So, you are a Starbucks junkie. You cannot stop yourself from getting that latte or mocha every morning. Maybe some shocking figures will help you? Ok, let’s get started:
Let’s say you buy just one, ONE latte a week. Every Monday. Let’s say in your Starbucks the cost is $3.85. Doesn’t sound like much, does it? About $15 dollars a month, thats pocket change! But what if you invested just that $3.85 every Monday instead?
$3.85 invested every week into an interest bearing account (say 5%) over 20 years turns into about $6,876.
Wow, pretty cool. But still, you are not willing to give it up.
Over 30 years, that $3.85 every week adds up to about $13,933. Wow, it doubled in just 10 more years time!
Now, lets say you have a real problem with Starbucks. A few times a week, you stop in and get your drink. How about 3 times a week?
$3.85 X 3 times a week = $11.55 per week. Still, not too much money, about $45 per month.
But what if you invested that $11.55 every week instead?
In the course of 20 years, that $11.55 per week in a 5% savings account would add up to about $20,630. Over 30 years? About $41,801…it doubled again!
Just in case you are wondering, the main point is not a cup of Starbucks coffee and how much it can cost you over time. It’s the little things you have to think of…Starbucks here, donut there, Snickers bar here, new T-shirt you didn’t need there…One more math equation and you can rest…
Let’s say you spend about $25 a week on random crap..whatever that may be. $25 invested every week, at 5%, comes out to about $44,653 in 20 years. See how that works? If putting away only $25 per week adds up to that much, imagine what putting away $50 per week or $75 per week or more comes out to. (psst – $75 a week, or $300 a month for 20 years comes out to about $125,000.)
It’s the little things….think before you buy, it might affect your long term bottom line. But still, sometimes take the time to buy a cup of coffee. Again, its the little things that make life worth living as well!