A wise man once told me that the best way to invest for the future is to spend less. This is so true and it’s something that I thought about when I gave up coffee before Christmas. I wondered how much I’d save if I didn’t buy (on average) one cup of the black stuff everyday…
It turns out that it could be between €839.50 and €1,095 per annum depending on whether I was going to what I believe to be Dublin’s cheapest cafe [€2.30 for a Flat White) or my favourite Cafe in Dublin (€3 for the same beverage) x 365. Sobering thought eh?
Now repeat this formula across all the other things you regularly spend money on and work add all these total costs together. The numbers start to look even more scary right?
Ok, so this is a pretty extreme way of breaking down one’s spending habits, but it is a great exercise to make one think. Think the annual budget is too tight to go on holidays?! Give up coffee for the year and you could easily afford a holiday or two!
Got a great home economics tip you’d love to share? Let me know in the comments or message me directly here!