Snack habit that could cost $70,000 over 20 years - New York News

Snack habit that could cost $70,000 over 20 years

Updated:

By: Amberlee Lovell, WorldNow

Picking up convenience store snacks is a habit that could cost more than $70,000 within a 20-year time period, according to Barbara Friedberg, a personal finance adviser.

“As a volunteer tax preparer for lower income folks, I was amazed at the frequency during which the clients came in with a convenience store snack; small pack of cheese crackers, a soda, a candy bar, or another quick item,” Freidberg wrote in her article. “In contrast, before my three hour shift, I packed a drink and snack for myself at home and brought it with me.”

A sweet roll from a convenience story could cost $2, coffee another $2, a pack of crackers and cheese $1.25 and soda $1.70; that adds up to $6.95.

If those same snacks are brought from home, a donut costs 75 cents, coffee 50 cents, crackers with cheese 75 cents and soda 25 cents, which is a total of $2.25.

Friedberg's point is by eating the same snack at work brought from home rather than a convenience store, a person can save $4.70. When multiplied by each day of the year, that's $1,715.50. If that money was invested rather than spent on pricey snacks, a mutual fund with seven percent return would make it $70,307 by the end of 20 years.

The problem with replacing convenience store habits is just that: convenience. Friedberg suggests taking a few hours one week to buy supplies and store them at work or in the car for when they're needed. Ultimately, it comes down to deciding if the convenience is worth thousands of dollars in the future.

Original post

Copyright 2013 Deseret Digital Media, Inc.

  • Local NewsLocal NewsMore>>

  • New York's smallest piece of private land

    New York's smallest piece of private land

    Thursday, July 31 2014 8:52 PM EDT2014-08-01 00:52:57 GMT
    The Hess triangle is a tiny piece of private property in Greenwich Village. Manhattan historian Joyce Gold explained the origins of the property: After World War I, New York City seized a beautiful residence and tore it down so it could extend Seventh Avenue and the west side subway below it. The city left the building's owner only a tiny scrap of property so small it requested he donate the triangle to make way for a sidewalk. The man refused, took the city to court and won.
    The Hess triangle is a tiny piece of private property in Greenwich Village. Manhattan historian Joyce Gold explained the origins of the property: After World War I, New York City seized a beautiful residence and tore it down so it could extend Seventh Avenue and the west side subway below it. The city left the building's owner only a tiny scrap of property so small it requested he donate the triangle to make way for a sidewalk. The man refused, took the city to court and won.
  • Runners of 3,100-mile race in Queens seek spiritual experience

    Runners of 3,100-mile race in Queens seek spiritual experience

    Thursday, July 31 2014 7:26 PM EDT2014-07-31 23:26:44 GMT
    Since mid-June, 14 runners have been on a mission that is spiritual at its core. They are running the Self-Transcendence 3,100 Mile Race in Jamaica, Queens. Spiritual leader and former Queens resident Sri Chimnoy, who died in 2007, created the race, which lasts 52 days.
    Since mid-June, 14 runners have been on a mission that is spiritual at its core. They are running the Self-Transcendence 3,100 Mile Race in Jamaica, Queens. Spiritual leader and former Queens resident Sri Chimnoy, who died in 2007, created the race, which lasts 52 days.
  • Road-trip vacations that don't break the bank

    Road-trip vacations that don't break the bank

    Thursday, July 31 2014 5:37 PM EDT2014-07-31 21:37:29 GMT
    Last-minute vacations don't need to be a headache or ridiculously expensive, especially if you make it a road trip. Even if you don't have a car, renting one can be an affordable option.Lauren Lyons Cole, a personal finance contributor to TheStreet.com, has some suggestions.
    Last-minute vacations don't need to be a headache or ridiculously expensive, especially if you make it a road trip. Even if you don't have a car, renting one can be an affordable option.Lauren Lyons Cole, a personal finance contributor to TheStreet.com, has some suggestions.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices