For most people $1,800 is a lot of money. It’s definitely not a life changing amount but if it put into the right investments (like REIT’s and Index Funds) it could quadruple to $6,400 in two and a half decades (assuming a 12% return). However coming up with $1,800 is a big ask but saving 5 dollars a day for one year is not. In this article I am going to show you four ways you are wasting money and how you can put that towards investments that will generate money that turn that snowball of cash into a snow boulder.
Daily Pre-work Coffee: It’s a certified meme but it is entirely true. It’s easy to pull into any coffee establishment and mindlessly buy a coffee for $5. In fact many people do this everyday while going to their JOB! And that is the kicker, most work places offer free coffee, why not just use the free coffee there? Besides you’re probably underpaid anyways why not get your money’s worth?
Taking Lunch To Work: Fast food is terrible for you and can burn a hole in your wallet as well. Also not to mention the time that is wasted driving to a spot and getting a bite to eat. Why not just walk to the fridge and pick out that immaculate meal you prepped on Sunday like an office pro? Also with the time you saved by not going out you can get more work done (or leave early).
Drink More Water: Not only is water tasty it’s also good for you, in fact you’re also about 60% water, not soda which you should probably stop drinking over good old water. Overdoing sugary beverages makes you feel like shit and you are already paying the city for the water anyways. Of course with that being said get a Brita filter, or one of those fancy fridges that spoon feed you high quality water.
Ride Your Bike: Or in some people’s cases get a bike and start riding. The best way to flex on your co workers is to brag about the fact that you ride your bike to work and how you’re a big fitness inspiration to the masses. Okay, I’m actually joking but taking one to two days a week to ride a bike to work is a great way to stay in shape and should save you some money as well.
Saving money is really like a muscle, or a plant. Either way it requires constant work in order to build a habit of pinching pennies in a way that both benefits you and helps you reach your financial goals.
DISCLAIMER: This is not financial investment advice, I am not a financial advisory professional and everything here is just suggestions. Any financial decisions should be made after research and professional help from financial advisory professional.