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)
{ 5 comments… read them below or add one }
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!!