Americans spend way too much money on stuff that we don't need. I'll sit across from my clients sometimes who make $130k a year, but I have to hold them at gunpoint to get an extra $200 saved a month.
Think about this....what do YOU spend money on that is a luxury that could be cut. Not to pick on coffee, but it is a great example...a cup of coffee at home, costs you what...25 cents. A starbucks coffee costs $5....think about it.
$5* 5 days a week= $25, * 52 weeks a year= $1,300 you are spending on coffee, but you haven't been able to save for retirement, cash reserves, a downpayment on a house etc? Plus you could have a tax savings on that $1,300 if you were putting it to an IRA.
Try to write down your latte factor and CUT IT out and save it instead. Some other examples are cigarrettes- a nasty habit you should cut for your health and your wealth! Esp my NYC friends who spend $10 every few days on a pack, now that makes me sick!
Other examples...
Your weekly pedi/mani
Your shoe addiction...I'm thinking of that great SATC episode, Carrie frets that she will really be the old lady that dies in her shoe
The $3 bagel in the morning
Wine.....try sticking to $10 a bottle, I can find lots of $10 wine that is pretty damn good
Going out for lunch everyday...try bringing your lunch
The pets....no they don't need all of those toys, they're pets!
Do it now...WHAT IS YOUR LATTE FACTOR?
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1 comment:
I have really been enjoying your blog. It is wonderful that you are making these ideas accessible and even hip (especially with your clever logo). I have added you to my blog roll over at Design for Less (www.designforless.blogspot.com). Keep up the great work. We need this now more than ever!
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