Feature article: Budgeting &
Saving
Little things add up
By Brenda Procter, M.S., state specialist & instructor, Personal Financial Planning, University of Missouri Extension, adapted from "Small Amounts Add Up" by Sandra McKinnon, M.S., Family Financial Education Specialist, Franklin County, University of Missouri Extension
People have different priorities, and no one can make
decisions for you and your family better than you can.
If you are trying to start saving or save more money,
there is a good chance that you can find some way to do
it – only if you take a little bit out of each paycheck.
Every time you spend money on something, you are
making a trade-off by not spending it on something else
or saving it. Only you can decide if the trade-off is
worth it. Just make sure you think about what the
trade-offs are when you spend.
Changes in spending can free up money for things you need, paying bills or saving. Small changes may make more difference than you think. See how small purchases can add up over time, think about your own small purchases, and make sure they are worth it to you!
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Movie and video game rentals: |
For one year |
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Rent three movies per week @ $4 each |
$624 |
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Rent one movie per week @ $4 each |
$208 |
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Rent one video game per week @ $5 each |
$260 |
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One video game late fee per week @ $5 each |
$260 |
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Soda and candy: |
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One can soda per day from vending machine @ $1.25 each |
$456 |
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One bottle 1 liter soda or water per day @ $1.50 each |
$548 |
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One large candy bar per day @ $.95 each |
$347 |
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One large candy bar & soda/water per day @ $2.20 for both |
$803 |
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Eating out: |
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One meal per day @ $5 each |
$1,825 |
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Lottery tickets: |
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One Instant per day @ $1 each |
$365 |
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One Instant per day @ $2 each |
$730 |
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One Instant per day @ $5 each |
$1,825 |
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Reading material: |
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Two paperback books per month @ $7 each |
$168 |
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One magazine per week @ $4 each |
$208 |
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One tabloid per week @ $1.60 each |
$83 |
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Cable television extras: |
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One Premium Movie Channel per month @ $10 each |
$120 |
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One Pay-Per-View per week @ $4 each |
$208 |
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Personal care extras: |
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One tanning bed visit per month @ $10 each |
$120 |
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One manicure two times per month @ $15 each |
$360 |
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Site Administrator: |
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Last update: Tuesday, May 05, 2009
