Everyday you have to decide what I call “Daily Money Decisions.” You spend money everyday between transportation, food, heat/air conditioning and much more. Each Daily Money Decision can add up to a significant amount of cash. You are bombarded with advertisements and spending opportunities all day long. However, when you are focused and following my Net Worth Millionaire Plan, you will be on a path to financial success.
In order to optimize your savings, debt pay off or investments you must be intentional with every dollar you spend. You can easily spend $100 a day without blinking an eye. Some of the Daily Money Decisions that you must make everyday are as follows:
DAILY FINANCIAL DECISIONS
- FOOD
- $2.00 – Breakfast-eat at home vs grab food on the way
- $5.00 – Lunch-bring your lunch vs buying it
- $15.00 – Dinner-prepare it vs grab takeout or dine out
- $4.50 – Coffee/Snacks-prepare at home vs buying it
- $20.00 – Adult Beverages-no alcohol vs going to a bar
- HOUSEHOLD
- $1.00 – Programmable vs non-programmable thermostat
- $5.00 – Cut your own lawn vs hiring a landscaper
- $1.00 – Raising/lowering home temperature by 1 degree
- $0.35 – Shorter shower vs longer shower
- $1.00 – Plugged in vs unplugged unused appliances
- Transportation
- $5.70 – Cost of the amount of gas used per day
- $3.90 – Not taking advantage of Commuter Tax Benefits
- $0.32 – Gas station-least expensive vs more expensive
- $1.60 – Gas-cash vs credit card
There are 14 Daily Money Decisions listed above. The decisions you make in a 24 hour period can cost you between $10 to $100.
For example, the average person spends $5.70 on gas per day. According to the U.S. Department of Transportation’s Federal Highway Administration, a person between the ages of 20-64 years old drives an average of 14,187 per year or 39 miles per day. That is approximately two gallons of gas. The national average for a gallon of gas is $2.85, as reported by AAA.
YOUR FUTURE
If you save $15 per day you will have an extra $5,475 per year ($15 x 365 days). What could you do with $5,475? You may be able to pay off debt, save for a vacation or invest into your retirement account(s). Follow my Net Worth Millionaire Plan, which will provide you with a step-by-step approach to financial success.
Personally, I save money, almost everyday, by doing the following:
- Eating breakfast at home
- Packing lunch and snacks
- Gave up coffee in 2001
- Programming the AC/Heat Thermostat to be more effective and efficient
- Unplugging/turning off power strip to all TVs, DVD players, gaming consoles, computers, coffee maker and any appliance or device that sits unused on most days.
- Paying cash for gas
- Using the least expensive, yet reputable, gas station
- Riding my bike to work on occasion
I’d rather save money so that I can Create More Money and Enjoy Life. Now it’s your turn!!!
DAILY MONEY DECISIONS – ACTION STEPS
- Prepare ways to save money each day.
- Decide/Budget how much you will spend each day on the items listed above.
- Add any additional daily savings to your automated investments/savings/debt pay off.
Ultimately, every dollar you spend, can not be invested into your future. Therefore, be specific and intentional with your money for long-term financial success.
