I sawan article on Yahoo finance about a fascinating study on the 6 things preventing people from becoming wealthy. In fact, these 6 things are responsible for most people spending 5K per year! Those people don’t realize what that money could do for them down the road!
This is rather sad considering 59% of Americans have less than $1,000 in savings.
Check out the study but more importantly think about one or more of these you can sacrifice now to have what you want later:
1) Eating out and food delivery – Bagged lunches with an occasional meal out will do you just fine! My wife and I made this switch years ago and haven’t looked back.
2) Coffee – An average cup costs $5. Do the math. What’s wrong with Folgers?
3) Alcohol – The markup on alcohol is outrageous. There are other reasons (e.g. health) to cut back on alcohol as well.
4) Ride Sharing – This one surprised me but most people would be wise to cut down on this huge expense.
5) Clothing/Accessories – If you’re like me, you have perfectly good clothes in your closet but still want more. That’s OK but don’t sacrifice your future over it.
6) Events – Many people almost seem addicted to shows and concerts. Concerts are great but 5K per year!?!
I don’t want to take away all your fun but I want to see you delay some gratification so you can ultimately life the life you REALLY want.
So which area can you cut back on?
If you need help establishing your goals, hit button above and let’s hop on a call to see if I can help you!
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