Adult life is hard, especially keeping track of money. Where does it go every month? As soon as you get paid, it feels as though it disappears in the blink of an eye. You’re left struggling to get to the next payday and wondering how it happened again.
While some people are more cost-savvy than others, everyone goes through phases of wondering where their money went. But, if you’re routinely left baffled at your bank balance, here’s where your money is probably going.
If you’re someone who likes to budget yet are still confused by your finances, your money may be going on unplanned costs. Have you had a few health problems and had to pay unexpected health fees? Or is your car on its last legs and constantly needing costly repairs? Or perhaps you’ve been involved in a legal issue and had to pay lawyer fees (you may benefit from some info on lawsuit loan – click the link). If this is the case, you may need to adjust your budget and plan for unexpected costs. This way, you’ll keep better track of your money and spend accordingly.
Bills. Your gym membership. That Disney Plus account you never use. Direct debits can be pesky. If you have a high number of direct debits that come out on different days, you can be left confused about your rapidly diminishing bank balance. You might struggle to pay for the ones that fall right before payday. The way to tackle direct debits is to put them into your calendar with reminders. This means that you stop seeing them as unexpected costs and factor them into your budget. Never again will you wonder where that ten dollars went.
Unless you walk to work, traveling to work is always going to cost money. The price of fuel can put great dents in your bank account, and public transport isn’t as cheap as it should be, considering the smell. Often, when we commute to work, we forget about the regular cost. It might not be something you remember to factor into your budget. But you must. If you constantly forget to budget for the subway, consider getting a travel card and paying per month or year. There are plenty of options to choose from.
Even the most financially savvy person forgets how expensive meals out can be. It’s often the quickest way to say goodbye to your money. Even a cheap fast food joint is pricier than cooking a meal with whatever you’ve got in the fridge. And then there’s tipping. Try to cut back and set a restriction on the number of meals out you’re allowed per week. Your bank balance – and gut – will thank you for it.