7 Things To Avoid Doing With Your Money on Every Day of the Week

Incremental changes can make a big difference in your life, for better or for worse. In Darren Hardy’s book “The Compound Effect: Jumpstart Your Income, Your Life, Your Success,” Hardy wrote: “Isn’t it comforting to know you only need to take a series of tiny steps, consistently, over time, to radically improve your life?”

If you are looking to boost your financial status, sock away more cash for retirement or pay down debt, making one small change every day of the week can help you get there, according to financial experts.

It might be a personal finance cliché, but Suze Orman has spoken out many times against purchasing coffee outside of your home. “I wouldn’t buy a cup of coffee anywhere, ever-and I can afford it-because I would not insult myself by wasting money that way,” she told CNBC Make It.

When GOBankingRates spoke to two avid café-goers, however, they had other views.

“Beyond the sensory delights, my latte run is a linchpin of routine and reflection,” Kayden Roberts of CamGo previously told GOBankingRates. “It’s a pause button in a fast-forward world, a daily investment in mindfulness.”

If you enjoy your weekly, or daily, latte, and you’re on track with your financial goals, sip away. But if you’re looking to save money or pay down debt, you could save $1,300 per year by taking Orman’s advice.

Before you stop at Starbucks, Todd Stearn, founder and CEO at The Money Manual, suggested, “Ask yourself: Is a Monday morning drive-thru coffee drink the motivation getting you out the door and into your week?”

You made it through Monday — with or without your fancy latte! But, studies show that Tuesdays between 10:30 a.m. and 2:30 p.m. are the most stressful time of the five-day work week, according to The Muse.

If you’re like many people, you might cope by impulse shopping on Amazon during your lunch break. Before you click that enticing “buy now” button, think twice.

Are there more productive and less expensive ways you can relieve stress, such as a short walk with a colleague in your office?

If impulse spending becomes a problem with your budget, consider removing your credit card information from Amazon, Temu and other sites where you shop regularly. Add an item to your cart, but wait until you get home to decide if you still need it.

You made it through Tuesday. But now you’re grocery shopping after work and Aldi has launched its new releases in the center of the store. There’s a reason Aldi enthusiasts have dubbed this department “The Aisle of Shame.”

You are likely to have regrets about some of your Aldi non-grocery purchases. While a $69 countertop ice maker or a $4.49 Huntington Home 3-wick scented candle seem enticing, do you really need these items? Would you look for them if they weren’t right in front of you at Aldi?

In the words of Warren Buffett, “If you buy things you do not need, soon you will have to sell things you need.”

We’re nearing the end of the week and you might be tired of cooking, working and, well, adulting in general. It becomes far too tempting to pick up takeout or even place an order through GrubHub. But that weekly decision could sabotage your financial goals.

“If your kids have afterschool activities, it can be easy to justify grabbing a quick bite,” Stearn said. And with summer here, you just might prefer not to cook.

“With the price gap between takeout and home-cooked meals widening, you’re much better off planning ahead,” Stearn suggested. “That might mean cooking a double portion of a weekend dinner your family loves and freezing half for a weeknight when there’s just no time.”

Alternatively, make sandwiches or salads at home, or have a leftover night where everyone gets to eat whatever they can find in the fridge.

If you’re waiting until Friday to fill your gas tank, you could be throwing money away. Patrick De Haan, lead petroleum analyst for GasBuddy, told The Hill that gas prices tend to rise during the week, reaching their peak on Friday and Saturday.

A study from GasBuddy revealed that Friday is the most expensive day to buy gas in 21 states and Saturday is the worst day in 16 states.

If you can, aim to fill up earlier in the week; gas is cheaper on Mondays in 30 states and Tuesday in most others.

For many people, dinner and drinks on Saturday night is part of their social routines. But you could be spending money you don’t have to. Instead, consider gathering for pizza and beverages at each other’s homes on rotating weekends.

“Bar alcohol markups average a whopping 200% to 300% on beer and 400% to 500% on liquor,” Stearn said.

Not every finance expert believes that your Saturday night fun or Monday morning caffeine fix sabotages your financial security. Failing to make a budget could hurt you more than frivolous purchases.

Sunday night is a good time to review your income and expenses for the week, especially as they relate to your monthly budget, which includes fixed expenses like housing, car payments and utilities.

“Your latte budget should be included in any good financial plan that considers your regular and ongoing cash flows,” said Frankie Corrado, CFP and managing director at Robertson Stephens.

“The truth is, if you like your Monday morning latte or weekend drinks at the bar, what income do you need to earn to support that and still save enough for future you?” he said. “If you love lattes, who am I to judge that it’s not worth it for you?”

Essentially, it’s up to you to decide which purchases to avoid and which will enhance your life. But cutting back in a few areas can help you fund the things that really matter to you.

“Instead of austerity, I believe in abundance. At least that way, there is an appropriate incentive process,” Corrado said.