The-Slight-Edge

196 The Slight Edge
I also know that putting $5.50 a day on a credit card I am not fully paying off
will get me to my $2,000 a year of interest-bearing debt that is eventually going
to sink me.
This is the reason so many Americans are swimming in credit card debt and
facing bankruptcy. Not because of one bad financial decision, but because of
several daily $5.50 bad decisions that have snuck up on them before they could
even see what hit them.
So what is worth more to you, your $5.50 a day in magazines, lattes or
video games, or knowing you are creating financial security for years to come?
The choice is always yours, and you are always making it, so you better be
aware of it.
I think People magazine put it best when they said, “A latte spurned is a
fortune earned.” I encourage you to figure out what financial guru David Bach
calls your Latte Factor—what you are spending money on daily that isn’t
completely necessary. Know that the instant gratification of your purchase isn’t
worth the agony and frustration the compounded effect of these decisions will
be. The Slight Edge decision to save that money and let the interest work for you
will reap huge benefits for years to come. Invest a latte a day in your life and you
will greatly rewarded.
Financial Tips for the Next Generation
money in a high-interest savings account or CD.
credit cards.
card. Be aware if you miss or are late on one credit card payment, your
interest rate can greatly increase, sometimes even double.
and retirement, and trace that back to daily goals.
Health and finances are just two main areas you can see the Slight Edge play
itself out.
The main point I am trying to make is that the Next Generation has to be
responsible for the outcome of their lives. Commit to being responsible for the
trajectory of your health and finances. Commit to being responsible for you’re
your contribution to society. Ask yourself, “How do I contribute to preserving