A daily cup of coffee, what is the True Cost?

Assume you religiously pass by a “Drive-Thru” every morning for a cup of coffee.

For the sake of illustration:

▪ You daily spend $ 4.90.

▪ This has been your habit for the last 10 years.

Now, let’s consider the following:

▪ You could have saved a daily $ 4.90.

▪ The savings could be invested at an 8% annual return (we ignore the inflation rate for simplicity).

Below is a chart showing how much that small-looking daily saving could have grown.

In summary:

the daily $ 4.90 spent for 10 years has cost you a staggering $ 27,442 in wealth building. In another 5 years, the savings opportunity cost has ballooned to $ 51,906.

How do we become aware of such missed opportunities?

It all starts with getting a good handle on our finances. Big businesses analyze their finances once a month; they review trends and identify where to implement changes.

As an individual or SME owner, it is time to change your habits and learn to interact with your finances in real-time; this is the only way you can quickly identify those expenses which could be stopped, and then divert those savings into wealth-building tools.

It is time to move away from Cash Driven Decision Making to Data-Driven Decision Making.

Rukbe aims to bridge the Data Analytics and Financial Literacy gap by demystifying the compilation, and understanding of financial information and empowering users to confidently communicate with their financial advisors, wealth coaches and bankers.