So I wanted to start off by saying I’m excited to get the ball rolling on The Coffee Can. This has been an idea of mine that I wanted to bring to life for a little while now. I’ve started saving money by making coffee at home and by using an old Keurig I had laying around at my house, which I brought to work. I usually spend a total of $5.00 for two coffees a day. This is what I am going to use as a starting point for my daily amount.
I ended up purchasing two coffees this week, but all in all I was able to save $20 from Monday to Friday. This money will be what kickstarts The Coffee Can. There were alot of options to choose from when I decided to invest my first $20.00. To make this strategy work, I like to use covered call ETFs to produce more income over growth. Not to say that my portfolio won’t grow over time, but my focus is on income.
I decided to start this journey with the ETF ticker BIGY. It is a tech sector focused fund which has been hit hard lately. I was able to buy a whopping 1.01 shares with the $20, which will pay me roughly $0.63 per month. Now I know that isn’t alot of money to start. With my strategy of making regular investments, the compounding over time, and distributions paid each month, I hope that this portfolio can eventually pay for my coffee each and every day. That’s my plan and can’t wait to see what happens!
How much money do you spend per day on coffee?
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