Friday, September 29, 2006


Joining the Club

This post is an update to the Million Dollar Savings Club. If you are not familiar with this club, you can learn more by reading my post describing it.

Melissa recently joined the Million Dollar Savings club and writes:

"The concept of the Latte Factor is that if we invested the $3.50 or more a day
that we spend at Starbucks we could all retire in 10 years. Its true add it up.
I found out that I was spending almost $75 a month on frappacinos! No wonder I
cant pay my credit card bill. I was also spending $5-$9 a day on food. That's
about $100 bucks a month. Yes I know I have to eat but that sandwich that I
spent five bucks on, I could have made it at home for $.25! Probably would taste
better too."

That’s the trick. Finding a few simple ways to cut back on what you spend is how you save money. Melissa took a quick inventory of her spending habits and can now start saving money. Too many people are focused on the offense (making money) rather than the defense (not spending everything we earn). Try cutting back on a few of your daily extras. Make a sandwich instead of going out to lunch and you’re in the club. Then you’ll turn around one day and have piles of money.

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