Are your bad habits costing you your future happiness? Whilst this may sound silly, it may very well be the case.

Many people are trying to undertake debt management just to keep their heads above water, but how did they find themselves in this situation in the first place? We’ve previously explored this in the top ten reasons we get into debt. This post however, will be focused on the small changes you can make now which will have a big impact.

Buying lunch

Have you ever thought about how much your lunch is really costing you? It may not seem like much, but that $9 a day lunch is costing you big time.

Based on the number of working days in the year (174 working days to be exact) this habit is costing you about $1566 every single year.

Instead of buying lunch every single day, take it one or two days a week and this could save you $580 every year, even after you take into consideration the cost of making your own lunch.


Okay, I know this one might be criminal in a lot of people’s books, but buying a coffee every single day on your way to work is costing you big time. $861.30 in a working year to be precise.

Without trying to go overboard and restrict all the pleasures in life, try and limit yourself to just 2 coffees a week and save $519.75 every single year.

Playing the lotto

Think about how much this is costing you. The average lotto ticket is about $12, and assume you buy one every single week that’s $624 a year. Let’s be honest the chances are this number is conservative because a lot of people buy way more than one ticket.

This may not sound like a lot of money, but think about it, that’s $624 you are throwing away (yes, the chances of you winning are so slim you are throwing it away).

Instead use it to pay off your credit card. Imagine:

You owe $4000, and are charged 24% interest.

Put that extra $48 a month ($12 a week) into the credit card and you could save $2,637 and pay off your card in only 4 years!

Doesn’t that sound like a better, and more guaranteed, result?

Electronic Newsletter Subscriptions

I know this may sound a little weird, but how many times has an e-newsletter come into your inbox from your favourite store and suddenly you have just bought another thing online?

This impulse spend is costing you money, and it making your quest of debt management that much harder.

If you impulse buy something from the newsletter once a fortnight, and assume it’s only a $50 spend that is costing $1,300 a year.

Unsubscribe from the e-newsletters right now, and you could be saving all this money and not even notice the difference!

Not planning!

Not planning for future expenses is costing you big money. Yes that’s right. Have you ever had an unexpected expense pop up that you don’t have the money to pay for, so you throw it on the credit card?

Instil a bit of debt management and money management, and build an emergency fund.

An emergency fund is money you have slowly been putting aside to cover these unexpected costs so you don’t have to stress about where money is coming from.

Whilst this doesn’t necessarily save you money right here and now, it will in the long run in interest payments, fees and charges.

Staying in debt

Have you ever thought about how much your debt is costing you? Assuming you have 2 credit cards, $3000 and $5000 owing on each and a personal loan of $10,000. Interest alone will set you back $14,401.94.

All of the solutions we have suggested could save you $3023.75 a year. Put this extra money towards your debts and you will be savings thousands of dollars every single year as you pay off your debt.

That may sound like a lot money but think about what you could do with an extra $3500 after you have paid off all your debt. A house deposit, or that holiday isn’t such a faraway dream after all.

If this motivates you, check out our blog what financially savvy people don’t do to find even more savings.

Being in debt is hard, but there are small little changes you can make in your life that don’t dramatically affect your lifestyle.

If you’re having issues with debt management, we can help. Call us on 1300 887 211 or Book a Free No Obligation Phone Consultation with our friendly team and we can discuss debt management options specially focused on your personal situation.


Elise Bentley
Brand & Communications Manager

Elise is passionate about finance, and is on a mission to explore and share different tactics for tackling the everyday financial challenges in realistic and achievable ways. With a background in communications, digital marketing, and public relations, Elise uses her skills to generate new ideas and content to help make finance fun.