You might have been able to afford those guilty pleasures and vices when the economy was up. But given the continuing financial crisis, have you ever thought about how much these “activities” are really costing you. If you’re struggling with credit card debt but still smoke two packs a day, you might want to reconsider your budget.
Here’s a sample costing of some of the common but probably unnecessary expenses you might incur during the day:
1 pack of cigarettes – $4
1 cup of coffee – $1
1 takeout for lunch or dinner – $12
1 can of beer – $0.65
Total: $17.65
That’s $17.65 a day that you spend on things you can probably do without. In the course of the month, (let’s say that these expenses just occur during weekdays), that’s already $388.30 ($17.65 x 22). . And for most smokers, a pack is a bare minimum. So is a cup of coffee for most caffeine addicts. This total can definitely be substantially more.
Now take a look at your credit card’s statement of account. How much debt are your still packing? How much interest are you being charged on a monthly basis for not being able to pay it off? This just shows you how your unpaid debt and your vices are milking you dry.
The interest on debt alone is costing you money that you don’t have and your vices are costing you the money that you do have. So why not make the most out of the money that you do have and re-channel that to servicing your debt.
[...] already discussed the impact of vices on finances before, so you might want to reconsider changing your lifestyle a [...]