How often do you see articles containing money saving tips? Make dinner more often and eat out less, rent movies rather than going out, bring lunch to work rather than visit a restaurant, take advantage of coupons, and brew your coffee rather than driving-through Starbucks.
these tips worthwhile? If we spare the $8 expense of a lunch five days
per week, 50 weeks per year, we could save $2,000 - nothing to scoff at!
However, what's the cost of these savings? Eating at our desk everyday
removes our ability to get outside and away from our work for that
important hour, and prevents us from spending time, talking to, and
laughing with friends. Is there a better way? According to a new
study (http://www.bls.gov/news.release/cesmy.nr0.htm) released by the Department of Labor, the average U.S household
earns $65,132 per year before taxes, and spends an average of $50,631 on
annual expenditures (excluding taxes and savings). Of that spending,
$20,093, or 39.7%, goes towards housing expenses.
another 22.1%, goes towards transportation and automobiles. Combined,
those elements make up 61.8% of the average household's spending! By
comparison, only $10,835, or 21.4%, of our spending goes toward food,
apparel and services, and entertainment combined. If we are going to
explore ways to reduce spending, shouldn't we start with the elements
that are costing us the most? Let's look at that in Part 2.
Question for the Reader: Where do you suspect you can cut for the most savings?