According to an article published on Reuters, Americans spent $73 billion on soft drinks in 2008. If you divide that number equally with the total population in the U.S. during 2008, which was 304,059,724 according to the U.S. Census Bureau, you get an average of about $240 spent per person.
Sadly, at one point my husband and I were spending significantly more than $240 a year on soda. After doing the math, I learned we were spending around $25 a week or $1,300 a year on soda a few in 2011. I was shocked we were throwing all that money away, so we made changes to reduce that number. Now in 2013 we have made even more changes, which has saved us more money. This is how giving up sodas saved us money, and what we plan to do with that money.
What we were spending on sodas.
For as long as I can remember sodas (soft drinks) have been a staple in my diet. I even have a scar on my arm from falling while holding an old glass bottle of soda when I was a small child. My addiction to sodas has accompanied me throughout my life with brief breaks in between. Not only has it taken a toll on my health, but it has also affected my back account.
Three years ago my husband and I made a drastic change in the amount of soda we drank, and that change translated into a $676 a year savings. We went from spending $25 a week or $1300 a year, to spending $12 a week or $624 a year.
What we are spending now.
Shortly after ringing in the 2013 new year, we decided to make some changes to live a healthier lifestyle. Part of that was getting control of our soda consumption. We started out limiting the number of sodas we had each day to nearly eliminating it completely. I say "nearly eliminating" because we aren't forbidding ourselves from having a soda, but we aren't keeping them in stock anymore. This change will save us $12 a week or $624.
What I have planned for the savings.
With the recent expiration of the Social Security holiday, my husband's total tax with-holdings will go up by 2%, which means we will be losing $1000 in income each year. I plan to reallocate our soda savings to make up that loss of income.
Giving up sodas isn't the easiest thing I've ever done, but after seeing the health and financial benefits, I can see that it is worth it.
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