Audio Version: Let Me Hear It!
As if sheer dependence wasn’t enough, you may now add the reduced risk of liver disease to your reasons for drinking coffee. Given all the buzz on this latest study, we thought we’d pull a favorite from our archives for you this week.
Next time you rush into the local coffee shop for your caffeine fix, consider this: the daily $3.60 cost of a medium-sized latte will run you $1,300 per year. And, we’re not talking fancy drinks here, just coffee and milk (and just one a day)! If, instead, you redirected the $109 a month toward savings, assuming a 6% rate of return, the accumulation potential is major.
Investment Time Value Just Over
15 years $31k
20 years $50k
25 years $75k
30 years $109k
We think you can see where we’re going with this …smart choices and the power of compounding can make a big difference in your savings potential.
And yes, we’re reading your thoughts… “I don’t have coffee, I don’t work. I don’t work, I don’t make money. I don’t make money, I don’t save money.” We get it. We love those warm little cups with our misspelled names just as much as you. We aren’t trying to stage an intervention here, rather suggesting that you consider making coffee from home a couple of days a week, instead. Our point is that it’s important to look at the annual cost of small indulgences so that you can mindfully decide whether your dollars are going toward what’s really important to you or not. So, if not coffee, consider other ways to cut back – perhaps something that won’t cause such nasty withdrawals.