Finding Money to Invest
It All Adds Up!
Think of the little things you spend your money on. Coffees, a quick bite on the way to work, what if you didn’t spend that money on those things?
Take a look at this chart (80KB pdf) for some of the everyday things you spend money on that don’t get you further along in building wealth. See how these little 
things add up to hundreds of dollars each month. Wow that’s a lot of money!
Calculate Cost of Waiting to Save/Invest
Consider some of the following examples, here’s how it works:
Helpful Hints for Using the Calculator:
Click on the button to enter in places where you would cut back in your spending.
If you spend about $20 when you eat out, you might cut back to once per month. Then enter $20 per month. If you can do more, put more.
It will also ask you how many years you will do this. What rate of return you will get and your tax rate.
- If you are just working part time or in an entry level job your tax rate is probably 15%.
- Note your federal rate could be 10, 15, 25, 28, 33, 35. Your state rate will vary, but in some states like Florida, this is 0.
The rate of return is based on what you think you might do with your money such as putting it in a savings account. Why not start with 2-3% for starters.
- If you plan to leave the money in there for a while (over 10 years) then you might use a higher nominal return of 8%.
Think about Your Money Choices
Making choices regarding the small things in your spending habits can be the difference between achieving or not achieving your goals.
Just like driving a car, it is hard to get somewhere if you don't know where you are going and when you need to be there.
The best part about saving is that you are in the driver's seat - You get to decide where you want to be and when.
Once you know that, you can figure out how much to save and for how long.
So before we turn the key, you need to get directions on how to get there. 
It's like Mapquest but for your savings.