“A small leak will sink a great ship.” –Ben Franklin.
Little expenses easily add up to a large amount. And the problem is that we are wired to incur small expenses repeatedly. We wrongly believe that the amounts won’t add up.
It is deceptive to think that one will spend less by fueling a few liters daily instead of buying a full tank of fuel for their car.
A few beers taken everyday after work will really add up to a lot of money at the end of the month. Buying takeaway coffees and food daily will soon add up. Small amounts spent on online gambling sites will create a deep hole in your wallet. Small loans borrowed from friends will amount to a mountain of debt. Tiny phone bills and charges can add up. Small amounts spent on addictive habits can really cause one a lot of pain.
The way to manage little expenses is to make them conscious. Simply recording and reviewing all tiny expenses will bring them to light. It then becomes a matter of gradually controlling them thereafter.