The daily coffee habit can drain your wallet without you even realizing it. A 2021 Yahoo Finance study found that American women spend an average of 2,500 USD annually on store-bought coffee. Many argue it's essential for getting through the workday, but savvy spenders recognize the cost savings of brewing their own coffee at home. American psychologist Marielisa Reyes notes that wise spenders see an 8 USD coffee as an unnecessary expense when they can achieve a similar result at home for about 2 USD, saving thousands of dollars annually.
While some might splurge on designer brands to project an image of luxury, savvy spenders prioritize value and practicality over flashiness. A study published in the American Journal of Lifestyle Medicine found that thrifty individuals often prefer sales or off-season shopping. For example, they might stock up on winter clothes during summer sales to get better deals while maintaining quality.
Bottled water is another area where smart spenders save. According to The Water Project, a US-based clean water organization, the average American spends 100 USD per year on bottled water. Thrifty individuals often opt for free or low-cost water sources like parks and churches or invest in a home filtration system.
Many people pay for ad-free streaming services for movies and music. Next Gen Personal Finance, a US-based financial education resource provider, reports that consumers spend an average of 91 USD monthly on such entertainment. However, savvy spenders often accept limited ads or find alternative entertainment options to reduce these costs.
Gift-giving doesn't have to break the bank. Savvy spenders understand that thoughtful gifts can be more meaningful than expensive ones. They focus on presents that strengthen relationships and demonstrate genuine care, rather than focusing solely on monetary value.
While occasional restaurant meals or coffee outings are fine, overindulging can quickly become costly. Dining out is significantly more expensive than cooking at home and can even pose health risks due to less control over ingredients. Smart spenders prioritize home-cooked meals to save money and maintain a healthy diet.
Thanh Thanh (*Yourtango*)
