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On Payday Avoid These 5 Unnecessary Expenses

Posted by MoneyKey on March 28, 2016
a spread of money in hand on payday

Stretch Your Payday Further

A major reason why we often face the payday cash crunch is because we incur expenditures our budgets don’t cater for. Learn to be more frugal and eliminate unnecessary expenses by following the tips explained below.

Impulsive Spending Ruins Your Payday

Do you remember grabbing the pack of halls, candies, or a snack on display while standing in the cashier’s line at the supermarket? For many people, impulse spending happens because those treats are considered inexpensive, so they don’t think twice about snatching these items off the shelves. Items are strategically placed in certain areas with the intention to dictate your spending. Unfortunately, many people are not aware of the mind games the corporations play and succumb to these marketing tactics, I urge you to be more conscientious while shopping – cut out the impulsive buying, and you may be surprised by how much you’ll save by the end of the year!

Late fees eat into your payday

You know you budgeted $100 to pay your utility bills, but, you forgot to pay it on time. Unfortunately, the company has a $20 late fee, so your new balance is $120. You can easily eliminate such unnecessary additional expenses caused by human error. For example, set up automatic bill payments or use a simple tool such as a recurring phone reminder. Whatever method you opt for, always try to pay your monthly financial obligations on time, and you will be on the road to better money management.


New technology is gradually making cable obsolete. Even if you believe you must have cable, consider only getting the basic package. Today, almost everyone has the internet, so it is now possible to watch most of the programs you want, often for free or for a nominal fee. For instance, you can utilize sites like YouTube or streaming services like Netflix or Hulu to satisfy your entertainment needs without paying high cable fees.

Eating Out

Try eating out less often, and you may end up saving a lot of money. Mind you, nothing is wrong with patronizing your favorite restaurant once in a while or on special occasions, but indulging regularly can be quite costly to your wallet and your health. Admittedly, this piece of advice may sound cliché but preparing your meals at home can be a great way to lower your expenses potentially save you a ton on payday, and it can help manage your finances.


If you take stock of the amount you spend on coffee during the week, you may be surprised. Generally, people tend to forget to budget for these small expenses as inconsequential as the fee might appear, the cost for the warm cups of deliciousness accumulates rapidly. Even if you’re adamant that you can’t do without coffee, cater for it in your monthly budget. On the other hand, if it isn’t a must-have, try to lessen or even eliminate this expense because each cup of unbudgeted coffee brings you a step closer to a shortfall before your next payday.

Closely monitor your spending habits and make the necessary adjustments where possible to ensure you do not fall short of your monthly budget.


Disclaimer: This article provides general information only and does not constitute financial, legal or other professional advice. For full details, see MoneyKey's Terms of Use.

Posted in: Financial Tips

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