We have some easy to use calculators that show just how much coffee and other extras really cost.

Did you know that a cup of coffee each day can cost you over $93,000?

As we start try and save money we usually do so with a commitment to make some positive changes in our lives today to make a life easier in the future. But do you really know what a small change or two can make?

You can use the calculator as 'motivation' to start saving small, because you will see that a small change can make a massive difference to your future financial security.

In our first #coffeecalculator - Calculator A below, we have shown the cost of each small item and expanded it over a week and a year. If you are brave enough, you will then move onto the next two calculators.

Instructions for Calculator A

Simply enter the details as requested, the results are instant.

Are you ready for the true cost of your coffee?

The next two calculators will help you to understand the real cost of your extras over time. Simply complete Calculator A with your current savings and time frame for retirement and then complete Calculator B by adding in the yearly cost of those little extras.

Instructions - Enter the following:

  • Initial Amount - Enter your current savings
  • Annual Contributions - How much you currently save each year - For Calculator C, add the amount you spend each year from Calculator A results
  • Annual Interest Rate - Expected interest rate - For example 8%
  • Number of years - The number of years that you wish to save for.

Take a look at the difference between the two results - Start saving!!!

Calculator B

Calculator C

Points To Note

What surprises people is the massive amount of money saved in the later years - This is a result of 'Compound Interest'. Investing over time acts like a snowball, it starts small but as you keep at it, it accelerates.  You can read more about compound interest at the popular post:

Your savings results can be greater than what is shown here - To buy these items you need to use after tax money. If you invested the money required to buy the items before being fully taxed, say in a retirement plan, the savings benefit would be greater.

The effect of inflation has not been taken into account.

These earlier Posts will also help you:

photo credit: Espresso Hobbyist via photopin cc