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    Home»Personal Finance»12 Things You Can’t Afford Anymore That Are Draining Your Wallet
    Personal Finance

    12 Things You Can’t Afford Anymore That Are Draining Your Wallet

    Steve AdcockBy Steve AdcockDecember 14, 20234 Mins Read
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    Ever felt like your money disappears faster than you can say “budget”? Well, you’re not alone!

    Let’s discuss 12 everyday expenses that might be stealthily siphoning away your hard-earned cash. From small habits to overlooked costs, it’s time to shine a light on those sneaky culprits.

    Let’s begin with the most controversial.

    Kids

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    Whether children are for you or not is a deeply personal decision, but one Reddit user was brutally honest about the cost of raising kids these days. “The cost of living is so high, and the job market is so volatile, that I wish I didn’t have kids because the stress is insane,” they said.

    Subscriptions

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    It seems like everything is a subscription these days. Not just streaming services like Netflix but also software packages (I’m looking at you, Adobe Creative Cloud), delivery services, etc. You pay whether you use them or not. Great deal for the company. Maybe not a great deal for you.

    Disney World

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    “You can literally fly to Europe and spend a week there cheaper than you can do a week at Disney,” commented one person. The price to take a Disney vacation for a family of four can easily reach the thousands. When you include flights, transportation to and from the park, hotel stays, and the cost of the tickets, don’t be surprised if your Disney vacay costs nearly $7,000.

    Most Fast Food

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    How does an $18 Mig Mac sound? Fast food has quickly gotten very expensive. Panera is largely considered one of the most overpriced fast-food restaurants in existence.

    One Redditer lamented the high price of the restaurant: “I have loved Panera for almost 15 years, but it’s been a while since I went there. Wanted to get lunch delivered yesterday, so thought it’d be nice to have Panera. Chose the You Pick Two option, soup was $9 and a sandwich was $17. $26+tax for a freaking lunch at Panera??? I could get a gourmet pizza for that price.“

    Cable Television

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    The average cost of cable television has hit $83 a month, a far cry from what we used to pay for the privilege of our evening entertainment. Many have canceled cable television for streaming services, but be careful. Many people pay as much for multiple streaming platforms as they did for their cable television package.

    Junk Food

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    Like fast food, junk food is also getting expensive. Potato chips, doughnuts, and canned foods are not only bad for your health, but you’re paying more for the privilege of eating these junk items.

    Concerts

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    Concerts have been outrageously expensive in recent years. Though ticket prices vary, SeatGeek told the Wall Street Journal that the average concert ticket price has doubled in the past five years, increasing from $125 to a whopping $252 in 2023.

    Drinking at Bars

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    Alcohol isn’t cheap, and that’s especially true when you’re drinking alcohol at a bar. Going to a bar every now and then is fine, but if you make a routine out of it, those bar tabs can easily set you back hundreds, or sometimes even thousands, every month.

    Boxed Cereal

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    Cereal prices have increased by 14%, according to the Consumer Price Index. Most cereals now cost over $5 a box, and often more than that. You can thank rising grain and sugar costs for the increase in the price of boxed cereal.

    Pizza

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    You know things are getting back when a large pizza pie will set you back nearly $20. Pizza is the most expensive in Washington state, where the average pizza costs over $23. Oklahoma residents have it good for pies, with an average price of “only” $12.70.

    Farmer’s Markets

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    Farmers’ markets have traditionally been more expensive than grocery stores due to the availability of organic vegetables by local farmers. But you might be surprised at how many items at farmers’ markets aren’t local.

    As HuffPost reported: “But you should never assume everything sold at a farmers market is local. That’s because produce resellers ― vendors who purchase fruits and vegetables from a wholesaler to resell to consumers ― might be disguised as local farmers at your market. In other words, they could be selling you produce from sources located far outside your state (or country).”

    Haircuts

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    Depending on the type of haircut, they can be expensive. The average price of a woman’s haircut is nearly $60+ per appointment. For men, between $25 and $50 is common. As men tend to get haircuts more often than women, men could pay more overall even though each cut is less expensive than a women’s cut.

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    Steve Adcock
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    Steve Adcock quit his job after achieving financial independence at 35 and writes about the habits millionaires use to build wealth and get into the best shape of their lives. As a regular contributor to The Ladders, CBS MarketWatch, and CNBC, Steve maintains a rare and exclusive voice as a career expert, consistently offering actionable counseling to thousands of readers who want to level up their lives, careers, and freedom. Steve lives in a 100% off-grid solar home in the middle of the Arizona desert and writes on his own website at MillionaireHabits.us.

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