Easy Does It

How convenience can kill a budget

One of the easiest ways to bust a budget is to become too reliant on convenience. Yes, everything is right at the tip of our fingers these days, but all too often that ease comes with a price. Here are some ways convenience can bust your budget.

  • You pay more for specific items. Don’t want to take the subway to work? You can hop in an Uber or Lyft. Don’t feel like chopping veggies for dinner? You can buy pre-prepared produce. While these convenient, specific items are great, they cost more than their alternatives. Try to opt out of this kind of spending when you can. For example, you might be sticking to one credit card simply because of the benefits it has, despite the fact that there are other, lower-interest rate cards out there. Have an open mind and you just might save some cash.
  • You could be spending on things you don’t use. It’s likely that you have subscriptions that you don’t use. Cancel them! Subscriptions are nice and convenient, but only if you actually make use of them. Otherwise they’re just a money drain.
  • You miss the big picture. As US News reports, it’s easy to brush off the relatively small expenses that come with convenience spending. However, when you step back and look at how they all add up, it becomes a little more difficult to let it go. Keep in mind that $5 here and $10 there really does impact your overall budget. And if you’re not convinced, track all of your spending for a week — and add it up.
  • Healthcare costs can increase. You probably don’t even think about how convenience can impact healthcare costs, but it does. You take the car a few blocks instead of just walking. You opt for a dog walker instead of walking your dog yourself. Research has shown that healthcare costs are almost 30 percent higher for inactive people than active people. The next time you consider taking a cab instead of walking, keep this in mind.
  • Chris O'Shea

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