There Is Such A Thing As A Free Lunch. It Could Make You Rich
Don’t believe people who say there’s no such thing as a free lunch. In fact, free lunches could see you saving $55,000 towards a house deposit after 10 years.
19 October 2021
JUNO Investing magazine’s research suggests Kiwis spend between $8 and $20 a day on buying lunches from restaurants, cafes and takeaway joints instead of taking leftovers to work.
If they used leftovers or home-made lunches, and invested the money they saved, instead of being worse off by $174 to $435 a month, they could be thousands of dollars better off.
A Kiwi spending $20 a weekday on food and drink could earn $55,842 if they took leftovers to work and instead saved that money in an investment fund.
JUNO’s projections were run on www.thecalculatorsite.com’s compounding interest calculator and adjusted for 2% inflation per year. They assume an average return of 4% per year, say in a balanced managed fund.
Even if you only spent $8 a weekday on food, that would still add up to $174 a month. Invested, with compound interest, that would earn you a healthy $22,863 over 10 years.
Statistics New Zealand data shows that in 2019 the average Kiwi household spent $67.70 a week on restaurant meals and ready to eat meals.
Of that, meals bought at restaurants added up to $26.50, and ready-to-eat meals were $39 a week.
If you struggle to have food left over, or don’t have a microwave at work, you could buy supermarket lunches for just $3 a day per person:
Here’s an example:
· Instore Bakery wholemeal bread rolls, 6-pack $4
· Farmland Just Cut Ham 100g $4
· Anchor Cheese Slices Processed Colby $3.80
· Iceberg lettuce $3
That’s just $14.80 for a week’s home-made lunches for one: $2.96 per person per day.
* Supermarket prices from Countdown online shopping.
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