This is an eye opening exercise. It is staggering how much money one can spend over time on a daily cup of coffee from their favorite coffee shop. A cup per day, 5 days a week over 20 years is worth $33,059.53 using a relatively conservative 5% annual growth rate. At a 7% annual growth rate the value is $41,038.65 ~ Wow!
You can apply this worksheet to anything you buy on a consistent basis, going out to lunch each workday versus bringing your lunch, weekly happy hour, etc.
Have some fun with this worksheet and find ways to cut back and those savings into your Automatic Wealth Building Program.