While there is nothing wrong with treating yourself to a coffee, a night out, or maybe even your favorite subscription service, it is important to use self-control with these luxuries when saving for a healthy financial future.
Starting to save while still indulging in the things you enjoy can be as easy as using the power of one less. Do you go out for coffee multiple times a week? Consider replacing one day of your routine with coffee from home. Do you go out to dinner a couple of times a week? Focus on going out to dinner once a week. Are you paying for multiple subscription services? Challenge yourself to cancel one of them.
Your average cup of coffee, whether it is a latte, cold brew, or your other favorite pick-me-up, can cost upwards of $6 or more per cup. Cutting down on one trip a week to your favorite coffee shop can save you more than $312 per year, offering you the supplemental resources to purchase bigger items such as a new car, a new home, or that lavish furniture set you have been eyeing.
Did you know that at American 1 we offer free Financial Coaching appointments to our members? Our Certified Credit Union Financial Coaches can help answer all your questions and empower you toward your goal of financial freedom.
