping out just one food delivery a week, you could save up to $2000 a year!
We are always seeking convenience, wanting to save time or get somewhere faster. It is important to evaluate the cost of convenience and the long-term effect this can have on your financial situation. A few small changes can have a significant impact on your budget.
If you want to stay on top of your finances, talk to the team at The Farm Protectors today.