Difficulty: Easy
Instructions
Things You'll Need:
- Calculators
- Piggy Banks
- Coffee Makers
- Coffee Mugs
- Brokerage Accounts
- Personal Financial Software
- Calculators
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Step 1
Start drinking regular drip coffee instead of your morning latte (or similar gourmet variety). A regular cup of coffee costs about $1, as opposed to a latte at $2.50.
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Step 2
Contact a financial advisor and invest that extra $1.50 a day in mutual funds. Write a check once a month for $45.00. (You'll need to work with an investment company that accepts small monthly contributions.)
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Step 3
Keep track of the yield. In one year, at 12 percent interest, your money will be worth $570. In 10 years, that will add up to about $10,000. In 20 years, it will grow to about $44,000. In 30 years, if the 12 percent interest rate holds, you'll have about $157,000.
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Step 4
Enjoy your money!
Comments
Anonymous said
on 11/22/2005 Buy green coffee beans and roast your own coffee. I can buy green beans for less than half of what whole beans cost. You don't need a fancy roaster, either. I bought a second-hand Poppery II hot-air popcorn popper for 5 bucks, and it roasts just fine. I got a similar deal on a vintage Zassenhaus manual grinder. Not only do I save money, I get a better cup of coffee than any store could brew.