As the old adage goes, “a dollar saved is a dollar earned but seldom vice versa,” – Evar Esar. We all want to see our money stretch and go a long way. Have you ever wondered where all your earnings go? Well, it’s the “not so good habits” that we inherit that are to blame. We constantly hear of how the rich and successful consciously adopt habits that work for them. However, for most of us, we are not sure where to start so that we too can be on the winning side. Well, look no further as l uncover 10 habits to consider giving up in 2022 and beyond as they drain your wallet.

happy new year 2022
Happy New Year 2022

1. Give up the daily popular beverage – coffee

Getting hooked on liquid gold to start your morning is easy. Consequently, to say coffee is big in Australia is an understatement. Aussies and the world at large love their coffee. This doesn’t come as a surprise because caffeine is a natural stimulant that keeps you awake. Much-needed stimuli especially if you have a long early morning commute to work.

Now let’s understand the figures

According to Statistics, 2018 revenue on the Australian coffee market was $5.5 billion USD and forecasted to rise. A cup of flat white will set you back on average $3.95 in New South Wales and $4.50 in Northern Territory in 2020. An astonishing figure of approximately 19 million Australians, 75% of the entire population consume at least one cup of coffee a day. American global giant Starbucks reported a drop of 38% amounting to a respectable consolidated net profit of 4.2 billion for 2020 Q3 largely due to the impact of Covid-19.

happy new year call
May your coffee be strong and your Monday short…

How much do you spend on coffee?

For all the dedicated and religious members of the cappuccino, latte, flat or white club let’s see how much you actually spend on coffee. Here is how much you would save if you kick this habit assuming the price and frequency are constant.

$3.95 per day = $27.65 per week which equates to an annual average of $1,438

The figure is double for women who are said to spend on average $2,300 per annum on coffee.

It’s fair to say coffee addiction can be pricey judging from these figures. If you channel this figure to a regular savings account with a modest earning rate, you will considerably have a decent saving over time. Now, to me, that’s worth considering the change.

How can you save on coffee?

It’s all good to talk about habits but without providing feasible solutions we won’t see any changes in 2021 and beyond. Quitting any behavior or habit takes time; here are some practical and easy solutions for your consideration:

  • Brew your own coffee at home. On average this will cost you 18 cents (not factoring in the cost of purchasing a good coffee machine).
  • Try and cut back on the number of times you purchase a cup of coffee or alternatively go for a smaller size coffee cup. The smaller the cup the cheaper the price.
  • Most coffee shops now offer a discount to customers who bring their own re-usable coffee cups. Consider being part of this initiative as it also carries great environmental benefits that reduce use of plastic.
  • If you prefer coffee from a certain place, make sure you make use of their loyalty card. Most will give you your tenth cup for free.

Do not save what is left after spending, but spend what is left after saving.


How well do you know your coffee?

3 Fun-facts about coffee
  • Coffee was discovered by a goat herder who noticed that goats became energetic after eating berries from a certain tree and didn’t want to sleep at night.
  • Before coffee, beer was consider to be most common breakfast drink. Weird right!
  • Brazil produces around 40% of the world’s coffee making it the world’s largest producer.
  • The worlds most expensive coffee, Kopi Luwak, comes from animal poop. More specifically, from the Asian palm civet, who eats the coffee cherries, which are fermented as they pass through the civet’s intestines. This coffee is sold at up to $2800 per kilo!

2. Bottled Water

The history of bottled water

Have you ever wondered how the world got here! How did we develop a culture that required clean bottled water yet the product was already available for free? Well, our reverence for “pure, clean spring water’ dates back as far as the Industrial Revolution. The demand for bottled water was fuelled in the large part by spa-goers and the water-therapy trend. Nowadays a large number of people are religious and loyal to bottled water globally. As you know if you can’t beat them you join them.

man holding bottled water
It’s a lifestyle choice, make it count..
Bottled water market

The trend has continued to strengthen over centuries, owing to health and wellness concerns. Some people still laugh at the idea of replacing the humble tape water for the bottle. Not to mention the environmental concerns over the negative impact that plastic bottles present giving beverage companies the urge to resort to better alternatives. However, the lucrative global bottled water industry is forecasted to scale and rise, “the industry was valued at USD 185 billion in 2015 and is expected to reach USD334 billion by 2023” – Market Report World.

How much does bottled water cost?

We know from the figures above that the demand for bottled water is strong but how much does it set you back dollars wise. On average the cost of bottled water in Australia is $2.75 per liter. According to Statista, the market segment is projected to reach USD 890 million in 2020.

Time to ditch the bottled water

I know you agree with me that these statistics and figures are alarming. The good thing is that you now know what to save on next time you hit the supermarket. So, then how and why should you consider the switch. Here are some tips or reasons to consider:

  • During the “keep Australia Beautiful” week that is held in August each year, Aussies are urged to cut down on bottled water consumption. Largely because almost 375 million of our bottles end up in landfill and waterways, impacting the environment and marine life.
  • Australian tape water is safe and amongst the best in the world.
  • it helps eliminate the ongoing plastic packaging issue and you can help make the world a better place.
  • Lastly, you get to save more of your precious money.

3. Eating Out Daily

How often do your eat out?

Australians are not cooking at home hence, this phase that we are in now is expressed as a “dining boom”. This is because of the staggering figure which is approximately $45 billion per annum spent on eating out. On average an Aussie family will dine out at least 3 times a week, spending an average of over $100 at a restaurant. The rise of companies that make it easy for you to order takeaway like Uber-Eats has made online ordering a breeze. But just like everything else they are adverse impacts on your bank balance.

Based on the above figures an average Australian family could re-direct the money towards paying off their home loan or put it towards savings. I know what you’re thinking, life is for living and yes, l certainly agree with you but we all have to understand the implications of our choices.

dinning out elegant table settings
A strong culture of dining out – food & wine people
How do you spend less on eating out?
  • The obvious answer but not always the best one is to have a culture that cooks at home.
  • However, if you still have to eat out you can look at reducing the take-away bill by opting to pick up our food. As some restaurants offer a discount if you can pick up.
  • Consider Sunday meal preparations if you are full time working parent.
  • If you do go to a restaurant you can pick from their specials menu, snag online coupons and deals.

4. Spending Money At The Bar

Night outs are a must-have especially towards the festive season and if you can afford it by all means support local business. It’s a noble thing to do but know the price you want to put on your bar tab.

wine glasses with drinks
Leave a tab at the bar..

It’s easy to lose track of your spending and countless people wake up to alarming credit card balances in the morning. Be responsible with your choices and alternatively have set habits or practice having one glass every hour that way to stay clear of breaking your bank balance.

How much do people spend at the bar?
  • Set a limit for your bar expenses.
  • Look for specials or join membership programs that make you eligible for discounts.

5. Paid Phone Apps and In-App Purchases

I have 3 children under the age of fifteen who love phone apps. From gaming to exercise apps we have it all. Software developers and companies are constantly seeking new and improved ways to make more and more services and products a one-touch click away. The world loves such innovation and rewards these creations with popularity and billion-dollar profits.

It’s an app world..

As human beings are easily influenced and want to belong we are bound to do what our neighbors, friends, and colleagues are doing. If it’s downloading the latest app on our app store so, then be it. It really doesn’t take much to get most people of the latest technology phase or trend. Arguably, they make our busy lives manageable. After all, the world we live in is in fast-paced mode and we all feel like we have a lot of catching up to do. If that sounds familiar you are not alone. Let’s look at the numbers, as you know numbers don’t lie:

Statistics On Apps Spending

Consumers downloaded 204 billion apps in 2019—and that number continues to climb. Over a billion mobile games downloaded per week Q2 2020 – Source: AppAnnie

The Apps Market

This market is as big as they come. The world smartphone users continue to rise and are estimated to be over 3.5 billion in 2020.

World’s Most Popular Apps in 2020
  • Facebook
  • Facebook Messenger
  • Instagram
  • Gmail
  • Youtube
  • Whatsapp
  • Skype
How do you reduce costs on apps?
  • Monitor in-app purchases closely
  • Use a password to protect your app store especially if you have younger children
  • Have a set family budget and only purchase apps that you will utilise.

Related Post: The Lucky Colors for New Year 2022

6. Overpriced Mobile Phone Plans

It’s no secret that we are a generation that is very fond of mobile phones. Phone companies are well aware of this fact. They offer numerous phone plans and bundles in the market today. This is a good thing for you as a consumer because you have good choices to suit your needs.

Admittedly, mobile providers are in business and like any other business, they need to make a profit from the products and services they provide. No wonder they won’t normally show you their cheapest deals. Therefore, the responsibility is yours as a consumer to make informed buying decisions. You should ask for deals, do your research and make comparisons before selecting which plan best serves your needs. Take into consideration the price and discounts available so that you can best maximise your purchase.

Tactics to consider when looking for a better plan
  • Firstly, take time to shop around for a product that suites your needs
  • Secondly, consider pre-paid plans when comparing packages and products
  • Lastly, once you find a suitable provider consider negotiating further. It’s often useful to come armed with comparable deals from other providers. Simply state that another provider has this particular deal and ask if they can adjust the price on one of their packages to match it. Remember, the worst thing that can happen is that they say “no.”
Look around for the best plan..

7. Not Searching For Discounts

Ignoring coupon and discount sites can drain a hole in your wallet. Whist for most it’s normal to pay the full retail price it’s a habit that you should consider changing. Not using coupons or deal sites means that you are paying too much. Everyone loves to save a dollar or two. Therefore you should also make it a habit to browse sites that offer valuable coupons before making your purchases.

Some examples of discount sites in Australia

8. Lottery Tickets

Let’s face it, Aussies like to play the lottery. I know a lot of people who swear by this. I don’t blame them because the sound of owning a beachside luxury villa and no work will definitely interest many of us. It’s these life-changing thoughts and images that keep you believing that your lucky day in the lottery world is coming. Well, in all honesty, l have entered a few Powerball bets myself so I’m definitely not judging you. Besides, as the saying goes, “you have to be in it, to win it”. But when does a seemingly simple habit become unhealthy for you? Arguably, society has no true measure nor answer to such personal decisions however we can only go by the facts.

Admittedly, in reality, the lottery winning odds don’t stack up well for most of us. So, let’s look at the numbers and trends of this industry.

You have to be in it, to win it!
Lottery Industry Facts

Australian lotteries have enjoyed a fascinating history that dates back to the turn of the 19th century. The mystery and thrill of the practice have captivated players for decades. Who doesn’t like an adrenaline rush from time to time? It’s no wonder, “the industry revenue is expected to grow at an annualised 0.4% over the five years through 2019-20, to total $6.9 billion”, Ibisworld.

How much do people spend on Lottery?

Compare the Market reports suggest that in Australia regular lottery participants people spend on average $695 annually. Furthermore, it’s reported that the Lottery office reported a 108% spike during the height of the lockdown phase in May 2020.


The odds of scooping the first price on Powerball jackpot stand at 1: 292,201,338. Those odds are obviously a lot better for smaller cash prizes. Arguably, as a regular player you have these options available:

  1. Reduce the number of times you play. Less games mean less money you invest on lottery tickets.
  2. Consider playing as a group so that you can split the costs’
  3. Consider putting your money somewhere else where you have better odds of making some form of return.

9. Credit Cards Fees

It’s a good idea to ask for a better rate from your service providers. Adopting a curious mindset that constantly seeks better and cheaper fees is a good idea. The lucky part is that most credit card providers want to retain their customer base. Therefore, they have great competitive deals and all you need to do is ask. As a valid consumer, you should not be afraid or embarrassed to seek a discounted lower rate. You might also find our previous article that looks at the difference between good debt and bad debt beneficial.

Aim to save more and spend less..
Ways to save on fees
  • Ask and negotiate for a better and lower interest rate.
  • Shop around and always check what other institutions are offering. Compare products and rates closely.
  • Check with your financial adviser to see if you can consolidate your credit cards debt into one for easy management.
  • Always pay off your credit card repayments on time to avoid additional late fees.

10. Unnecessary Ubers

If you can walk there, or catch a train or bus, by all means, do so. Better still getting a free ride from your neighbor or workmate if they are going your way is always a better alternative to calling an Uber. Unnecessary Uber rides are costly. It’s a habit that will quickly spiral out of control if not curbed on time. No doubt Uber rides offer flexibility and convenience. Therefore, by all means use it if you need it but be mindful that if done regularly it can be costly.

To Sum It Up

Here you have my list of areas you can consider cutting down on or giving up in 2022 and beyond so that you reduce outgoing expenses. As always l value your feedback and will like to know what habits have saved you money in the past. Share your valuable thoughts in the comment section below. Till next time – let’s toast to a great new year.

Previous articleAtlanta Georgia Travel Guide
Next article10 Cosy Inspirational Home Décor Themes (It’s All In The Details)
I'm passionate about spreading positivity, and inspiration so that l can help others reach their greatest potential. I believe that we all owe it to ourselves to live a meaningful life and live it well. I am a naturally curious person, favour my creative side of thinking, and enjoy researching new topics and motherhood. I hope you find my digital storytelling intriguing and inspiring. I started WatuDaily to serve as a go-to source for families on various topics such as (home & living, travel, lifestyle, and wellness/success). – B Business – Financial Planning (RMIT)