What does it take to blow $10,000 a year?
What does it take to blow $10,000 a year? Just $27.40 a day in miscellaneous spending.
Yep. That's crazy!
That's means buying a coffee for breakfast and a sandwich for dinner can easily cost you 10k a year.
A pack of cigarettes and some snacks can also add up to 10k a year.
Weekly manicures, a monthly facial and monthly hair coloring treatments can also add up to 10k a year.
Or there's other things you can do with 10k.
You can start saving to purchase a home. Depending on where you're buying that can take 2-3 years of saving that 10k. (Of course keep the money is a high yield saving account. Read more about that here.)
Or you can put it into a rainy day fund. Think buying a new car, replacing your roof or an emergency medical expense.
Or you can put 10k in a Roth IRA. That allows your earnings to grow tax-free and you'll be able to take withdrawals in retirement without paying any income tax on the money. If you contribute 5,000 dollars per year to a Roth IRA and earn an average annual return of 10 percent, your account balance will be worth a figure in the region of 250,000 dollars after 20 years.
Or you can buy coffee and dinners. You choose.
