How Mr. Wonderful saves money every morning
Mr. Wonderful, Uncle Kevin, Kevin O’Leary saves money every morning just like you! We have been following Kevin O’Leary for many years, have read a number of his great books and have taken to heart a lot of his fantastic advice on money. You and him have at least one thing in common that is how you both save money every morning. Do you want to know how Mr. Wonderful saves money every morning like you?
Saving money every morning
Would you believe that you can save nearly $1,800 a year doing this one little thing in the morning? When I first heard how many of you do this I was surprised! 7 out of 10 of you do this! And it’s great!
What’s the one thing in the morning above all else? You would skip breakfast for this very thing! If you have not guessed it yet, it is coffee! Yes you save nearly $1,800 by drinking coffee every morning AT HOME. In our article How you are saving money every morning we determined a cup of coffee made at home costs $0.16 while Uncle Kevin determined the cost to be $0.20 (click the link to check out the video).
Coffee purchased outside of your home will cost you at least $1.79 and that’s a standard coffee, no mocha latte or anything fancy like that! If you drink two (2) cups at home you would save $3,600 a year and would save $5,400 with three (3) cups!
What can you do with $1,800?
The possibilities are endless with this money saved; have you even considered what you are doing with this money you didn’t even know you were saving?
Here are my top ways to use this money:
Increase your emergency fund with your coffee savings is a great way to keep yourself and your family protected when life happens. With a sufficient emergency fund you will not have to incur debt when life happens or use savings or investments to pay for the emergency. Increasing your emergency fund increases the amount of money you have.
Consumer debt carries interest rates of over 21% and it can take years to pay off the smallest of balances. By paying off this type of debt you are saving yourself a bunch of money and stress!
Your house and your mortgage for that matter are life’s largest expenses! Paying down these sooner will save you the most money and with more money you will have more freedom to do what you want like taking that well deserved vacation!
You need to reward discipline and taking that vacation is a fantastic way to reward yourself! Be sure to save yourself money while on vacation as more money saved can mean more vacations!
Enjoy your coffee and remember you are saving money when you do! And now you know how Mr. Wonderful saves money every morning!