The Money You Don’t Know You’re Wasting

“Beware of little expenses. A small leak will sink a great ship” — Benjamin Franklin

3 min read

The Money You Don’t Know You’re Wasting

“Beware of little expenses. A small leak will sink a great ship” — Benjamin Franklin

3 min read

Have you ever checked your bank account and seen less money than you expected? Or perhaps you’ve looked at your credit card or bank statement and wondered where all those charges came from? If so, you’re not alone. Many people have experienced the frustration of money slipping through their fingers, seemingly vanishing into thin air.

It’s like a silent thief in the night, quietly siphoning away your hard-earned cash, one transaction at a time.

In our daily lives, we’re often vigilant about our major expenses – rent or mortgage, utilities, groceries, transport etc. – but what about the smaller, seemingly inconsequential costs that add up over time? These expenses may go unnoticed, yet they have the potential to eat away at your budget and financial goals in what feels like the blink of an eye.

It’s time to shine a light on these silent budget killers and take control of your finances. From your morning coffee to your online shopping extravaganza, here you will learn how these seemingly insignificant expenses can have a significant impact on your overall financial well-being. More importantly, by becoming aware of these money-wasting culprits, you can start making smarter financial choices and keep more money in your pocket.

The Price of Meal Delivery Services

Food delivery services have taken the culinary world by storm, offering the allure of gourmet meals delivered right to your doorstep with little to no effort involved. They promise to save you time on cooking and grocery shopping, but they may be a larger drain on your savings than you think. The convenience of pre-packaged, ready-to-cook meals often comes with a premium price tag. Over time, those seemingly modest weekly subscription fees can add up, leaving you with a hefty annual bill for the privilege of convenience.

Ride-Sharing Apps and Transportation Cost

Ride-sharing apps have revolutionised urban transportation, providing a convenient alternative to traditional taxis and public transit. However, the cost of this convenience can quickly accumulate, especially if you rely on these services for daily commuting. The ease of booking a ride with a few taps on your phone can obscure the fact that ride-sharing can be significantly more expensive than other transportation options. It’s essential to balance convenience with cost-effectiveness when deciding how to get around.

Lunches Away from Home

Lunchtime at work is another potential financial pitfall. It’s often convenient to join your colleagues for lunch at nearby restaurants or go down to the food court in your office building, but those midday meals can take a toll on your wallet. Spending CHF 10 to CHF 20 (or more!) each workday on lunch can easily add up to over CHF 5,000 a year. Imagine what you could do with that money if you brought your lunch from home a few times a week instead. By making small changes to your daily routines, you can rein in these costs and make significant strides toward improving your financial situation.

The Daily Coffee Habit

Consider your morning coffee routine. It might seem like a minor expense, just a few Francs each day. But when you do the math, that daily CHF 5.00.- coffee adds up to CHF 1’305 per year, and that’s excluding weekends! Whilst treating yourself occasionally is perfectly fine and even encouraged, when this ritual becomes a daily occurrence, it can hinder your financial progress. By evaluating such a coffee habit and exploring more cost-effective alternatives, you can redirect those funds towards more meaningful financial goals, like saving for a vacation or building an emergency fund.

The Allure of Online Shopping

Online shopping has reshaped the way we buy everything from clothing to electronics. The convenience of browsing and purchasing from the comfort of your home is undeniable. Yet, it’s also easy to fall into the trap of mindless spending. The simplicity of one-click ordering can lead to impulsive purchases and a growing credit card balance. What seems like a small indulgence here and there can accumulate into substantial debt if left unchecked.

Remember, there will always be another deal, another sale and another discount.

Finding the Balance

There is no denying that convenience is highly valuable. However, it’s crucial to be mindful of the financial implications. Rather than letting convenience become your wallet’s worst enemy, you can take steps to strike a balance between modern conveniences and your financial well-being.

  1. Set a Budget: Establish a budget that allocates funds for both essentials and leisure. This way, you can enjoy the benefits of shopping, eating out and more without overspending.

  2. Track Your Spending: Regularly monitor your expenses, especially those related to conveniences like food delivery, work lunches and transport. Identifying areas where you might be overspending can help you make necessary adjustments.

  3. Prioritise Savings: Allocate a portion of your income to savings before indulging in any leisure spending at all. Building a financial safety net should always come first.

  4. Use Discounts and Promotions: Take advantage of discounts, loyalty programs, and promotions offered online or in-stores services. It’s an easy way to enjoy the benefits while reducing costs (sometimes significantly).

  5. Practice Mindful Spending: Before making a leisure-related purchase, pause and ask yourself if it’s a genuine necessity or a fleeting desire. Being mindful can help you curb impulse buying. Before pressing ‘buy now’, consider coming back to it the next day and see whether the same desire to buy is still there.

The Power of Small Changes

In the grand scheme of things, it’s easy to dismiss the impact of daily expenses like coffee runs and dining out for lunch. However, as we’ve seen, these seemingly insignificant costs can accumulate into substantial annual expenditures. By taking a closer look at your spending habits and making some simple adjustments, you can regain control over your finances. Redirecting the money spent on daily indulgences towards savings, debt reduction, or investments can lead to significant financial growth over time that you may not even think possible.

It’s most certainly not about depriving yourself of life’s pleasures at all. Rather, it is about making mindful choices that align with your long-term financial goals. So, the next time you reach for that daily latte or consider dining out for lunch, remember the potential financial power you hold in your hands. Small changes today can yield significant rewards tomorrow.

For more information on how small changes can help you, get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.