Whatever your stance on coffee, it's useful to track your spending so that you know where your money is going. If you're buying coffee every day, be sure you can actually afford to because you've already covered other vital expenses, like monthly student-loan or credit-card payments. That's what I do, and it's why I feel comfortable continuing to buy coffee: It makes me happy, and I can swing it.
In addition, Sethi recommends automatically putting money aside for savings and investing so you can stay on track with your long-term financial goals. Try to dedicate 5 to 10 percent of your take-home pay to savings and invest another 10 percent. he says.
If you can't quite make 10 percent, don't fret: Save whatever you can, even if that's "5 percent or 1 percent," says Tom Corley, author of "Rich Kids: How to Raise Our Children to Be Happy and Successful in Life."
"The point is to get into the habit of saving money," he says. "You can always increase the percentage of savings down the road."
Once you've taken care of what's important, Sethi says, you can relax a bit and enjoy yourself. "Everywhere you turn, you hear people telling you what you can't do with your money: No lattes, no jeans, no vacations," he says. "While everybody else is worrying about how little they can spend and how much they can cut back on, you know you've automated your investing."
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My daily Starbucks habit costs me $2,300 a year—here's why I refuse to stop