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College Financing and Career Guide 2007
Getting started in life
There will be a lot of firsts now. See how getting off to a sound start will pay dividends for a lifetime.
Getting started in life
Saving for retirement early pays big dividends
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As you set financial goals at different points in your life, you'll need a way to achieve them. Besides saving for retirement, you'll probably want a new car, a home, children, vacations and so on. If you get into good saving habits now, you can attain all of these.

To help you get on your way, we figured out how to save $422.85 each month. You can still have your coffee, watch cable TV, have a movie night and a healthy lunch. (We also show how we calculated these figures.) So which way will you go: the spender road or the saver route?

Where to find $422.85 each month for retirement savings
Expense: Coffee    
Spender: Starbucks Grande: $46.50 Calculation
Saver: Make own coffee: $  6.00 Calculation
Saved:   $40.50  
Expense: Cable TV    
Spender: Basic + expanded Basic: $43.00 Calculation
Saver: Basic cable: $14.30 Calculation
Saved:   $28.70  
Expense: Movies    
Spender: Movie in theater with small popcorn and soda: $76.00 Calculation
Saver: Rent movie, make own popcorn and soda: $32.35 Calculation
Saved:   $43.65  
Expense: Dinner date    
Spender: Saturday night dinner for two at restaurant: $320.00 Calculation
Saver: Saturday night dinner for two at home: $120.00 Calculation
Saved:   $200.00  
Expense: Lunch    
Spender: Buy lunch at store: $154.00 Calculation
Saver: Make lunch at home: $  44.00 Calculation
Saved:   $110.00  
 Total:   $422.85
-- Posted: July 2, 2007
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