That $10 dollar lunch special could actually be costing you thousands?

 Fact: Eating out costs money.  

Turns out the average  American forks over $11.14 twice a week for lunch,  according to a Visa survey.  But, if you redirected the $1,043 spent each year on lunch into an investment account earning 6%, you would have an estimated savings of $88,500…thirty years later.

This personal finance math lesson shows how seemingly inexpensive, everyday indulgences can add up to a big hit to your net worth without you even knowing it. It’s akin to the so-called “latte factor,” or the long-term cost of parting with cash each day for a high-priced coffee. Or stopping at the food truck for a roll and butter and container of orange juice. Or regularly spending a few dollars on new apps for your phone.

 

Here are healthy investing tips…

Give up less by spending smarter. 

Instead of buying a large Mocha Caffé Latte each day at Starbucks, consider buying the same coffee in bulk via a 36-count K-cup package for $28.95, which nets out to 80 cents a cup. That’s a daily savings of about $4.

“Each person needs to figure out what their daily comfort purchase is. Something that could easily be cut out or that you wouldn’t miss. Is there a substitute or alternative?”

 

Examine your spending motives.

There’s a psychological dimension to spending.  You need to find out to what extent your spending is based on real needs or simply based on a need to feel better about yourself or your situation. Once you identify your spending triggers, maybe go for a walk instead of heading to the corner coffee shop.

 

Do a regular spending audit. 

Review a few months worth of credit card, checking or savings statements. Go through them purchase by purchase and find out where your money is going…

SOURCE: USA Today  https://goo.gl/vf3O8x

 

 

 

 

 

 

 

 

 

Verne Hill

Verne Hill

The News Guy – WBFJ Family Friendly Morning Show at WBFJ fm - Your family station!
I enjoy many things: Music. Family movie nights. My American flag flapping in the wind. Sunsets at the beach. Snow days. The Sweet Tea Party. Salvation through Grace…

VERSE: “Let everything that has breath praise the LORD” Psalm 150

QUOTE: “A person who loves his job, will never work a day in his life.”

MON-SAT 6A-10A(& Sunday@5 host)
verne@wbfj.fm
Verne Hill


Verne Hill

I enjoy many things: Music. Family movie nights. My American flag flapping in the wind. Sunsets at the beach. Snow days. The Sweet Tea Party. Salvation through Grace… VERSE: “Let everything that has breath praise the LORD” Psalm 150 QUOTE: “A person who loves his job, will never work a day in his life.” MON-SAT 6A-10A (& Sunday@5 host) verne@wbfj.fm