Anyone who’s spent a drunken night on the town will know that these late- night binges can turn into some of the expensive nights of the week. Because alcohol makes people lose their inhibitions, it also makes them spend money too carelessly.

In most situations, any cash that’s in a person’s wallet or pockets becomes instant beer money. This is why it’s advisable to leave the bulk of one’s cash at home when going out to a bar or club. This also goes for credit cards, in case they get stolen or are passed around friends needlessly. In these situations, a debit card will do less damage and will be more appreciated when the person sobers up in the morning.

The best way to manage cash loss would be to cut down on parties and nights out altogether. This doesn’t mean that one should sacrifice his social life, but if he finds himself every night at a bar draining his money on endless drinks, then it might be time for a wake- up call.

Little by little, the person’s partying and drinking habits will change, and he will find himself with more disposable income that can go towards good long- term investments. Therefore, every drink that one doesn’t take is an extra buck in the bank.

This article on responsible spending was brought to you by the good folks at My Canada Payday. If you need a payday loan in Ontario, they can help.