How ‘convenient spending’ may be silently draining your budget

(InvestigateTV) — Subscriptions, takeout, delivery apps and coffee on the go may seem like small expenses, but a personal finance expert says those purchases can quietly drain a budget by hundreds of dollars.

The pattern is known as convenient spending — using money to save time or provide instant comfort. Kionnie Epps, founder of the YouTube channel The Responsible Homegirl, said many people do not realize how much those small purchases add up.

Epps said convenient spending often goes undetected because each individual purchase feels minor.

“You think ‘Oh, I should be making more money, I don’t have enough money,’” Epps said. “You have the money, but it’s these small little pockets of money that we spend that we are not as intentional with, that we don’t pay attention to — and if we’re honest, convenient spending is expensive.”

Epps said the problem is compounded by a culture that prioritizes speed and ease, making it easier than ever to spend without thinking.

Epps recommended starting with a spending audit, reviewing bank statements from the past 30 to 60 days to identify where convenient spending occurred.

“I would say do an audit, because sometimes you may think you’re not spending as much money but once you see it in black and white you’re like ‘hold up, I gave UberEats way too much of my money or I gave a subscription service way too much of my money,’” Epps said. “So go back in those bank statements — I would say the past 30 to 60 days — and look at how much convenient spending you did.”

Epps said the next step is an honest assessment of each purchase — whether a delivery was necessary or a trip to pick up the item was an option, and whether eating out could have been replaced with a meal prepared at home. She said reviewing spending on paper gives a clear picture of where cuts can be made.