Finance Tip for The Everygirl

May 22, 2012

Finance Tip for The Everygirl

Having trouble finding $50 per month to invest? Even the small stuff can really add up. For example, if you buy breakfast and coffee every morning at your favorite coffee shop and spend $3.50 on a coffee and muffin, that adds up to about $107 per month or $1,284 per year. If you invest that amount per month at a 8% rate of return, in 25 years you will have nearly $101,760. For more information on investing, read Investing 101 Part 1.

What small stuff could you cut back on this week?

graphic by Grace Niu

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This post was contributed by Brittney Castro, CFP® professional and creator of www.FinanciallyWiseWomen.com. Brittney Castro is not affiliated with TheEveryGirl.com. Brittney A. Castro is a registered representative with and securities offered through LPL Financial, Member FINRA/SIPC. California Insurance License #0F33895

Brittney castro

http://rebeccalately.blogspot.com Rebecca Barnes

Buying breakfast is definitely something I can cut back on. It would be so much cheaper to make something at home.
annawithlove

Starbucks…you are killing me softly.
http://www.katskull.com Kat Skull

I definitely could cut out going out to eat with my friends. This past weekend was my birthday and I went out Friday for lunch and dinner. Saturday I ate at two fast food restaurants and Sunday I ate at one restaurant. This wasn’t a regular weekend, but stopping would help on the calorie intake too!
http://www.thehumblegourmet.wordpress.com/ Jillian@TheHumbleGourmet

My husband and I have been saving for a downpayment for the past 2 years. We’ve cut back on transportation, eating out and other “unnecessaries”. It’s been challenging, but it’s become such a great reward for our future that we’ll definitely continue to save once we’ve moved.
http://twitter.com/TheGraceAngle Grace Angle

I’m terrible with this, i eat almost every meal out. I’m a server and it always feels good to go out with friends and be spoiled but “hey you want to meet up for lunch?” adds up quick and leaves me wondering why I am poor all the time.
Anna

Buy a Keurig and make your own coffee in the am with Starbucks or Dunkin Donuts coffee. It’s really a money and time saver. No long lines and no expensive cups of coffee.
AJ35

Say what? $3.50 per day = $1277/year, not $1860.
http://twitter.com/Lora_Elaine Lora Kelley

make coffee at home with french press! so much better, anyway!
Heather Flashner

If you want to save money without sacrificing your social life, try a potluck dinner with friends instead of going out. Everyone can bring or make something. If you can’t afford making a full meal, do drinks, appetizers, and desserts. Those are everyone’s favorite things anyway

Heather
http://shesdomestic.com
Claire G

Wow! In Australia a SMALL take away coffe is $3.50 AND a muffin is usually $4.50.
Imagine how much you ladies could save here!
Vdub

I have been thinking about the money I could save if I did not tip every single person that helps me. My $2 coffee becomes $3 with tip. Don’t get me wrong, I believe in tipping well. On average my tips are at least 20% for restaurant service. However, I’m not sure why we tip the barista or the guy at the deli. We don’t feel the need to tip at the McDonald’s drive-thru even though they have done the same work as a barista.
Sara J

Starbucks !!!! Need to cut that So bad , Amen @annawithlove
http://nerdgirltothemax.com/ Amy

…but i need to know what i can invest in with an 8% rate of return!! can’t wait for part 2 of Investing 101!
Allura Maison

….guilty! great to know info x Thanks for sharing!

http://kittenlamoda.blogspot.com
http://twitter.com/OctoNoctua Natalie Webb

I know, the Starbucks. In two more weeks when I’m off this 60-hour a week schedule, I’ll knock it off. Promise!
LindsW

8% return is extremely unrealistic. I’d like to know where this person is investing!!