By simply not spending so much money on booze, your finances will improve. Research from Alcohol Change UK, shows the average drinker in the UK spends a whopping £62,899 on alcohol over the course of a lifetime.
That alone is a huge win, but it’s not just the cost of booze and the direct expenses (taxis, takeaways, replacing lost wallets and phones etc after a night out) that were negatively impacting my financial situation.
When I was drinking, I had little motivation or ability to be bothered about what I would call ‘life admin’. At the weekend I was smashed, and during the week I was just trying to make it through the day at work. Anything more than that seemed like a struggle.
Simple things like getting refunds on clothes I had bought from the internet but didn’t want. It seemed like a huge burden to have to package them back up and take them to the post office. An insurmountable task. I used to keep clothes in my wardrobe that still had tags on, knowing I would never wear them, rather than go through that. Stick it in the back of the wardrobe and forget about it. Hope it goes away
I would put off opening letters that looked official for days, sometimes weeks. When I eventually did open them and they required some sort of action, I would put off said action until the deadline, or often miss it. Stuff them in a drawer and forget about it. Hope it goes away.
Of course, none of these things ever do go away. And whilst you are waiting for them to go away, they still sit at the back of your mind, increasing your anxiety and feelings of despair. You just make the problem worse and it snowballs.
The first letter which was a friendly payment reminder for your upcoming credit card bill, and could have been dealt with instantly, has now become several, much less friendly letters notifying you of late payment charges on top of the gazillion percent monthly interest.
You know those letters that they are required to send you to give you a chance to get a better deal on your car or home insurance before they auto renew you and almost double your premium? I would read them in outrage and say that is terrible, there’s absolutely no way I’m putting up with that. But I would never actually get around to doing anything about it. I might make a brief attempt at calling to haggle, or go on a comparison website, but after a few minutes on hold, or having to type in too many details online I would think ah fuck it, it’s too much hassle, and just let them auto renew me.
Sober me is an absolute wizard when it comes to life admin. I signed up for those Martin Lewis ‘Money Saving Expert’ weekly emails and I am all over it. You can switch current accounts for a £200 welcome bonus? Great – I’m on my 5th provider since going sober. Coming to the end of an introductory offer? I’ve already got a reminder on my phone and I’m cancelling two days before the end. Dare to increase my broadband or TV subscription? I will be straight on the blower threatening to leave, and working my way through the multiple layers of the retention team like I’m playing an old school video game trying to get to the boss at the end. [AW1] The one who can actually give me the good deal they are advertising to new customers.
As I got further into my sobriety, I went on to tackle bigger things such as increasing my pension contributions and re-organising my investments to avoid unnecessary fees. I always knew how to do these things, but I just couldn’t be arsed when I was drinking.
You get a multiplier effect. You have more money because you spend less drinking. You compound the interest by dealing with the life admin you put off when you were drinking. I am amazed how quickly, and how drastically my financial situation has improved since going sober.
So whether you are choosing to stop forever, trying Dry January, or considering the 99% sober approach, it’s worth giving it a go. Your bank balance will certainly thank you for it.
Patrick@99percentsober.com
http://www.99percentsober.com
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