Editor’s note: This is a guest post from Kelsey Libert (see bio below).
When I quit my job in October, I did it in the opposite way most people would recommend. Three months padding savings account? No. Paid off all my debt? Quite the opposite. I had caught the entrepreneurial bug, and I wanted to make the leap.
Seven months later, I’m glad to say my entrepreneurial spirit has paid off, but unfortunately my debt balance would say otherwise. This is where The Cost of Your Vices was born.
We all live with the necessity to cut expenses, but what few of us consider are the costs of our daily vices. Let’s stop to consider the most common vice: the coffee break.
The average cup of coffee costs $1.38, and the average coffee drinker has 3.1 cups a day – this equals close to $5/day on coffee, and an annual expense of $1,511 a year. If you’re a humanitarian, you could stop to think that it takes $20 to bring fresh clean water to one person who doesn’t have it. That’s about the cost per week of a daily cup of joe. We haven’t even stopped to consider the health benefits of quitting this vice, such as coffee withdrawal and irritability, headaches and bowel disturbances.
The Cost of Your Vices quiz serves to educate us not only on the monetary benefits of quitting our vices, but also the health benefits and societal benefits. This quiz covers cigarettes, fast food, alcohol, fast food and lotto tickets, and serves up your annual financial savings based on your consumption.
Are you ready to quit your vices and pad your savings account? The average quiz taker can save over $1,000 a year! Find out what you stand to save.
Kelsey Libert is a speaker, entrepreneur and director at Fractl.