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Kick Your Coffee Habit and Pay Off Your Mortgage

Kick Your Coffee Habit and Pay Off Your Mortgage


    The following is guest post by Charles LaReaux. He is a partner at the Las Vegas, NV real estate firm, Hakans & LaReaux. He specializes in real estate for the entertainment industry and enjoys finding creative ways to help his clients save money.

    Do you wake up in the morning looking forward to your trip to Starbucks, Caribou Coffee, or your local coffee shop on the way to work? Do you have a mortgage that you’re working to pay off?

    If so, you have an amazing opportunity to make a healthy habit change and save thousands of dollars on interest on your home mortgage and pay it off sooner!

    The Health Impacts of Coffee and Caffeine

    The experts have trouble agreeing on whether coffee is bad or good for you.

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    Livestrong.com discusses the dangers of caffeine overuse in this article. Here are some of the side-effects of heavy caffeine use (500+ mg per day) mentioned by the author:

    • Restlessness
    • Rapid heart rate
    • Nausea
    • Muscle tremors
    • Insomnia

    The article also addresses the concern with addiction and mood. Caffeine addiction can actually lead to anxiety and irritability – not something we need more of in our world.

    On the other hand, this article from WebMD notes several health benefits associated with coffee including reduced risk for Type 2 Diabetes, certain cancers, and Parkinson’s disease.

    However, the article also acknowledges some of the downsides of caffeine including the fact that it is a diuretic and can cause heartburn.

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    Aside from the dangers associated with caffeine, if you get one of those fancy lattes or caramel macchiatos, your coffee is also loaded with empty calories and sugar.

    In fact, a “tall” (8 oz) Caramel Macchiato at Starbucks packs 180 calories and 23 grams of sugar! If you’re an average-sized woman, that’s close to 10% of your daily recommended calorie intake and close to your recommended allotment of sugar (100 calories or 6 tsp).

    And coming from a slightly different angle, Lifehack contributor Tucker Cummings suggests that drinking too much coffee will sabotage your productivity!

    Ultimately, you don’t need coffee. It doesn’t add any nutritional benefits that you can’t gain from other sources, and it can actually be detrimental to your health and productivity.

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    How to Save Thousands by Cutting Out Coffee

    Here’s the kicker. Let’s say you spend $3 for your coffee, five times per week (this is not unusual!). That is $15 per week or $780 per year.

    Further, let’s say you have a $200,000, 30-year mortgage with a 4% interest rate starting at the beginning of this year.

    If you put your coffee money toward an annual prepayment on your principal loan, you will save over $18,000 over the course of the life of your mortgage. You will also stop making house payments more than three years sooner!! Can you say early retirement??

    To see exactly how much you will save, check out this awesome mortgage amortization calculator (click on “What If I Pay More Every Month?).

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    How to Kick the Caffeine Habit

    “That’s all fine and dandy,” you say. “But I’m addicted!”

    Don’t worry, there are steps you can follow to kick your caffeine habit:

    • Start slow. Going cold turkey is not going to feel good.
    • Take a magnesium supplement (read more about why and how here).
    • When ready, switch from coffee to black tea for a week.
    • Then move from black tea to herbal teas. You’re now caffeine free!

    Feeling sluggish after kicking your coffee habit? Try taking a brisk walk for 30 minutes every day. It’s free and it will save you a lot of health costs down the road.

    Here’s to paying off that mortgage — while improving your health!

    (Photo credit: Too Many Sugars via Shutterstock)

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    Last Updated on June 25, 2019

    5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

    5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

    Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

    1. The 48 Laws of Power

    48-laws-of-power

      “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

      On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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      An example of a law of power is: Always say less than necessary.

      • When trying to impress, the more you say the more common you look and less in control.
      • Be vague.
      • Powerful people impress and intimidate by saying less.

      2. Influence: The Psychology of Persuasion

      influence-the-psychology-of-persuasion

        “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

        This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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        Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

        3. Blue Ocean Strategy

        blue-ocean-strategy

          “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

          This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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          4. The Fountainhead

          the-fountainhead

            “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

            The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

            5. The Compound Effect

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            the-compound-effect

              “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

              This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

              So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

              Featured photo credit: Bill Gates Foundation via businessinsider.com

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