Once upon a time a very long time ago (the nineties) someone said: If people just stopped buying lattes they could save so much money!!! And thus began the gospel of "give up something cheap you like today for moderate savings in the future."
Let's do the math.
I buy *mumble mumble* lattes a week...
I buy five lattes a week. That's two before work, two while I walk the
boyfriend to class, and one on the weekend. Minimum.
five lattes cost me between three fifty and five dollars each
(depending on where I'm going and the loyalty card I use--love me some
loyalty cards). Let's call it $4.25 for maths sake.
$4.25 * 5 = $21.25 spent on lattes every week.
$21.25 * 52 weeks/year = $1105
be clear... that's a lot of money. I have some bad habits and I'm
working on them. I do not expect you to spend that much on lattes.
That's about ten percent of what I live on in a year (not including
money that goes directly to savings/investment accounts). Ten percent of
my spending every year goes to lattes.
And I'm not
going to stop. I like lattes. I really do. I also like chatting with the
woman at the coffee shop in the morning and I love walking my boyfriend
to class. I love the way a hot latte makes me feel like anything is
possible. So, I'm scaling back. No more lattes in the morning (maybe no
more at night... le sigh). Instead, it's black coffee all the way... and
lattes when someone else is paying or I have a free one through my
Let's do the math at five black coffees a week instead of lattes:
$2.25 * 5 = $11.25
$11.25 * 52 = 585
It's still a lot of money (close to 6% of my spending in a year) but it's just a little better.
What are you doing to make your life (and your finances) just a little better?