The first step if you want to solve your debt problems is to know your income and expenses. You must know how and where your money is spent. Knowing your spending is as important as knowing how much money is coming in.
You may someday be the next person who buys the world’s most expensive cup of coffee and bagel if you don’t know where your cash flow stands!
If you said five dollars for a cup of coffee at Starbucks or Dunkin’ Donuts is rather expensive, none would argue with you. Yeah no one but Jake Drehar might.
Jake looked forward to each day was a hot cup of coffee in the morning, the one thing he can’t miss in even in summer heat. Jake started it off with his coffee everyday and it would not be a good day otherwise. Jake walked to the counter at his favorite coffee shop on one Monday near the end of the month. He had known about writing a few checks that month and the balance in his checking account may be running low. He paid with his debit card as he expected his paycheck would be directly deposited into his checking account that day and he had some cash in his wallet. He’d pay cash if the debit card were declined.