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Article This article is part of the Missouri Saves Program |
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Small Amounts Add Up
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension
A few small changes in our spending can add up to big
savings. These savings can then be directed toward
meeting major financial goals. Take a look at how these
small purchases add up over a year's time.
Movie Rentals:
Rent 3 movies each
week for 1 year ($3.00 per movie)
$468
Rent 3 movies each
week for 1 year ($4.00 per movie)
$624
Rent 1 movie each
week for 1 year ($3.00 per movie)
$156
Rent 1 movie each
week for 1 year ($4.00 per movie)
$208
Soda & Candy:
1 can soda each
workday from vending machine ($.75)
$195
1 can soda or water
(20 oz.) each workday ($1.00)
$260
1 can soda or water
(1 liter) each workday ($1.30)
$338
1 large candy bar
each workday ($.95)
$247
1 large candy bar
& soda/water each workday ($1.95)
$507
Eating Lunch Out:
@ $5.00 cost each
day for 260 workdays
$1,300
Cigarettes:
One pack per day
($3.00)
$1,095
One pack per day
($4.00)
$1,460
Two packs per day
($3.00)
$2,190
Two packs per day
($4.00)
$2,920
1 can chewing
tobacco per day ($3.00)
$1,095
Lottery Tickets:
One Instant per day
($1.00)
$365
One Instant per day
($2.00)
$730
One Instant per day
($3.00)
$1,095
One Instant per day
($5.00)
$1,825
Drinks:
12 cans of soda per
week ($3.75)
$195
12 cans of beer per
week ($8.50)
$442
1 case of beer per
week ($15.00)
$780
Reading Material:
2 paperback books
per month ($7.00)
$168
1 magazine per week
($3.00)
$156
1 tabloid per week
($1.60)
$83
Acrylic Nails:
New set 3 times per
year ($25.00)
$75
Refill every 2 weeks
($15.00)
$390
Total per year
$465
Cable Television:
One Year Basic Cable
- 64 Channels ($32.50 per month)
$390
One Year Digital
Cable - 200 Channels ($46.50 per month)
$558
One Year Movie
Channel ($10 per month)
$120
One Pay Per View per
month ($4.00)
$48
One Pay Per View per
week ($4.00)
$208
One Pay Per View per
month ($10.00)
$120
One Pay Per View per
week ($10.00)
$520
To see the difference compound interest makes in savings, see "The Miracle of Compound Interest".
Sources:
Adapted from Sherron Hancock, Consumer & Family
Economics Regional Specialist, University of Missouri
Extension. Small Amount Add Up, Program Handout
M.A.P., University of Missouri Extension
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Last update: Thursday, March 27, 2008
