Let’s face it, we all spend money on those luxury services that we are often too lazy to do ourselves. But have we thought about the costs?
How often do you look at your bank balance at the end of a month and wonder where it all went? You don’t remember spending that much. Life is rushed and convenience wins, from morning lattes at your favourite coffee bar to home pet grooming services.
Being a professional, you more than likely work in the business sector of town, and of course things cost more. A business lunch could cost the same as take out for the whole family or a lunchtime manicure could be triple the price.
If we add up the cost for all these luxury conveniences over a year or even ten years, you might be shocked at the total. You could be spending up to $120 000 over a period of 10 years for convenience.
What would you do with $120 000 if you saved it over 10 years? A deposit on a new home? Buy that sports car you always wanted? Buy that second holiday home?
Average costs of convenience services over a period of ten years.
This article’s intent is not to make you into a money scrooge or to live frugally, but to create awareness of things we often waste money on without realising. The next time you wonder where all the money went or put off saving, think about what you spend your money on.
* https://www.rd.com/
Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.
* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.
deVere Acuma’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines. Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Acuma’s Head of Media and Public Relations for deVere Group on [email protected] or call +971 2071220925