These are backward money saving tips. I am simply going to show you the facts which will probably overtly encourage you to save money. I know for a fact that you will see one shocking fact here that will apply to you.
Buying one coffee a day at $4 = $1460 a year. Did you even think about spending over $1000 on a coffee machine. I am guessing you didn’t.
See the photo below. Some people buy more than one coffee a day, trust me I know!
Buying lunch for work at $12 a day, 5 days a week = $60 a week times 52 weeks = $3120 a year. People do this you know!
Buying a sandwich each day at $5 = $1825 a year. Or buy two because they look so good!
Ok what about a sandwich and a coffee a day at $9 = $3285 a year.
Going out to dinner twice a week for two people can be $80 a week times 52 weeks = $4160 a year. This is calculated on the cheapest food possible, not including any drinks or extras.
Going out to dinner once a week with a family of four $100 a week times 52 weeks = $5200 a year.
Buying a bottle of water a day at $2 = $730 a year.
Taking a taxi everyday for $10 can cost $3650 a year.
Renting a house for $350 a week = $18,200 a year.
Paying $10 a week too much on your electricity bill = $520 a year.
Paying $70 for 5 people to see a movie once a month = $840
Buying $10 worth of fruit every week and then letting it go bad. That’s $520 worth of rotten fruit.
Buying 20 jars of spaghetti sauce at $.99 is a bargain but then you waste 15 of them by letting them go out of date = $15 loss.
Getting charged $29 a month on a forgotten fee on your phone bill =$348.00 a year. I did this when I had a mobile internet connection I didn’t use.
$75 a month payment on a credit card over 2 years = $1800 or $900 a year.
Buying 2 packets of cigarettes per week at $23.00 a packet = $2392 a year.
Some people buy one packet of cigarettes a day at $23.00 which = $8372 a year.
1 packet of cigarettes a day at $24.95 and a soft drink $4.40 (which a friend of mine does) = $10712.75 a year.
A night out at the local pub can cost $100 and that once a month is $1200 a year.
Saving Money Tips
1. If you can bank $20 a day for 10 years which= $73,000 with 5% compound interest you can add another $21,463.00 to that total.
2. Paying $25 a week extra on a 204,000.00 loan will save you $36,584.86 as shown below.
3. Put away $5 a day for a child for 20 years. That’s $35 a week. You deposit $36,400.00 but with compound interest you make an extra $19,227.00. In total it adds up to $55,627.00. That would make a very nice 21st gift don’t you think?
See more money saving tips here.
Now just say you only do two things on my list. For example you drink one bought coffee a day and you buy cigarettes, this is enough to keep you in the poor house, or maybe just stop you from ever getting ahead. Why not swap a coffee for a savings account instead?