“I will plug the ‘leaks’ in my budget”
Even if you don’t realize it, you have some issues in your budget that “leak” money every month, Thakor says. “I love to savour a good book over a cup of artisanal third-wave coffee yet many of my financial peers rail against the horrors of the ‘$5 latte’ and would say that’s one of the first things I should cut,” she says.
“But in analyzing my budget, I realized that I am actually underspending in that key area of life given the enormous joy it brings me and thus I’ve found ‘leaky funds’ from my online streaming subscriptions—things that don’t bring me as much joy—to allocate toward it.”
