The cost of coffee
There are 230 working days in a year. If you buy a coffee each morning it may cost you in the region of £2.50 per day… which seems affordable. Multiply that daily £2.50 by the number of annual working days and you will soon discover you are spending £575 per year. For a basic rate tax payer that is £845 of your pre-taxed/NI income you spend on coffee. If you spend £3 on lunch each working day you will find it costs you £690 per year (£1,014 from your pre-tax income). Alternatively if you made your own lunch for about 80p you would find that would cost you around £184 per year and you would save £420 per year. If you are a 15 a day smoker, the average packet of 20 cigarettes now is around £10. The total cost of this would be £2,737 per year (£4,025 of your pre taxed income). We can all be guilty of impulse buying, or perhaps you need to replace a household appliance. By planning ahead and using discount sites, such as those that Employee Benefit schemes can put in place - there is money to be saved. This can also be true when buying gifts for friends and family. For example, by using certain discounts and deals sites we use you could save*: 20% off at H Samuel 6% at Argos 10% at buyagift.com 6% on Love2shop vouchers
Scrutton Bland run regular financial education sessions for all types of organisations, helping them to understand the options available to their employees in becoming more financially savvy. If you would like to find out how you can review or start an employee benefits programme contact Steph Gordon on steph.gordon@scruttonbland.co.uk or tel 0330 058 6559 .
The lunch crunch
Your money in a puff of smoke
Paying over the odds – being savvy about present buying
*Discounts may be subject to change. Some discounts are immediate and others may come in the form of cash back after purchase.
E M P L O Y E E B E N E F I T S | S C R U T T O N B L A N D | 3 9
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