Success is about making the right choices
I was traveling to work today and I decided against my better judgment to stop and get some Crispy Cream Doughnuts and an ice tea. Now I usually would get two doughnuts and Vitamin water but today I opted for three doughnuts and a tea instead. So where is all this going? Well let me get right to it. The woman at the register rung me up, and then she said it. That will be $3.84.
As I stood there something very odd came across my mind. It was how much I was going to enjoy the doughnuts. It was not how nice a day it was. It was the $3.84. You see I bought doughnuts; you may have bought coffee from Star bucks or Breakfast at McDonalds. It’s all the same, a big fat waste of money.
We each are tasked with making decisions in life. How sad is it that I decided to opt for three doughnuts and a 16 ounce sweat tea? Well I will tell you why it is sad. The decision seems innocent at first but deep down it is a really bad choice. The $3.84 is just the start of the problem. Not only am I going to tell you why, but I am going to draw it out for you.
My Doughnut Calculations
3 Doughnuts & One 16oz. Sweat Tea = $3.84
X 5 Days a Week
__________________________________________
= $19.20 x 4 Weeks = $83.20 A Month x 12 Months in A Year = $998.40 Spent Each Year
Your monthly deposit of $83.20 for 25 years with an interest rate of 9.00% compounded Monthly with an initial starting balance of $1.00
|
Year |
Balance |
|
1 |
$1,043.56 |
|
2 |
$2,188.24 |
|
3 |
$3,445.04 |
|
4 |
$4,824.93 |
|
5 |
$6,339.99 |
|
6 |
$8,003.43 |
|
7 |
$9,829.81 |
|
8 |
$11,835.08 |
|
9 |
$14,036.75 |
|
10 |
$16,454.08 |
|
11 |
$19,108.17 |
|
12 |
$22,022.22 |
|
13 |
$25,221.70 |
|
14 |
$28,734.55 |
|
15 |
$32,591.48 |
|
16 |
$36,826.19 |
|
17 |
$41,475.67 |
|
18 |
$46,580.56 |
|
19 |
$52,185.45 |
|
20 |
$58,339.33 |
|
21 |
$65,095.96 |
|
22 |
$72,514.38 |
|
23 |
$80,659.42 |
|
24 |
$89,602.24 |
|
25 |
$99,420.98 |
Final Savings Balance: $99,420.98
Yes, that right in 25 years I will spend and lose returns to the tune of $99,420.98! Wow, those are some expensive doughnuts. So I know what you are saying those numbers are not exact. The numbers if I stick to my doughnut diet are spot on. At worst they are very close even if I don’t east doughnuts each day.
We All Have Our Doughnuts:
Oh, so you don’t like doughnuts and you are saying Jeff what is the point? The point is that we all have our vices. Maybe yours is candy. Maybe yours is cigarettes. Maybe it is beers. Maybe yours is fast food. Maybe yours is something else, but I am willing to bet you totally get where I am going. Now let me throw one more thing out to you. If your spouse is doing the same thing, then double the money lost.
The money we are throwing away on stuff that is not healthy to us is horrible. I am going to give up almost a hundred grand over the next twenty-five years, and the thing I am wasting the money on something that will most likely put me in an early grave?
People, our lives are all about decisions. Our future depends on us making good choices when it comes to our health, our financial success, our families, etc. We have to exercise some discipline in order to be the best we can be. We have to make the right choices and stick to them. Those few doughnuts impact you more than you will ever know. Eating doughnuts is not a financially sound decision. It is not a good health decision. It is not a good self awareness issue when you are fifty pounds overweight because you choose to eat doughnuts every day.
THE CHOICES YOU MAKE DO IMPACT YOU!
They may not impact you today or tomorrow, but believe me they impact all of us. You can bet your doughnuts on it!
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