Top 3 “Money Monsters” That Eat Our Souls (And Our Wallets!)

There is a set of monsters on the loose! Sure, they do not live under your bed by the “Boogey-man” and they are not nestled deeply in a wooded forest. These monsters live within each of us; they are the “Money Monsters”. They will devour your soul, and if you are not careful, they will mutilate your bank accounts. We know how difficult it is to build your empire of finances and we know that it is hard to know how much money to save and in which accounts you should be distributing into. However, there are areas you might be spending money in that could be costing you hundreds, even thousands, of dollars each year! From the small, day to day items to some of the more pricey items, these items have been repeatedly named some of the biggest money wasters in the world. Read on and start saving these mindless expenditures today!

1. The first “Money Monster” on our list is coffee. While it is difficult to function without that creamy, delectable latte from your local coffee shop each day, it might be burning a big ol hole in your wallet. According to recent studies, the most popular coffee beverage in the United States is the “Skinny Vanilla Latte” from Starbucks. This tasty delight costs anywhere between $2.85 – $3.65 for a tall latte (which is the smallest size they offer for those Starbucks boo-ru’s out there). How could this cheap and affordable little thing cost you so much? We did the math and found that if someone consumes this beverage five times each week for one year, they would be running a total of about $741.00 – $949.00 (not including taxes) every, single year. Just to really push the limits, we calculated the prices of someone who consumes this tasty beverage five times a week and has for 10 years, consecutively. Their tab would be roughly $7,410.00 – $9,490.00 (also not including taxes). This is a down payment on a house that people are spending on a latte every day! Do yourselves a favor and buy the coffee at home and save the lattes for graduation from law school, your 25 year anniversary or if/when you win the lottery for $52 million.
2. The second “Money Monster” is eating out. We understand how challenging it is to get up that extra 5 minutes early to pack your lunch instead of just heading to the nearest fast-food joint. However, do you know just how much money you are wasting on eating out? Recent studies show that the average combination meal from fast-food restaurants costs $6.50. This is not just a small price. We calculated this as though you ate fast-food 5 times per week for lunch only for one year. Shockingly enough, this will be costing you $1690.00 each year. Out of curiosity, we calculated this amount over the course of 10 years and the grand total is $16,900.00. This absurd chunk of money could be remodeling your house, paying for your child’s education or buying you a boat! If you are money savvy, or even are an aspiring financial guru, save your money! Without a shadow of a doubt – do NOT eat out!
3. The third “Money Monster” is cigarettes. If you love that nicotine rush, you might want to consider quitting for more reasons than just your health. As the economy flails and flounders, the prices of cigarettes are on the “up n’ up”. The average price for a carton of cigarettes in the United States is $50.00 a carton. If you smoke 1 pack, each day, this is roughly $150.00 for each month! For one year of smoking, this is $1,800.00 and for 10 years of consecutively smoking, this is 18,000.00! Help your lungs and your moo-lah and stop spending this mindless money. Don’t be a joke – don’t smoke!

While these “Money Monsters” are not spoken of frequently amongst us, they should be! Put out flyers, tell your neighbors all about it and watch your dollar bills! These little monsters may look harmless, but they will demolish your financial well-being and leave you in a deep, penniless hole of despair.