I get asked a lot how to calculate the percentage saved on any given bill. I have an equation I have used for a while now. There is probably an easier way to come up with the percentage saved, but this is what my spreadsheet like mind came up with.
Equation:
Step 1: Amount Spent + Amount Saved = Total Value of purchase
Step 2: Amount Spent/Total Value = a decimal (we’ll call the decimal “A”)
Step 3: Multiply A x 100 = % Spent of total items purchased
Step 4: 100 – % Spent = % Saved of total items purchased
Example:
Let’s say I spent $11.00 and saved $76.00
Step 1: $11 + $76 = $87.00 (total value of my purchase)
Step 2: $11.00 divided by $87.00 = 0.12
Step 3: 0.12 x 100 = 12.6% (this is the percentage of money I spent on the groceries – So I spent 12.6% of what the grocery bill would have been w/o sales and coupons)
Step 4: 100 – 12.6 = 87.4% saved (I saved 87.4% on my grocery bill)
Thanks for coming to Addicted to Saving! Here’s a little bit about me so you can know who’s behind all these posts!
My name is Liza and I began my money-saving journey in the Spring of 2009 as a way to stretch a limited household income. I had lost my job and my hubby was self-employed. I launched Addicted to Saving in November of 2009 and it has grown by leaps and bounds. Since then, my hubby and I have struggled with the ups and downs of two failed adoptions and are now LOVING being parents to our little man Asher who we brought home from Ethiopia in August of 2013. I feel incredibly blessed to be able to help you save money. My goal is that you will have FUN and become empowered to save more and more money each week..
thanks for the math for that!!! I saved 67% on my bill today.. which is really good for me!
I saved 71.4% today! Would have been more, but my husband still insists on buying things we don’t have coupons for like produce and bread! How unreasonable! LOL!
Kim – Those darn necessities! Don’t worry, my percentage will be down this week since I’m going to buy around 20 lbs of chicken. =) fyi – despite your hubby’s very unrealistic requirements (is he going to require you to buy milk next?) 71.4% is still great!
Joanne – Great job to you too!! 67% is awesome!!
I cheat… I use:
http://www.sun-sentinel.com/business/sfla-calc-percentages,0,7088541.htmlstory
i saved 74% at publix!! thanks for the tip on how to figure it out!! oh and kim, it kills me to pay full price for produce, bread and milk too!! but i have to say I’m very thankful for all the $$$ I have saved so far!!