Penny Pinching: Focusing on the little makes big difference financially

You might be of the opinion that you rarely buy yourself anything, spend money wisely and have a firm handle on your finances.
If that’s the case, why is most of you money slipping through your fingers?
That dwindling bank account, the inability to save money and living pay check to paycheck puts a bit of a damper on previous beliefs that your financial acumen is impeccable.
Turns out, you might be saving money and losing it at the same time.
This art form isn’t impossible, but rather quite common if you take a closer look at your spending.
Take your food shopping for instance.
You make look at this excursion with pinpoint accuracy to make sure you’re purchasing generic brands, shopping smart with online or paper coupons and calculating whether you should be buying in bulk or if less is best.
Those are absolutely wonderful strategies to employ and probably will lead to extra money available in your budget, but only if you’re equally mindful of spending money eating out at restaurants. Let’s say you spend $200 per week on food for the house, which is about $800 every month. That number hardly stands as staggering, unless you’re not only buying food twice.
If you eat lunch and dinner four times per week at a restaurant, that’s about $20 extra dollars per day or $80 each week. That’s another $320 added to your food budget, making your total nearly $1200 per month.
Your specificity and tactical approach to grocery store shopping doesn’t look quite like the impervious game plan you once perceived it to be.
Similarly, if you downgraded your pricey cell phone plan in favor of dropping the smart phone and two year agreement for a pay by month option, you deserve plenty of praise for your ability to live without the luxury of having Facebook on your phone. That is a perfect example of eliminating expenses that make a true difference in how you’re able to save.
Leaving that $200 plus monthly cell phone bill intact and instead deciding that you’re going to save money by cutting out buying a few lottery tickets per week doesn’t make much sense in the long run. Saving an extra $5 per week or $20-30 per month means very little in comparison to a few hundred.
The goal of saving money is to make more than just a minor dent in your debt but rather succeed in setting aside enough cash for plenty of breathing room. If all you’re hoping to save money by keeping your minor spending in check, you shouldn’t hold your breath.