How to Save Money by Changing Your Morning Coffee

By changing your morning coffee, you can provide your family with funds that can add up to college tuition or more. Here's how to do it.

Instructions

Difficulty: Easy

Things You’ll Need:

• Calculators
• Piggy Banks
• Coffee Makers
• Coffee Mugs
• Brokerage Accounts
• Personal Financial Software

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.
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.)
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.
4. Enjoy your money!