"A new survey found that 66% of U.S. workers buy lunch regularly -- spending on average $37 a week, and half buy coffee at work, at a cost of more than $20 a week" (http://money.msn.com/saving-money-tips/post.aspx?post=a4bfe6f5-2fc2-4955-8765-089ae1c1c88d)
So if we take the 57 dollars times 2 (husband and me)= 114 dollars saved a week times 52 weeks = 5928 dollars a year saved. However since I know never going out to lunch is not going to happen, luckily we aren't coffee drinkers so that won't be to hard so say save 100 dollars a week times 52 weeks that is 5200 dollars to invest in 25 years we will have 410,000 dollars based on getting 8 percent interest rate for retirement or a vacation home. So I am going to try to keep track of how much we spend on Lunch/coffee and invest what we don't spend. The husband buys lunch out a lot in the in season so basically April thru December, I am much better about only buying lunch on occasion. We will see how it goes.Since I don't know how much we spent last year on these items I don't know how much we are actually saving by cutting back (plus if you don't eat out you have to eat at home which does cost some more money in the grocery bill), however if many people spend money on coffee, lunches (not to mention going to bars, cigarretes) I figure we can save at least what many other people spend on these items. A single friend recently told me he sometimes drops 120 dollars in the weekend at the bar! He has an average salary.
By the way a great book to read is "Smart Couples Finish Rich" which explains how little purchases can make a huge difference in your finances. I guess I better stop the target trips!
I finally got the husband to setup automatic withdraws to fund his Roth IRA and I am funding mine as well, so we are starting to do better about saving for retirement.
Week 1 February 17-23
Starting: 114 dollars
spent: 3.50 lunch me: left 110.50
spent: 1 drink husband: 109.50
spent: 15 lunch out with husband: 94.40
Left at end of week 1: 94:50
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