Skip Your Pumpkin Spice Latte & Save Money!

For many people, myself included, buying a cup of coffee is part of their daily routine. While spending $4 – $5 per day on coffee doesn’t sound too bad, spending this much on something you could potentially make at home does, especially when it adds up over time. How many of us go about our daily routines without realizing how much we’re actually spending each month (or each year!) on our coffee fix? And how much does spending $5 a day add up to over time, especially when you’re saving for retirement? These little spending habits can greatly impact your future. When it comes to money, compounding is your friend. Compounding occurs when an invested asset earns interest, which the interest is reinvested and earns additional interest. It’s basically interest earning more interest. Here’s a simple example of compounding.Let’s say