Life Times Newsletter

Spring 2006
Vol. 8, No. 2



Small amounts add up: See if you can find the money!

Sherron Hancock, MS
Family Financial Education Specialist
HancockS@missouri.edu

Summer is quickly approaching, and we all want to head off on vacation to have a fun, relaxing time with our family. This may be impossible if a vacation has not been identified as a family goal, and if no money has been set aside for this purpose. Where can the money be found at this late date?

Spending small amounts of money every day can add up to a large sum over a years’ time. Most of this kind of spending doesn’t even factor into the budget for many of us. Cutting back, or cutting out, on spending on the incidental items listed may make a vacation possible after all. See if you can find the money!


Movie Rentals ($3 per movie/video game)                     PER YEAR
Rent 3 movies or video games each week for 1 year............................. $468.00
Rent 1 movie or video game each week for 1 year................................ $156.00
(Note: In 2004, Americans spent $2 BILLION in late fees for movies and video games!)

Soda/Water & Candy
1 Soda or Water (20 oz.) @ $1.00...................................................... $365.00
1 Soda or Water (1 liter) @ $1.30....................................................... $474.50
1 Large Candy Bar @ 95 cents.......................................................... $346.75
1 Candy and 1 Soda/Water each day for 1 year................................... $711.75
 

Eating Lunch Out
1 lunch @ $5.00 each day for 260 days............................................. $1300.00

Cigarettes
One Pack per day @ $3.00 per pack................................................ $1095.00
Two Packs per day @ $3.00 per pack............................................... $2190.00
One Chewing Tobacco @ $3.00 per can............................................ $1095.00

Lottery Tickets
One Instant per day @ $1.00........................................................... $  365.00
One Instant per day @ $2.00........................................................... $  730.00
One Instant per day @ $3.00............................................................ $1095.00
One Instant per day @ $5.00............................................................ $1825.00

Drinks
12 Cans of Soda per week @$3.75..................................................... $195.00
12 Cans of Beer per week @ $8.50..................................................... $442.00
1 Case of Beer per Week @$15.00..................................................... $780.00

Other items to watch closely . . .
Acrylic Nails, Personal Grooming, Dog & Cat Food, Computer Supplies, Hunting & Fishing Supplies
(Figures are based on local convenience store prices.)


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University of Missouri Extension Editor: Roxanne T. Miller
MillerRT@missouri.edu