I started freelance writing and am contributing to Dimespring.? Dimespring is a community of people with varied backgrounds and interests in personal finance, sharing their unique points of view and advice to help you make better decisions with your money when tackling life?s financial hurdles.
When it comes to building wealth, there is no shortage of advice. However, one principle I personally do not find very valuable is the ?latte effect.? This advice suggests that you forgo that latte every morning and invest the $3 you would have spent in savings. Though a good practice in theory, it is not entirely practical, especially if you are one who enjoys your morning coffee.
Before my family and I became 1-percenters, we attempted the ?latte effect? strategy, but it was short-lived and impractical. I then began to wonder what would happen if we examined our large cash outlays??.[For the full post, go to DimeSpring or click here]
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