Smart spending strategies for dual college and retirement.
The Johnsons' substantial income ($450,000 annually) masked underlying financial pressures. They struggled to optimize spending on major expenses like family travel and extracurricular activities for their three children (ages 8-15), while aggressively saving for both college and a comfortable retirement. They felt they were overpaying but lacked the tools to quantify the true cost impact.
Using the Consumer Surplus Calculator, The Johnsons analyzed various spending categories, starting with family vacations. They discovered they were allocating $25,000 annually to trips where comparable experiences could be found for $10,000 by leveraging agent-labor arbitrage to identify travel agents specializing in cost-effective options. This revealed a potential consumer surplus of $15,000 per year, which they redirected towards college savings accounts.
The Consumer Surplus Calculator was used to quantify the difference between perceived value and actual cost for key spending areas. The Agent Labor Arbitrage Calculator assisted in identifying lower-cost alternatives. Data was collected manually and inputted into the calculators.
$15,000 annual increase to the college savings account plus an additional $5,000 after the first year by optimizing additional programs and services.
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