Sometimes, the toughest part of getting out of debt, is knowing where your money goes. It can happen easily: you get paid, get some groceries, pay some bills, and all of a sudden, your cash is gone.
There are a million little expenses along the way, so it’s important to zero in on the ones you can cut.
Let’s take 5minutes to look at how much a pretty average person will spend on coffee in a given workweek. Let’s call our coffee drinker, Joe.
Joe grabs himself a coffee on the way into the office every morning. That coffee costs him $2.25. About twice a week, Joe feels like treating himself and needs a break – so he grabs a $5 latte.
On a standard 5-day workweek, Joe is spending $21.25 on coffee – and that’s not including the treats, tips and incidental expenses that come from a stop at a coffee shop. In a month, that’s $85, and $1020 in a year.
When you start to add that cash up, it’s pretty interesting to see how far a few cups of coffee can go. Now, it’s impractical to say “Never buy a coffee ever!”. But there are easy ways you could cut down on these costs.
Getting an environmentally friendly reusable coffee cup and brewing your morning caffeine kick at home a few times a week could save you a few hundred dollars in a year. Does your workplace offer coffee? That’s a great way to cut costs as well.
I know people who spend a lot on coffee, just to get out of the office or kill some time on breaks. Well, you can get the same thing done by taking a walk around the block or simply going with a co-worker to the coffee shop, but still drinking the office brew.
Take a few minutes to break down any of your spending habits, and I’m sure you could find some room to make some improvements.
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