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Frugal Tip - Cold Brew Coffee At Home

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Frugal Tip - Cold Brew Coffee At Home  Reply with quote  

By cold brewing your coffee at home each week, you can save hundreds of dollars while still achieving your much needed caffeine fix! What do you do to save money on coffee?

Post Wed Feb 24, 2016 5:36 pm
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same track as many of your college classmates. This is where you have a couple of options. You can continue living your life following the Joneses, or you can take hold of your financials and achieve personal success while living a life free of monetary burdens.

I've read a few of your 'tips to financial independence' - ie, saving $700/y on coffee, moving savings from a penny-return to a 1% return, etc. But as an elder, who has already been there, done that, I can tell you that you are incorrect. To build wealth (or save money) you need to focus on significant items. One way to see this clearly is to do a Pareto Analysis of your expenses, that will show the difference between your "significant few and your insignificant many". A $700/y coffee bill and changing from a $10/y return to a $100/y return on a $10k fund are both insignificant.

To achieve personal success, it is key to learn where money comes from - eg, a 1% savings account is actually a loss (inflation). But an 11%/y index fund outpaces inflation, longterm. Your $10,000 fund would double about every 6.5 yrs (Rule of 72). Ie, $20k in 6.5y, $40k in 13y, $80k in 19.5y, $160k in 26y, and so on. And if you put several $10k blocks together, it quickly grows to millions. But that isn't done by saving $700/y on coffee, it is done by controlling the Big 2, ie, Cars & Shelter.
Post Wed Feb 24, 2016 8:28 pm
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