Change your spending habits and reap the rewards


Little changes can make a big difference. Whether that’s getting off the bus a couple of stops earlier to get a bit more exercise or making your coffee at home rather than buying a $4 latte – it all adds up over time.

According to scientists, it takes 66 days to form a new habit. If you can avoid the temptation of buying coffee for that long, you could save $264. If you carry on this good habit for a full year, that’s an extra $1,460 in your bank account. If you had set aside that money at the beginning of the year and had it in a high interest savings account earning 3.5% interest, you could push that figure well over $1,500.

When we’re talking about spending habits, it’s helpful to understand why you spend that money. For instance, if you buy a coffee because you like the energy boost it gives you, consider buying an apple or a banana instead. Both contain fructose – a slow-releasing, natural energy booster.

If you buy a coffee because it’s part of your morning routine and you like the particular coffee place, try taking a different route. This will make it easier to change your morning routine so that it doesn’t include a $4 spend.

And if you simply can’t live without that cup of coffee in the morning, make some time in the morning to make one at home and take it with you. You’ll still get the energy boost you crave but you’ll spare your wallet the considerable expense.

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