Cut back on spending

First things first: eliminate the expenses you can happily live without, such as your expensive Latte, suggested Hernandez. Instead of spending your hard-earned money on expensive, brand-name coffee, try making a delicious alternative at home. Coffee was just an example, but you can start with any other expense that’s making you take money out of your wallet on a daily basis.

Try cutting the costs for one week, then two and so on.  A classic Caffe Latte at Starbucks is around $3.65. Five Lattes amount to 18,25, which means this is how much you can save from coffee alone, in one week. A cup of coffee might seem small but the money you save over time is anything but.