Lots of important financial decisions are huge: where to invest your money, how to find the best loan terms, how to save for retirement, etc. But when we only think about the big-picture decisions, we ignore that sometimes financial responsibility really is about noticing the small things and making little changes that build to something much larger. Case in point: Water.
Do you consider how much water you drink, when, and how? Are you someone who knows they should drink water, but always ends up buying a soda or a coffee instead? Even if you are drinking water, is it tap water, or are you buying pricey packs of bottled water? The simple act of drinking more water can be a huge money saver if you think of it as a lifestyle choice. But how?
Think how much money you spend per week on random drinks. A coffee to start your day, a can of soda with lunch to pick you up in the afternoon, a beer or cocktail with your dinner – it all adds up. It’s not tough to ask yourself if you really need that 2 p.m. can of Sprite, or if a bottle of water will do the trick just fine. Or, rather than buying a pricey latte each morning, brewing a cup of tea with your favorite store-bought tea bags instead can get you the same caffeine fix for a fraction of the price.
This tip is probably obvious, isn’t it? But it’s still worth starting with, as it’s a huge money-saving opportunity. Imagine spending even $5 less per day on coffee or soda by drinking water instead, and calculate your savings: That’s over $1,800 saved per year! And no, skipping the Starbucks is never going to fully fund your retirement, but if you stick that $35-per-week savings into an interest-bearing or investment account, you’re well on your way towards building the sort of healthy cushion that keeps you more stable and above water (pun intended) in the case of emergencies and helps you build wealth for the future.
Not only does carrying your own water mean you spend less on pricey coffee, soda, and sports drinks, but it can also help keep you from impulse-spending on even more unnecessary expenditures. Think about it: how many times have you stopped by a vending machine for a can of Coke, only to walk out with a candy bar from the snack machine next to it? Or, how many times have you skipped bringing lunch from home because you told yourself “I’ll be going to that cafe for my mid-day coffee anyway; I might as well get a sandwich and chips while I’m there?” Or even popped into Target for a thirst-quencher and, well… we all know how hard it is to leave Target without spending more than we ever anticipated.
There’s nothing wrong with enjoying small treats in life, but if you’re committed to saving every penny, a simple act like drinking out of your own water bottle can steer you away from temptation by helping you completely avoid some of the most common impulse-spending opportunities in our day-to-day lives.
Okay, bear with us – this one is maybe a bit more abstract, but it’s important! It’s been well-documented that drinking water regularly has massive health benefits, especially if by doing so you also cut out or cut back on beverages that are high in calories, caffeine, sugar, artificial sweeteners, and more. Drinking just plain old water keeps us properly hydrated, lubricated, and helps our bodies flush out our systems and process waste more effectively.
So what does this have to do with money? Well, think about it: The healthier you are, the less you’ll have to go to the doctor. That means fewer medical expenses digging into your emergency funds, fewer sick days taking you away from your work and income source, and an overall less stressful life. You may find yourself with that extra bit of energy you need to pick up an overtime shift or even start a side hustle.
Let’s get one thing straight: we’re human, and we know that sometimes the simple pleasures in life are what keep us going. We’re not advocating that you cut out every single little treat that brings you happiness in lieu of living solely on H2O, but we do want you to think critically about how small decisions can add up to something large.
Sure, water won’t do it all on its own, but as part of a healthy and fiscally-literate lifestyle, this seemingly small change can give you out-size benefits. And if you need a bit of help? At Spotloan, our simple online application process can help you qualify for the money you need, even if you have bad credit or need a same-day loan. All you have to do is go fill out our application to see if you qualify, and you could receive a decision within minutes. Fill out our application now!