Why does the money in your account drop quickly just a few days after payday, even though you haven't made any big purchases or extravagant spending? This problem may not stem solely from insufficient income but from small daily spending habits that add up into significant expenses without you realizing it.
Thairath Online invites you to examine 7 money-leaking habits that many people unknowingly develop, along with ways to adjust spending habits to reduce unnecessary expenses and increase monthly savings.
A 60-baht coffee, 40-baht snack during the day, or small inexpensive items—each time the amount is small, but spending about 100 baht daily for 30 days adds up to 3,000 baht a month without realizing it. Try tracking these small expenses to see where your money goes.
The convenience of online food ordering can cause people to spend more than expected, including food cost, delivery fees, and service charges. Ordering daily meals can become a large expense. Try limiting delivery days per week or cooking some meals yourself to cut costs.
Monthly subscriptions to movie, music platforms, apps, or online services that auto-deduct can silently leak money, especially when unused. For example, three services at 199 baht each total 597 baht monthly or 7,164 baht yearly.
Discounts like 50% off, buy-one-get-one, or free shipping after a minimum purchase can prompt unplanned buying. Although it feels like saving money, purchasing unnecessary goods increases expenses unnecessarily. Before buying, ask yourself if you would still want the item without the discount.
Paying with credit cards, mobile banking, or installment plans can obscure how much money is spent since cash isn't physically exchanged. Especially with multiple installment purchases, monthly expenses can accumulate. Regularly check spending and pay credit card bills in full on time to avoid interest.
One habit that prevents saving is waiting until the end of the month to save leftover money. Continuous expenses may deplete the intended savings. The solution is to "save before spending" by setting aside savings immediately when receiving salary, such as starting with 10% of income or an amount suitable for your expenses.
Many know their monthly income but are unaware of how money is spent each month. Not tracking expenses may hide overspending habits. Try recording income and expenses using a notebook or app, categorizing costs like food, transportation, shopping, and entertainment to better understand your financial picture.
These money-leaking habits don't mean you must quit coffee, stop shopping, or live extremely frugally without enjoyment. Rather, it's about understanding your spending behavior and reducing unnecessary expenses. Sometimes, increasing savings doesn't require earning more but better managing the money you already have.