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Lunch Savings Calculator
One of the best ways to increase your savings is to spend less. Even a simple change such as bringing a bagged lunch to work a few times a week can make a difference. This calculator illustrates how a little lunch savings can go a long way.
Definitions
- Expected Rate of Return
- This is the annually compounded rate of return you expect from your investments. The actual rate of return is largely dependant on the type of investments you select. For example, for the last thirty years the average annual rate of return for domestic equity stocks has been about 10%. Savings accounts at a bank pay as little as 2%. For the purposes of this calculator taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after tax rate of return.
- Years to save
- The number of years you are going to save your lunch money.
- Eating out lunch price
- Average price of your lunch when you buy your meal.
- Cost of bagged lunch
- Average cost of bringing a bagged lunch from home. Make sure to include the total cost of your lunch. If you buy a drink (instead of packing it) make sure to include that amount here.
- Number of bagged lunches per month
- The number of lunches you will bring from home each month. The average number of working days in a month is about 20.
- Monthly savings
- Total you should be able to save each month by bringing your lunches from home.
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