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The Economics of: Buying nothing new February 2016

The Economics of: Buying nothing new February 2016

As March draws to a close, I thought I should look back and update the Sasquatch family’s numbers for buy nothing new 2016. Our numbers for February are a little more modest coming in at a savings of $119.50. (see chart). According to our spreadsheet most spending comes in the form of gifts and items for others. 

February Savings Chart

February Savings Chart

Using our handy 40 year calculation at 5% a 1 time savings of $119.50 would turn into $841.28. Like the month of January’s savings this is 7 times the initial deposit. 

If we saved this same amount monthly at 5% over 40 years we would have a whopping $181,888.22. Not too shabby! If we average the first 2 months of our savings for this year’s resolution we have $297.25 a month in savings. Saving this amount monthly for 40 years we would have: $452,437.43, which is fantastic and has been relatively easy to do. More updates to come!

Buying Nothing New 2016

The Economics of: Buying Nothing New March 2016

The Economics of: Buying Nothing New March 2016

Say Cheese!

Say Cheese!