Welcome to Money Demure … our series of simple tips and actionable strategies to outsmart overspending, master mindful spending and take control of your finances, without missing out on the good stuff in life. See that financial responsibility? Very demure, very mindful…
Convenience makes life easier, but those hidden costs can seriously add up, impacting your budget. From delivery fees to subscription overload, let’s break down the true cost of convenience—and how you can still enjoy it … just more mindfully.
Delivery services: easy ordering, hefty fees
Delivery apps like DoorDash, Uber Eats, and Grubhub make ordering food easier, but the fees can make it much more expensive. A typical food delivery can cost you up to 40% more than ordering directly from the restaurant. That’s thanks to added service fees, delivery charges, and tips. Here are some ways to cut down on the cost:
Try pick-up instead
Many restaurants offer discounts if you pick up the order yourself, and even if not, cutting out delivery fees can make a big difference over time. (Bonus: You’ll get some extra steps in.)
Use delivery sparingly
Limit delivery orders to once a week, and plan your other meals with batch cooking or meal prep.
Sign up for membership services
Memberships like Uber One or DoorDash DashPass offer free deliveries and lower service fees for a monthly fee, which could save you hundreds a year if you order regularly. Just be mindful not to over-order.
Fast food: speedy meals, slow financial burn
The cost of grabbing fast food here and there adds up more than you might think. In 2023, people in the U.S. spent an average of $148 a month—or nearly $1,800 a year—on fast food. Here are ways to lower that bill:
Meal prep instead
Set aside time on weekends to batch-cook meals. This way, you won’t be tempted to grab fast food when you’re short on time during the week.
Use loyalty apps
If you do go for fast food, take advantage of rewards apps from places like McDonald’s, Starbucks, or Chipotle. Many offer free items or discounts after a certain number of purchases.
Keep snacks on hand
Keep healthy snacks at home or in your car to avoid expensive, last-minute fast food runs.
Rideshare costs: small trips, big expenses
Uber and Lyft are convenient, but the costs can sneak up on you. According to Business Insider, rideshare users in major cities like New York or San Francisco can spend an average of $54-110 a month on these services, and often much more. Follow these quick tips to lessen your spend:
Switch to public transport or carpooling
Public transit generally costs far less than a rideshare so when you’re tempted to call that Uber, think: will this really save a lot of time and stress? If it’s late at night or you’re seriously running behind, that Uber may well be worth it, but when possible, hop on the subway or bus instead. Doing this even just occasionally will add up over time.
Use fare comparison tools
Use apps like RideGuru or FarePilot to compare prices between Uber, Lyft, and other rideshare services to get the best deal.
Avoid peak times
Avoid surge pricing by checking apps like The Rideshare Guy that alert you to when peak pricing is likely.
The true cost of streaming services
With so many streaming services available, it’s easy to sign up for multiple platforms. Evidence of that: Americans are spending $46 a month on average on streaming services. Here’s how to chip away at that:
Use group plans
Use group plan options like YouTube Premium or Apple Music family accounts, where multiple users can share access for a reduced fee.
Pause subscriptions
Most streaming services allow you to pause your subscription for a month or two. If you’re not watching content on a platform, pause it and come back when new content is available.
Do a subscription audit
Use apps like Rocket Money to track and cancel any subscriptions you’re not using.
Rotate your services
Instead of subscribing to multiple platforms, rotate between them. For example, binge on Netflix one month, then pause it while you switch to Hulu the next.
Set reminders for trials
Use calendar apps or tools like JustWatch to remind you when free trials are ending, so you can cancel before being charged.
Convenience stores: a recipe for overpaying
Convenience stores are known for high markups. A bottle of soda that costs $1 at a grocery store might cost $2.50 or more at a convenience store. Here’s how to cut your reliance on them:
Stock up on essentials
Buy items like snacks and drinks in bulk from Costco or Sam’s Club to avoid frequent trips to convenience stores. Airtight glass jars or plastic canisters can help keep bulk snacks fresh.
Will the short-term cost of stocking up on essentials impact your weekly budget? Access part of your paycheck early with Earned Wage Access and stock up for the long term:
Set a monthly snack budget
If you find yourself frequently buying snacks, set aside
a small budget for it each month to be more mindful and avoid overspending. You might be surprised how quickly you hit the limit (that Swedish candy craze isn’t exactly cheap to get in on).
Use cashback apps
Apps like Ibotta or Rakuten offer cashback deals and discounts even on convenience store purchases, which can help offset some of the higher prices.
MoneyLion has your back
Convenience doesn’t have to drain your budget. With MoneyLion, you can track your spending, set savings goals, and enjoy the things you love—without the financial stress. Our tools help you take control of your finances while still treating yourself.
Ready to manage your money smarter? Download the MoneyLion app today and set up a smart budget included with MoneyLion WOW membership!
