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Simple Saving Tip: Just Do the Math

You've heard it a million times — think about how much your latte habit is costing you. Still, It never really seems to make an impact until we check our bank statements and wonder where all our cash went.

In light of my New Year's resolution, I'm all about making savings a priority and cutting back where I can this year. The simplest solution is to always do the math. Rather than handing over that $3.50 for a grande latte on a daily basis, really take the time to calculate how your coffee routine is affecting your budget. If it is, in fact, a routine, you're likely spending way more than $3.50. In a week, you're actually spending $24.50 on coffee drinks alone, and if you're serious about your coffee addiction, that's $98 a month and $1,274 a year — all on a beverage. Do the same math with your lunch (time to get reacquainted with packing your lunch!), subscriptions, and excess spending.

It may seem a little extreme, but seeing it all add up is an eye-opener, and one that I like to put into practice on a daily basis, rather than just a few times a year.

Source: Getty

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