The average vending machine snack costs $1. It can be so convenient to just grab a quick snack between classes. If a person purchases a snack every day between classes (Monday-Friday), they would pay $260.00/year on vending machine snacks. Research has shown that it is relatively easy to save the cost of these expenditures. Professor Marsh did his own study comparing the cost of 7-11 (comparable to vending machine mark-ups) with purchasing snack items in bulk at Costco. The mark-ups were as high as 215%. If an 18-year-old could save just half of the $260.00/year he/she was spending on vending snacks, this could be worth nearly $300,000 at retirement. Use the links below to learn more about this savings possibility
- Vending Snacks versus Costco Snacks. Click here to see a portion of the study Professor Marsh did comparing the prices of snacks at Costco versus those purchased in convenience stores. See how easy it is to save and still enjoy the great snacks you enjoy so much.
- http://finance.yahoo.com/banking-budgeting/article/103379/Top-10-Money-Drains Spending money on vending machines was listed as one of Bankrate’s top 10 money drains. See what they said about this spending category right here.