7 Bad Habits That Can Cost You Thousands of Dollars a Year

×
Have you heard of the "latte factor?"

Popularized by author David Bach, it refers to the idea that if you indulge in a $5 store-bought latte every workday, you'll drink up more than $1,200 a year. Ouch!

The idea is that spending on little things can add up -- and the problem is especially troublesome if those "little things" represent bad habits.

If you're spending an extra $5 a week on groceries because you've decided to buy more fresh produce, your money is at least going towards a lifestyle improvement. But if you're blowing your cash on bad habits, it's time to think twice.

After all, wasting even $5 a day means you're not doing better things with that money -- like saving it for retirement, health care costs or a vacation.

Here are seven other ways your bad habits could be costing you thousands of dollars or more every year:



Paula Pant ditched her 9-to-5 job in 2008. She's traveled to 30 countries, owns six rental units and runs a business from her laptop. Her blog, Afford Anything, is a gathering spot for rebels who refuse to say, "I can't afford it." Visit Afford Anything to learn how to shatter limits and live life on your own terms.

Increase your money and finance knowledge from home

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

Timing Your Spending

How to pay less by changing when you purchase.

View Course »

Add a Comment

*0 / 3000 Character Maximum

30 Comments

Filter by:
BULLMAN

And deb really the best things in life ARE free.. If you need just ask.

June 18 2014 at 1:50 AM Report abuse rate up rate down Reply
BULLMAN

I bagged my lunch for 40 years it did not cost $7.00

June 18 2014 at 1:47 AM Report abuse rate up rate down Reply
DEBORAH

I'm reminded of the guy who said "The best things in life are either illegal, immoral or fattening."

June 17 2014 at 11:54 PM Report abuse rate up rate down Reply
madddddddddddddd

only idiots eat lunch out.........................but look at the usa , as a group.....all idiots,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,look who they elected???????????,, a golfer ,,not a warrior..............

June 17 2014 at 11:30 PM Report abuse -2 rate up rate down Reply
suealiaim

plus my time to make it and clean the containers...yes, it does all add up.

June 17 2014 at 8:22 PM Report abuse rate up rate down Reply
suealiaim

meh. i bag my lunch, but even so, my lunch costs about $7.00 a day.

June 17 2014 at 8:21 PM Report abuse rate up rate down Reply
v7howkloosh

like no one knows these things already and those who dont wont ever know them! lolol aol must be running out of stories and it sure cant allow karen hudes senior legal counsel for the world bank for 20 years to be covered and tell what she found out there. oh heavens no! dont reveal th truth to americans

June 17 2014 at 7:08 PM Report abuse -1 rate up rate down Reply
1 reply to v7howkloosh's comment
suealiaim

every new generation needs to learn them...

June 17 2014 at 8:21 PM Report abuse rate up rate down Reply
v7howkloosh

SO? maybe some of us dont call wanting a good lunch out everyday a bad habit. geez what a stupid comment. oh but its ok to waste 8500 per year swilling beers every weekend or pretending to play golf every chance you get or ,...etc etc oh yea riding seadoos and blowing pollution into the water not too mention noise and churning up the home of the water creatures

June 17 2014 at 7:06 PM Report abuse rate up rate down Reply
investigatorkch

BS...........you still have to buy the stuff to take to work

June 17 2014 at 5:24 PM Report abuse rate up rate down Reply
Valerie

The basic premise of this article is sound. All those "little expenses" can sink your financial boat.

If you think that stuff doesn't have much importance, try tracking all of your spending for a month. Write down EVERYTHING you spend money for. You will have a real wake-up experience when you read over that list at the end of 30 days and realize just how many times you have mindlessly spent money on impulse purchases. And, worse yet, just how much that impulse buying adds up to.

June 17 2014 at 5:20 PM Report abuse rate up rate down Reply