Everybody has cravings, some have a taste for chips on the way, the morning coffee or an afternoon refreshment. And while the cost of these goodies by them self may go for as cheap as 2 bucks, once you add them up they can be a significant part of your spending.
These “micro expenses” are completely avoidable, and we have some tips for you if you're commited to forget about them.
What are ant expenses?
The name “ant” comes precisely from their “size” because they are so small that it seems that they don’t have an effect on our finances, but when you add up these expenses at the end of the month, the figure can really hurt your wallet.
These expenses are deeply rooted in our habits and sometimes show a lack of commitment to your budget.
What can you against them? Try lowering your impulses, these purchases are motivated by “instant gratifications” of granting what we want at the moment, so delaying your gratifications is key to stop these spendings.
1. Identify your own ant expenses
It’s not about feeling guilty for spending on the things we like, the problem is when we do it often enough to let it harm our budget and our most important goals, because: What’s more important, buying a coffee caup everyday or buying a house?
Learn to identify your own ant expenses.
One way to hunt these expenses down is using the Kakeibo Mehtod, a Japanese budget technique widely employed to save money. This is a great starting point to identify your ant expenses keeping track of ABSOLUTELY EVERYTHING YOU SPEND ON, even if it’s only for a month. It won’t be easy, but we recommend you do the exercise.
When you have identified exactly what your “minimum” expenses are and understand how much money you spend on them each month, you will have the power to make changes.
2. Anticipate ant expenses
Now that you have identified your own expenses, ask yourself a basic question: Do you really NEED it? The answer is not that simple, because maybe you don't need some chips in the afternoon, but you do need to eat something between lunch and dinner.
3- Make a plan to spend less
This is the key to saving money. Make a plan to eliminate completely unnecessary expenses, and prepare to lower the cost of the ones you really want to keep.
Basic tips:
- Buy in bulk and in advance: it will be cheaper, and you can improve your diet, in fact we recommend you to eat healthier without spending so much.
- Learn to prepare what you like: You can find out how to make coffee or the daily smoothie just the way you like it and get the ingredients to make them at home. We remind you that “learning to cook has benefits for your life and for your wallet”.
Facing ant expenses requires doing a self analysis exercise of how you spend money. Don’t be afraid of knowing what you need, because by understanding yourself, you will know what you have to do to change.
Whether you get up earlier to make your coffee or a smoothie, doing so will keep that money in your pocket.
By planning your groceries conscientiously; you will be much more conscious of the things you spend your money on, and it will be reflected in your health and your finances.
Commitment is the engine that will lead you to change. Learn to know yourself better and turn these old bad habits into new good ones!
