Invisible spending - here's what you could have had!
Are you guilty of ‘so-called’ invisible spending? It’s those non-budgeted purchases, from your morning coffee or afternoon chocolate fix to unexpected evening drinks. As spending on these items can add up over the year, we’ve taken a look at what you could spend your money on by cutting out these costs.
Shop Bought Coffee
Everyone likes to treat themselves to shop bought coffee every once in a while, but do this too often the cost can start to add up. If your average cup of coffee costs £2.50 and you have 2 cups per week, your total weekly spend would be £5. In the short term this may not sound like a lot of money, but do this every week for a year and you’ll be spending around £260.
For £260 you could:
- Pay for 2 weeks’ worth of food to feed a family of 41
- Buy 2 West End theatre tickets2
- Pay off ¼ of the average energy bill for a medium house3
We all know that something sweet in the afternoon can be the perfect pick-me-up, but your waistline won’t be the only thing that suffers if you indulge too often. If you treat yourself once a week to an afternoon snack roughly costing £1.50, you’ll end up spending about £78 a year.
For £78 you could:
- Take yourselves and someone else to the cinema 5 times4
- Have dinner for 2 at a restaurant5
- Pay for one tenth of an average annual car insurance policy6
Drinks with Friends
Do you enjoy spending time catching up with friends and family over a few drinks? You’re not alone. But those spontaneous trips to the local pub or bar soon mount up. If a pint of beer costs around £3.60, if you went out twice a month and had 2 drinks you’d spend almost £175 over a year.
For £175 you could:
- Buy a Winter city break to Dublin7
- Pay for almost 1 month of a commuters annual rail season ticket8
- Pay off nearly ½ the average household water and sewerage bill9
Everyone deserves to treat themselves every once in a while but try to keep tabs on your ‘invisible spending’ and cut back where you can. Money spent on coffee, cakes and cocktails could be deposited straight into a savings account where you could earn interest.