Do you know how stupid I felt?
“Stupid,” may be a harsh word to use, but when a light bulb appears over my head sometimes, that’s how I feel.
In the 2000s, I worked in academia. I was an adjunct college instructor and an academic advisor.
I used my lunch hour to get out of the office and decompress.
And, to overindulge in buying lunch from various fast food places.
I loved buying hero subs from Blimpies or Subway.
The “sandwich artisans,” were annoying. I mean, they never gave you enough cheese slices on those sandwiches.
But there was something hypnotic for me about getting through the workday until midday to get my hands on a sub.
I would usually pay $8 to $10 for a 12-inch sub, chips, and a drink.
Or, I would go to McDonalds or Wendys or KFC and spend an average of about $7 per meal.
So, I was paying about $35 to $50 a week on lunch.
Or, about $200 monthly or over $2,000 annually.
On Subway and McDonalds.
It’s maddening and embarrassing to think about now.
But I am writing about it because too many other people throw money away like this without thinking of the financial consequences.
Acknowledging Waste
I was involved with someone at the time and she once asked me why I didn’t just make a sandwich at home to bring to work for lunch.
We bought sandwich rolls, sandwich meat, cheese, lettuce, tomatoes, pickles, vinegar, and pepper.
Every ingredient that could be found in a Subway or Blimpies sandwich was utilized.
These ingredients cost a fraction of the fast food sandwich price.
We made the sandwich ourselves at home.
It tasted exactly the same as a store-bought sandwich.
It’s amazing how much we can disavow or ignore our mindset when we want what we want.
Or when we complain about not having enough money.
Life is hard. I understand that.
However, human beings have a tendency to make life harder for themselves.
Or, to sabotage themselves from the very goals they wish to accomplish.
It is not my intent to advise you to deny yourself a treat at lunch.
Or to buy a Big Mac when the urge strikes.
I just want to stress how much money you can save by cutting out unnecessary daily expenses.
When I was working in a school office, I was on autopilot when it came to lunch
I had wasted a lot of money over a period of years before I had realized what I was doing.
Keep a daily food, snack, and vice expense diary.
Whether its candy bars, cigarettes, potato chips, or any daily unnecessary expense, you should assess whether you need it or not.
It could mean the difference of saving a few hundred or thousands annually and regretting not doing so decades later.
Read More
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.