Money Talks News: How not pay $200,000 on lunch - News, Weather, Sports, Toledo, OH

Money Talks News: How not pay $200,000 on lunch

(Source: Money Talks News) (Source: Money Talks News)
Money Talks News -

Having lunch with your co-workers or grabbing a cup of gourmet coffee can seem harmless.  But over your working life, something as seemingly simple as lunch could be costing you big time.

Several years ago, placement firm accounting principles did a survey and found that more than 50 percent of American workers spend $1,000 a year on coffee while at work, and 66 percent spent $2,000 on lunch.

That doesn't sound like all that much until you start multiplying it over your working life. About $3,000 a year over 30 years of working is 90,000. Because that $250 a month, if you invested it at 5 percent, it would be over $200,000. Now there's some food for thought.

 Another interesting finding is you'd think that older workers would presumably make more money, and thus spend more on stuff like gourmet coffee and lunch, but such is not the case.

In fact, workers under 35 spent nearly twice as much on coffee weekly as those over 45. And 40 percent more on lunch.

This suggests that younger workers haven't quite caught on to the fact that's it the little things in life that can either cost you a ton, or make you a ton, over long periods of time.

Of course, we've all got to eat but you can bring lunch and coffee from home for a fraction of the cost. So next time you eat out remember all of the facts you just read.

For more tips head to the money talks website and do a search for $200,000 Lunch. 

VO Then go to MoneyTalksNews.com and do a search for the $200,000 Lunch. For MTN, I'm SJ.
 

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