The $30,000 Latte!

February 17, 2010|By David Lester

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I’m sure all of you have figured out that I like to have my money and spend it too.  Here is one of my quick tips for all of those fancy coffee house latte drinkers.  You’ll get to have your lactosious delight and save $30,000 for a boat, trip to France or something awesome in 25 years!

I, like most morning warriors, love my fancy coffee drinks and realistically that is the only calcium I get each and everyday.  On Thursdays, I even order one in riding boots before I tear up to the stable for my lessons. Starbucks has a Misto that is steamed milk and bold drip coffee for $2.45 versus the $4.04 for a grande latte.  That is an whopping $1.59 savings a day!  I have them a least 5 times a week which equals $31.80 a month including tax.  Now investing that extra $31.80 at an average 8% return for 25 years and I’ll have $30,242.66.  I even like the taste of the Misto better since it has more coffee flavour and I drink guilt free because I’m not dropping close to $5 a day on just coffee.  

Plus the thought of the fun and freedom that saved money will bring me in retirement makes me happy.   $30,000 will be able to buy me something wonderful in 25 years.  Maybe my own little coffee shop in Ethiopia where coffee started?  

Now think if you did this with everything you spend money on?  Only a $31.80 month saving rewarded me with $30,000 in the future.  Where else can you save your money but spend it too?  

Keep loving those fuzzy little monies,


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David Lester
About David Lester

David Lester is a best selling author and professional Financial Coach, helping people be better with their money. David has written a personal finance book that breaks with traditional attitudes towards finance and describes his own philosophy to money that he has gained through his personal and professional experiences. His philosophy on money applies to many areas of everyday life, including banking, investing, goal setting, shopping and entertainment.