Finance expert reveals just how easy it is to waste $10,000 a YEAR on mindless spending – and how you can prevent it with a few handy tricks
- A photo has shocked hundreds after detailing how easy it is to spend $10,000
- It read it only takes spending $27.40 per day to waste $10K in one year
- The reality check shocked hundreds part of the ‘She’s On The Money’ group
An image showing how easy it is to waste $10,000 in one year has prompted hundreds to be cautious with their spending habits.
The photo shared to the ‘She’s On The Money’ Facebook group revealed it only takes $27.40 a day of ‘miscellaneous spending’ to waste the huge sum per year.
Host of the She’s On The Money podcast, Victoria Devine, from Melbourne, created the online community which has grown to attract 202,000 members wanting to improve their money habits.
Hundreds were shocked as the small amount per day can easily add up by buying a cup of coffee and a muffin at work followed by lunch or a quick trip to Kmart.
The photo was originally made by Joshua Becker, the creator of American website Becoming Minimalist.
The photo shared to the ‘She’s On The Money’ Facebook group revealed it only takes $27.40 a day of ‘miscellaneous spending’ to waste $10,000 per year
Host of the She’s On The Money podcast, Victoria Devine, from Melbourne, (pictured) created the online community which has grown to attract 202,000 members wanting to improve their money habits
‘Talk about a reality check!!! I easily spend that on food and drinks over the course of a year, I’m sure,’ one woman commented.
‘I have a goal of bumping up my emergency fund this year! So this is a great perspective!’ another added.
‘Actually. Terrifying. Thank you for the slap in the face with reality,’ a third said.
A fourth added: ‘Literally spent $28 at Kmart today, dang it!’
Others questioned how someone could possibly afford to spend up to $191 per week on themselves.
‘There’s people out there with that much spare money?! I sure don’t,’ another wrote.
If something is ‘miscellaneous’ it’s usually made up of an odd collection of items.
Hundreds were shocked as the small amount per day can easily add up by buying a cup of coffee and a muffin at work following by lunch or a quick trip to Kmart (stock image)
Earlier this month four spreadsheets were shared online detailing how to save between $1,000 and $20,000 in one year.
The money saving ‘hacks’ also by ‘She’s on the Money offer four free spreadsheets online, and throughout 2021 many have found the tactics incredibly useful.
The strategy is simple – every week cross out a box and transfer the amount into your savings after getting paid and before spending any money.
The amounts in each box vary from $3 up to $600 depending on the end goal.
Hundreds of women rejoiced at how well the finance tips worked for them this year, and many were able to combine more than one spreadsheet together.
The printable money saving sheets can be downloaded on the She’s on the Money website here.
Hundreds online used the money sheets to pay off personal debt and save for car and home mortgage loans ($20,000 money sheet pictured)