People are always talking about saving more for a rainy day or for the future while not paying much attention to what is preventing this from happening.  There may not be so many ways around essential expenses but there are certainly lots of ways to  turn one’s back on unnecessary ones.  By reducing or even eliminating vices,  there are more chances of increasing savings and realizing financial goals earlier.

vice

Vices are things we can live without

Smoking

Smoking is one of the most common vices engaged in by people from all walks of life.  Most people smoke without giving much thought about it although there are certain identified reasons why people start the habit.  Smoking usually starts especially among the young to be part of a group or because it just seemed an attractive thing to do at that time.

Full-grown adults give several reasons for starting to smoke including the need to relieve tension, to control weight, or to boost energy.  Whether these reasons have any absolute scientific basis or not still remains to be seen.  What has been determined however, is that smoking leads to certain diseases that can be avoided if smoking is eliminated.

Regular smokers may not notice the amount of money they actually spend on this habit because buying is usually done in small amounts.  However, the frequency and regularity of buying has to be considered in determining how much is being spent on something that can actually make people sick.  Smokers will be surprised when they see their cigarette consumption in terms of money figures.

vice

Alcohol

Moderation in drinking alcoholic beverages is suggested by some quarters as a healthy  habit.  The danger again lies in the possibility of consuming excessive quantity of alcohol for a continuous period of time.  It also needs to be understood that the potency of each type of alcohol varies thus it is possible that what one believes to be in moderate level is already in reality in excess.

People who drink alcohol say it is a way to unwind after a hard day’s work.  They say that drinking is fun and helps them forget their problems.  Many forget that habitual drinking affects job performance and one’s state of health as well.

Habitual drinking also leads to a big dent in finances because alcoholic drinks are not cheap especially when consumed on a regular basis on frequent night-outs with friends.  Some people even offer to shoulder the bills for drinking sprees which is obviously financially draining. Sometimes the loss of drinking buddies is just unacceptable.

Frequent Eating-Out

There is a general belief that people need not scrimp on food since it is a basic necessity of the human body.  This belief should be qualified when it comes to frequent eat-outs.  Eating out  in restaurants, coffee shops, and other food stores easily add up in numbers and so does frequent take-outs.  Regular eating-out is hardly a necessity and to indulge in it frequently is seen by many as a luxury.  This is true whether a person has a family or on his own.

Frequent Shopping

Frequent shopping is in the same category as frequent eating -out.  Both are luxuries that can be avoided since they cater essentially to wants instead of needs. Financial consultants strongly advise against impulsive buying or buying the first thing that is fancied.  They also talk about the danger of buying something as a way of lifting up spirits during stressful times since financial decisions done during this time  are not usually based on careful consideration.

My Say

A vice for the purposes of this article is equivalent to bad habits.  Smoking, drinking alcohol, frequent eating-out and shopping are examples of bad habits that have an effect on the finances of a person engaged in it.  If people are to realize their desired financial goals, it would be best to pay attention to these avoidable expenses so that there will be more opportunities for the accomplishment of bigger financial goals.  It makes much sense to increase savings while reducing vices so financial stability does not remain an elusive dream.