9 daily vices that are damaging your health & wallet

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We’ve all got our guilty pleasures, right? But have you ever paused your Netflix binge or put down that double cheeseburger to consider what those vices are really costing you? The damage to your wallet might be sneakier than you think!

You know those daily trips to the coffee shop or the occasional fast-food frenzy that feels oh-so-good at the moment? Sure, they’re not total game-changers, but boy, can they nibble away at your bank account and your health. Your savings might be silently crying for help while you sip that latte.

Having a vice or two is just human, but watch out! Let them run wild, and they might turn into budget busters. Most things are cool in moderation, but a little peek into how they might be reshaping your life and bank balance can be a real jaw-dropper.

So, grab some popcorn (if that’s not your vice!), and let’s dive into some of the priciest everyday indulgences and the whopping sums we’re tossing at them.

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Coffee, coffee, coffee

Ah, coffee! The delightful nectar that brings joy to our mornings or offers solace on a rough day. Who doesn’t love grabbing a grande Café Americano from Starbucks on the way to work? But wait, let’s spill the beans on what this daily ritual costs.

Depending on where you live, your beloved cup o’ joe might be setting you back $3.35 to $3.95 a pop. If you’re indulging every workday, that’s $16.75 to $19.75 a week. Do the math, and it’s a caffeinated budget hit of $871 to $1,027 a year! Want the fancy seasonal drinks? Better perk up your budget!

But hey, don’t let this brew trouble. You can still get your java jolt by making coffee at home and bringing it with you. It’s a latte cheaper, and you get to control what goes in it, which is never a bad thing when it comes to sugar intake.

Potential cost of this vice: $871-$1,027. Now that’s an espresso shot to the wallet.

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Playing the lottery

Gambling isn’t all about dazzling casinos, flashy slot machines, and high-stakes poker games. Nope, it can be as simple as scratching off a lottery ticket, placing a bet on your favorite sports team, or joining in on a lively bingo game.

You might think it’s all in good fun, but those dollars can add up quickly! On average, Americans shelled out $69.52 per person on lottery tickets alone in 2018. And our friends between 65 and 74? They spent nearly double that, splurging a whopping $132.43.

Now here’s a wild fact from Wonderopolis, a part of the National Center for Families Learning: your odds of winning the big lottery jackpot are a jaw-dropping 1 in 14 million. Yikes! So instead of dreaming of striking it rich, you might be better off stashing that cash or even picking up a book on investing.

Sure, a little flutter now and then can be thrilling, but that gambling vice could be costing you $132.43 a year on lottery tickets alone! Maybe next time, save those coins for a rainy day, or hey, even a real trip to Vegas?

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Smoking

Whether it’s puffing on the traditional cigarette or a modern day e-cigarette calling your name, this vice is still burning holes in many American wallets, despite a decline in cigarette sales.

So, let’s light up the numbers, shall we? In 2019, we still torched around $6 billion on cigarettes in the U.S., and vaping was on fire with a 122% increase.

Cigarettes? They’ll cost you anywhere from $4.62 a pack in Missouri to a whopping $10.67 in New York, according to the CDC. Just a pack a week? You’re still smoking over $200 a year. A pack a day? Well, buddy, that’s a blazing $1,686.30 annually.

And if you’re riding the vaping train, you’re not puffing away any savings. Some folks are spending around $250 a month on vaping! The average? $50 to $75, adding up to $600 to $900 a year.

Potential cost of this vice: $1,686.30 per year. Now that’s a smokin’ bill!

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Eating out and fast food

Are you hitting up the drive-through a couple of times a week? Hey, you’re not alone! About 36% of Americans are right there with you, munching on fast food on any given day and eating out up to three times a week. A quick burger here, some fries there, and boom! You might be spending more than the average $6 per meal.

Now, let’s do some fun math. All those tasty trips to your favorite fast-food joints could be gobbling up to $936 a year from your wallet.

Want to save some cash and maybe boost your health a bit? Cutting down on those frequent fast-food flings might be your ticket to success. Who knows? You could become a kitchen whiz, crafting healthier, wallet-friendly meals.

The potential savings from dodging this vice? A juicy $936 per year. Now that’s a super-sized deal.

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Beauty products and services

Want to look fabulous? Of course, you do! But here’s the kicker – glamming up comes with a price, and it might be heftier than you thought. In 2019, Americans splurged a cool $786 on salon trips, mani-pedis, and all those delightful grooming goodies. For some, the number was even higher!

Think about it – if you’re the kind of person who just can’t resist a nail refresh every couple of weeks, you could be tossing out anywhere from $50 to $100 a month. A basic manicure might set you back $20 to $50, and a pedicure another $35 to $40. Feel like splurging on a little extra sparkle? Watch out! The numbers can climb quickly. You might be shelling out a whopping $600 to $1,200 per year just on those dazzling nails.

So, the glitz and glamour of this vice? It could cost you a smooth $1,200 yearly. Hey, at least your nails will be on point!

Image Credit: DepositPhotos.com.

Alcoholic beverages

Who doesn’t enjoy a relaxing drink with friends or a special toast on a big occasion? But let’s face it, some of us take “cheers” to a whole new level.

According to the number-crunchers at the Bureau of Labor Statistics, back in 2019, we collectively coughed up a staggering $549 per person on booze. That’s not even the half of it! A CDC report spills that excessive drinking drains a mind-blowing $249 billion from taxpayers each year. We’re talking lost productivity, skyrocketing healthcare costs, and messy legal fees. Oh, and it’s causing up to 95,000 deaths annually. Gulp!

Just imagine, even if you keep it chill with just a moderate two drinks a week, it could cost you a not-so-cool $10 to $25, depending on whether you’re sipping bargain brews or swanky cocktails. That’s $40 to $100 every month or up to $1,200 a year. Think about it: that’s enough to kickstart your emergency fund or seriously tackle some pesky student loans or credit card debts.

So, the sobering cost of this vice? $1,200 a year. Maybe it’s time to rethink that nightly nightcap?

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Shopping

So you had a rough day and find yourself browsing online stores for a little retail therapy. It’s fun, right? But hold on to your wallet! Those spontaneous splurges might feel great in the moment, but they can quickly add up.

Picture this: Americans, on average, were dropping $182.98 a month on impulse shopping as of April 2020. Do the math, and that’s a staggering $2,195.76 a year! Imagine what else that money could do for you, like boosting your emergency fund or slashing that debt.

Next time you feel the urge to click “add to cart,” maybe take a deep breath and think twice. Consider sticking to a shopping list or even taking your credit card info off those online portals. A little extra effort to type it in might be just the speed bump you need to curb those impulse buys.

Cash saved from avoiding this vice? $2,195.76 per year. 

Image Credit: DepositPhotos.com.

Drinking soda

Oh, the sweet allure of soda! Seems pretty harmless on your wallet, right? Well, pop open the lid on that notion, and you’ll discover a fizzy financial (and nutritional) reality.

Let’s dive into a realistic example. Picture this: you’re glugging down three to four 12-ounce sodas a day, nearly every day. With your local grocery store’s eight-pack of your go-to brand costing $4.49 (plus tax, of course), each bubbly bottle sets you back around 57 cents.

Now, three of those a day? That’s only $1.71. But wait, let the soda story fizz a bit, and boom! You’re spending a whopping $51.30 a month, bubbling up to $615.60 a year. All for something that’s not exactly giving your health or wallet a refreshing boost.

Do we expect you to go soda-sober after doing this math? Not realistically! But you can cut back, and guess what? Your savings account ( and waistline) might even start throwing a happy dance party.

So, the fizzy cost of this vice? A bubbly $615.60. Next time you reach for a soda, maybe that number will tickle your financial taste buds.

Image Credit: DepositPhotos.com.

Speeding tickets

Ever found yourself pushing the pedal to the metal when you’re running late? Sure, it’s tempting to speed up, but hold onto your hats, folks, because having a lead foot might just drain your wallet!

Let’s take a joyride through the cost of speeding, shall we? That ticket for going up to 15 mph over the limit? It might only be $20 in Oklahoma, but zoom over to Colorado, and you’re forking over $135. And we’re not just talking about the ticket here. Buckle up for court costs and a possible bump in your auto insurance rate.

Speeding’s not just a hit on your wallet. It’s also the leading behavior linked to fatal crashes

https://www.iii.org/fact-statistic/facts-statistics-aggressive-driving

, making up a scary 17.2% as reported by the Insurance Information Institute.

So, here’s a little driving wisdom: Want to save money on car insurance? Take your foot off the gas and enjoy the ride. Your wallet, and everyone else on the road, will thank you!

Potential pit stop cost for this vice: $135 per ticket

Image Credit: iStock / yevtony.

How to live well without draining your wallet

Okay, pals, we’ve been down the vice-laden path, and let’s face it – we might need a bit of a “vice vacation.” But don’t fret! Living large and healthy doesn’t have to come with a king-sized price tag. Let’s sprinkle some fun into savings and offset some of those pesky spending habits. Ready? Here’s the good stuff:

Get a Rewarding Credit Card: Find a credit card that treats you right with rewards, cashback, or travel points. Just be a wise spender and pay off the balance every month. Otherwise, those pesky interest rates will sneak up on you.

Shop Smart with Cashback Apps: Apps like Ibotta or Drop aren’t just fun to say; they’re a blast to use! Get the best deals and earn some cash while you’re at it.

Challenge Yourself to a Vice Vacation: Pick a vice, any vice, and take a break from it for a month (or more!). Tuck away the cash you save in a high-yield savings account and watch it grow.

Indulgence Tax: No need to ditch your favorites entirely. Just “tax” yourself every time you indulge. Got a $5 coffee? Put $5 in your savings. It’s like treating your future self.

So there you have it, friends. You can still live your best life, and with a little creative thinking, grow your savings too. Who said being responsible had to be boring?

Image Credit: DepositPhotos.com.

Now what?

None of these habits are downright evil (well, except maybe that speeding one — that’s just downright dangerous). But when they start nibbling at your wallet or chomping on your health, they might just be trotting into vice-ville.

How about a little experiment? Let’s call it the “30-Day Vice Vacation.” Go without your favorite little indulgence for a whole month. No, not forever, just 30 days! You might stumble upon some healthier options, or at the very least, become a mindful indulger.

So, whether it’s that latte love or the fast-food frenzy, take a break and see what happens. Who knows? You might just find a new, healthier passion or save enough for that thing you’ve been eyeing!

Image Credit: fizkes / istockphoto.

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