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A way to be $48,000 to $60,000 richer in a decade!

Thursday, August 21, 2014

My blog post on what I had for lunch yesterday attracted an interesting response from a reader who is in his 20s and who is new to my blog.

He said that his breakfast is typically bought from Subway or McDonald's near his office. These would cost him about $5.00 to $6.00 every morning. His lunch would cost as much or, usually, more. Any amount between $5.00 to $10.00 for lunch is quite normal.



Then, if he should stay in the office to put in extra hours in the evenings, he would spend another $10.00 on dinner which usually includes a cup of gourmet coffee from Coffee Bean. I was surprised it wasn't Starbucks but that is not the point.


Anyway, typically, he would spend some $400 to $500 on meals at work every month. Over the course of a year, it would amount to $4,800 to $6,000. That is quite a bit of money for someone who is making under $3,000 a month.

Anyway, the long and short of it is that the reader is thinking of making his own breakfast and lunch for work now, winning a stamp of approval from AK!

If he is good at this, he is going to be $48,000 to $60,000 richer over the course of a decade. 

I cannot see how that is not a tidy sum of money to have and this is assuming he leaves the money in a biscuit tin (or mooncake tin) at home too. No interest income and no investment income.


Related posts:
1. A quick and economical lunch.
2. Afternoon tea break with AK.
3. Economical gourmet sandwich.
4. What's for lunch?
5. Seven money saving habits.

7 comments:

Singapore Zoro said...

Breakfast for me is usually a fruit and roll oats too and 2 big glasses of water to fill my stomach. I think we share the same taste or distaste for food... haha

AK71 said...

Hi Zoro,

I just need a simple and filling breakfast to start my day. It helps if it is inexpensive. ;p

Oatmeal is so simple and fuss free that I often have it for lunch too. :)

Siew Mun said...

I hardly spend $1 per day out of pocket. Make and bring my coffee in a Thermos - Traditional La Kopi-O Kau cost maybe $0.20 with egg /bacon bread $1.00.

Exit the MRT train stn before 7.45 am - free.

Lunch-Box lunch from last night leftover. My children commented that I become a Sai-Tang (Sh*t Bin)

AK71 said...

Hi Siew Mun,

You are a good role model for your children! They will appreciate it when they are older and become parents. :)

apex property investment said...

Hi AK71,

I'm amazed by your frugality. I've been reading 1st Mr Money moustache and his philosophy on dividend stock and frugal living. He had retired at 30 and chose a life of frugality. Recently, I've read http://earlyretirementextreme.com Mr ERE on living on $7000 a year of expenses. We really do not need a lot to retire. If only our health and contingencies are taken off... Anything else is a bonus. I'm sure with your way of life, you can already retire easily and working is just your way of socialising.

I do hope young people are taught these early on in their life so they may not waste time socialising and unnecessary pursuits. Did someone say 'lim kopi in Starbucks'? Not me...

I do like to quote Mr ERE, why do you earn money to spend on someone to cook for you and to spend on someone to make you laugh... once the philosophy is aligned, you may find the earn to spend cycle meaningless.

Cheers! eat more nutritiously and exercise more. Health is wealth.

ck

AK71 said...

Hi CK,

We all make choices in life. Do we want an opulent lifestyle or a frugal lifestyle? If we have a lifestyle that is high maintenance in nature, then, we need more money.

I know there are people who laugh at what I am doing. To them, trying to make more money is the only way to go. After all, how rich can we become by saving money?

I agree that we should all try to increase our earned income and it is something I blogged about many times before too. However, I will also ask them how rich do they want to be? LOL.

Thanks for the reminder to exercise more. I must do better in this department. -.-"

AK71 said...

From my FB wall:

"Remember that the savings do add up and although it might be small change to some people, to the vast majority of people in Singapore, it does make a difference."

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