Love The Dollar
Every dollar you make requires hard work. To make matters worse, every one of those dollars is reduced anywhere between 10-30% due to taxes. Think about that, your cup of coffee that costs $4, really requires $4.4-5.20 of income. Now add in how much that dollar is worth over 30 years and your single cup of coffee really costs you over $25.
Wow, that is a lot for just one cup of coffee. When you break down each dollar and understand how much work it takes to earn plus the future value of each dollar if saved, you can begin to make an informed choice on how you spend that dollar.
The idea is not to give up coffee (although that would be good), but more to know how much it costs you and to find ways to reduce that cost so that you can move that savings to the priorities in your life. Drink one less per week, brew your coffee at home, use coupons, etc. Does not matter how you do it. What is important is that you know why and have something important to save for.
We make spending choices everyday and many of them there ways we could save 1-20%. We forget about using them because we forget how valuable one dollar is. In the same breath, we also wonder why we don’t have enough saved for retirment, a house, that vacation.
The big things only come when you can save on the small things!