Do you wonder where all your money went at the end of the month? This is especially after you determine that you haven’t splurged or made unnecessary purchases. However, if you review and take a closer look at your monthly payables, you will find your money loopholes.

“Balancing your money is the key to having enough.”— Elizabeth Warren

Magazine/Entertainment Subscriptions

Habits are rather automated behaviors that tend to require little or no re-evaluation. Remember the term “force of habit?” You may want to step back and ask yourself if you really need that magazine or Netflix subscription.

Make it your priority to save a certain amount of money each month to avoid getting into the red. You may opt to get the information you need from the online versions of the magazines or just Google for entertainment inspirations and ideas.

 Gym Membership

How often do you pop in at the gym per month? Perhaps you’re better off canceling that membership, which could total to hundreds of dollars at the end of the year. You could always work out for free at a nearby park or right in your own home. You can also take advantage of free promotional or communal activities that involve physical exertion now and then for variety.

If your workplace offers a wellness program, you can also benefit from that. You can also follow online programs or be guided by YouTube videos. If you’re worried about not having someone to motivate you and whip you into shape, you can enlist a sports buff pal or join a running or cycling group.

Utilities

Of course, you need to pay your monthly water, heating, and electricity bills. However, ask yourself whether there are ways you can pull those costs even lower. You can, for example, just turn that thermostat down a notch or two to save on your heating bill. It doesn’t make much of a difference with regards to your personal comfort but it can do your monthly budget good.

The Occasional Food Treat

Do you have the habit of buying yourself a latte before heading to work? Or eat out more than once a week? That explains why your monthly expenses leave only a little extra for you to put in your savings pile.

These seemingly innocuous expenses can eat up at your money little by little. If you add up all the costs of these treats, you probably will realize how sneakily damaging these are for your finances.

Transportation Costs

If you travel via your own car, parking fees and fuel expenses may be making a serious dent in your financial resources. There’s also the cost of maintaining your vehicle and paying its insurance premium. Commuting or sharing a ride will help you cut down on your transportation expenses and bump up the amount you can save per month. You won’t have to worry about finding parking space, too!

Grocery Expenses

Do you find yourself throwing away excess perishables? Perhaps you can estimate how much you or your household really needs each week to minimize or eliminate wastage, which is costly, of course.

You can also opt to buy your supplies in bulk and pick the lower-cost alternatives so you bring down the costs.