Your Daily Coffee
You might be thinking to yourself that cutting your daily visit to your nearest cafe for a cup of joe won’t help your retirement finances at all. But that’s because you’re thinking about the money you’re spending today, not the money you’ll save later.
Let’s say your cup of coffee costs $1, in 30 years, with a 7% return rate, that dollar will turn into $7.60. If you skip coffee for 100 days, you’ll save $5,200 a year, meaning $38,000 for your nest egg.
And if you’re thinking that you absolutely need coffee in the morning, we think it’s best you reconsider your needs versus your wants. Today, that distinction gets blurry. Another way you could save is by brewing it at home- not only will you save money but your kitchen will smell great! Win-win, right?
