appy Valentines
month.
According to the
groundhog…aka Punxsutawney Phil, spring is soon upon us. February is also a 29-day month this year, so what’s coming in Chews Views? I’m going to help you find another $3,000-$4,000 each year to add to your wealth. How, you ask? Simply by packing your lunch!
Here are five great reasons to brown bag or small cooler your lunch:
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First, we will talk about the money you can save, then we will talk about the process. Save $3,000 - $4,000 a year and get a more solid body? Who wouldn’t, right? Well, the good news is if you’re eating out for lunch at work every day, these things are easily within your reach . . . if you start packing your lunch.
Consider the facts. The cost of
eating lunch out is $17.55 per meal on average, whereas preparing your own lunch costs around $4.30 per meal…that’s a $13.25 savings daily or $3100 plus per year, based on a 20 day work month.
So here is the real easy savings and investment math; Let’s say you started with $5,000 in an investment/savings/checking account with a 6% return rate, compounded annually for 20 years and you took the $3,100 annual “Packed Lunch Savings” and invested it annually, Guess what? In 20 years, you would have $152,700, and if we use an after-tax strategy, your withdrawals will be more tax-favored each year. More on that later. But either way, by packing your lunch you could have an additional pool of
money for your future wealth and financial lifestyle.
But that’s just for starters . . .
Taking your lunch to work is also a super-easy way for you to start improving your physique. By packing a healthy lunch every day rather than opting for fast food or a restaurant meal you’ll cut down on hundreds of extra calories each week. And because you won’t waste time in line buying lunch anymore, your lunch hour will seem that much longer.
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Photo Credit Christian Chen