By reducing your expenses and saving the money in a very short amount of time you can have saved a surprisingly large amount of money. To begin reducing expenses it is important that you start a budget so you can see where your money is going. When you see where your money is going it is easy to make reductions in your spending. By bringing lunch from home or quitting smoking you can begin a savings plan.
Let's say that you decided to quite smoking and invest the money saved. How much will you have at the end of 10 years assuming you invest $150/month at 10% interest per annum?
At the end of 10 years will you have:
You will have over $30,000!
At the end of 20 years you will have over $110,000!
At the end of 30 years you will have over $330,000!
Prove it yourself! Click here to use the Calculator.