This is a little tidbit that I found at The Dollar Stretcher.

http://www.stretcher.com

We all know that little things can add up in a hurry. But, often we fail to realize just how much the small stuff is costing us.

As a junior high math teacher, it's always fun to shock my students by having them work up a few calculations like the ones below.

I can always hope they'll become frugal adults someday!

A $1 soda every day for a year = $365

If you must have that $3 latte instead, your annual cost = $1095

Paying just one bill with a $3 late fee every month for a year = $36

Over the course of a 50-year adulthood, that late fee = $1800

One fast food meal ($16 for a family of 4) per week for a year instead of quick hotdogs at home (about $4) = $624

If your family usually prefers the local buffet for $28, those annual hotdog savings would = $1248

If you buy a bag of ice for $1 every two days instead of making your own, your annual ice cost = $182.50

Keep buying that ice for 50 years of your adult life, and its cost = $9125

If you discard half a gallon of spoiled milk per week at $2.30 per gallon, in a year your waste will = $59.80

Keep wasting that milk for 50 years of your adult life, and your loss will = $2990

If your family buys half a pound per week of $5/lb. deli cheddar cheese instead of $3/lb. American slices, your annual cost = $52

If you keep buying the cheddar for 50 years of your adulthood, its extra cost = $2600

If you mail five bills per month at a cost of about 40 cents each instead of using free online banking, your annual cost = $24

If you continue to mail your bills for 50 years, your cost = $5200

If you buy four new books per year at an average cost of $15 each instead of buying used at around $4 each, your annual added cost = $44

Keep buying those new books for 50 years, and your cost = $2200

If you rent one new release video per week at $3.50 for a year, your cost over borrowing from the library = $182

Keep renting those videos for 50 years, and your cost = $9100

If you buy the premium cable package at an additional $35 per month, your annual cost over basic cable = $420

Keep buying that premium package for 50 years, and your cost over basic cable = $21,000

If you carry a credit card balance of just $1000 for a year at 18% annual rate, your annual interest = $180

If you keep the $1000 balance for 50 years without ever paying it off, your interest = $9000

So yep, those "little things" do add up!

# Those little things do add up!

July 23rd, 2006 at 06:49 pm

July 23rd, 2006 at 08:27 pm

Hmm....

July 24th, 2006 at 05:44 am

This would be $104.00. I am not being mean, but your students need the correct answer or they will correct you, which is even better, cause then you know they are doing the math.