I have neither used, demonstrated nor promoted this app; however, an interesting approach on how all purchases reduce savings and impact your nest egg when fast forwarding to retirement years....yes, even those daily guilty pleasures - Starbucks ("Fourbucks") coffee purchases.
Some people I know or have worked with voyage down into those food courts or must enter a higher end, corner coffee shop a few times a day. Not only are they spending say $8 to $12 on coffee every day (let's say, weekdays), this is in addition to the $20 to $25 in parking per day (convenience of your own car versus public transportation or walking or cycling), and the $15 to $20 in lunch and Timbits (again, let's assume on a weekday).
Adding these items up could range from $43 to $57 per day or, excluding weekends, $215 to $285 per week!
I don't own a car, but unable to escape car and car financing commercials, these expenditures would be able to finance one from what I've seen. In other words, if you already have car payments, then behaving like this would be the equivalent of paying for two cars in terms of the money in your wallet at the end of the day.
Nevermind all those minutes in a coffee line at 930am and 2pm each day!
http://business.financialpost.com/personal-finance/retirement/your-money-will-a-countdown-clock-to-retirement-help-you-save/wcm/7eaf82b7-32fb-4c1b-a71c-994979857e39
No comments:
Post a Comment