How much are your vices really costing you?By
During an economic crisis when everyone is trying to pinch pennies to make ends meet, how much do you think that daily $4.00 Starbuck’s is costing you at the end of the year when you tally it all up?
If you were to brew your own instead of buying a cup of coffee on your way to work, your savings could be about $700 per year, and that doesn’t even factor in the savings associated with not picking up that blueberry muffin on the side.
What could you do with an extra $700.00?
Evidently, the younger generations are a little smarter? They are foregoing that $4.00 latte and instead spending only $2.00 per can for energy drinks. But as Coleman notes:
Energy drinks are far from cheap to purchase, with a typical price tag of $2 or more for a can. If you drink several cans throughout the day while at work, you’ll put a serious dent in your wallet – on the order of $1000-$1500/year.
Of course, if you add cigarettes to the “vice” list, the costs really add up, according to Coleman:
A pack of cigarettes can cost $4-$5 (or more!) depending on where you live. So someone who has a two pack a day habit could easily be spending $240 per month, or $2,880 per year. Even cutting back to one pack per day can significantly increase your cash flow. If you were to quit smoking completely and invest that $2,880 per year and it grew at 8% annually for 20 years, you could amass over $104,000.
Of course, we haven’t even talked about drinks – I’m not just talking about alcoholic beverages, either. With five daughters, whenever we go out to a restaurant, if each of us ordered a soft drink or tea, that would add about $14.00 to our total tab: $2.00/drink X seven people (we’ve all learned to drink water at restaurants).
I wonder if we were to take a careful look at our expenditures, what we would find – what savings we might find. What can we do with such savings? Imagine how many more gospel ministries and missionaries all of us coffee drinking, energy boost needing evangelicals might support if we stopped and counted the cost.