For example, you might decide that you would like to give up a $6 per day smoking habit.  If you quit smoking, and at the end of each year invested the money that you would have spent on cigarettes, how much would your "Quit-Smoking Investment" be worth after 10 years if you received a 3% return on your money?  Try this example--the result might surprise you.

First, fill in the Activity, Cost, and Frequency boxes in the calculator above.  Next, select the appropriate time interval from the drop-down menu in the frequency section (Week is the default, but you may also select Day, Month, or Year).  Then click the "Calculate Yearly Savings" button.  Finally, fill in the Years and % boxes and click the "Calculate Total Nestegg" button.

You don't have to use this calculator only for behaviors you want to eliminate. You can also use it for things you want to cut back on. For example, you might want to cut your eating-out expenses by $50 per month.