Monday, July 6, 2009

Financial Impact of Everyday Purchases

I just read a great article this morning over at My Dollar Plan about the financial impact of little everyday purchases. The best way to find out this impact is to annualize your spendings like this:

Lunch out at work $8/day, 5 days per week = $2080 per year
Cigarettes $5/pack per day = $1825 per year
Morning Starbucks $5/day, 5 days per week = $1300 per year
Friday Night Pizza $25 per week = $1300 per year
Soda Break $1 twice per day, 5 days per week = $520 per year
Cable TV $65 per month = $780 per year

Some of those numbers are shocking! So if you're trying to save an extra $1000/year, try eating out lunch only 2 days per week. It adds up! I thought this article was a good reminder for everyone. I like to keep track of my spending in a spreadsheet (because I'm obsessive compulsive like that), and it makes it a lot easier for me to see spending patterns that are unnecessary. That way I can work on eliminating them and spending more effectively.

See the full article at My Dollar Plan, go HERE.

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