Changing small habits, save big money February 17, 2006
I’ve made three changes in my life in 2006, which have made a difference in my finances:
- I eat breakfast at home
- I pack my lunch
- I don’t take the subway if I can walk it
It takes some dedication, but it has paid off so far this year. For breakfast, I’ll wake up 10-15 minutes earlier to give myself enough time to eat, scan the paper, and drink a cup of tea or coffee. I know for some people, waking up earlier is not an option (*cough*, the wife, *cough*) but for me, eating at home is worth it. I get up pretty early at 5:30am. There was an entry on My Open Wallet, another personal finance blog I regularly read, about how much breakfast in the city can cost, specifically if you have a bagel with butter or a topping. I usually get a bagel and a coffee, or a donut and a coffee, which would cost about $2 - $3 in most NYC delis. You can also get a donut and a coffee for $1.25 in those street carts you see outside. It seems cheap, but in a month, you can save $60 by eating breakfast at home. If you buy bagels at the store, each bagel costs $0.20-0.70 depending on where you buy them. My local Whole Foods charges $0.69 per bagel, probably the costliest place to get your groceries. I get mine for $0.40 each for a 5 pack. So that’s $2 per week vs. $15 spent on breakfast.
For lunch, I’ve saved anywhere from $15 - $25 per week by packing my lunch with leftovers from dinner. This has already been discussed to death in the personal finance blogs, but that’s real money saved. Average of $80 saved per month.
Finally, I’ve stopped taking the subway to and from work. The subway fare is $2. I usually take the subway in the morning and after work. So I save $4 per day, $20 per week by not taking the subway. It’s only one stop, so walking is not bad at all. My rule now is that if a subway ride is less than two stops, I’ll walk (unless I’m in a hurry). There’s an added physical benefit too!
So here’s a summary of my savings by changing my habits
- Eating breakfast at home: Saved $65 per month
- Packing my lunch: Saved $80 per month
- Not taking the subway: Saved $80 per month
That’s a grand total of $225 per month saved! Real money saved. Didn’t think that $2 breakfast added up, huh?