The Biggest Waste of Money - Suze Ormn

[Anonymous]

Suze Orman, with a net worth over $75 million, says the biggest waste of money is eating out. She never eats out and will never buy a cup of coffee.

Isn't this quite shocking, even for a financial guru?

[Anonymous]

She knows these type of extreme statements get her attention, air time, relevance, clicks, book sales, product sales. She’s interested in her wallet, not yours.

Use your brain, look at your financial picture, and enjoy your life on your terms.

[Anonymous]

It may not be shocking, but it sure is stupid. I’m enjoying a beautiful view of the water as we speak, for the price of a cup of coffee. They weren’t going to let me sit here for free!

[Anonymous]

Warren Buffet also lives very frugally for a person of his wealth. But Suze didn’t get her $75 million just by skipping her daily Starbucks. I think Elizabeth Warren was more accurate when she said high fixed costs like housing will be more of an impediment to financial success.

[Anonymous]

That might be click bait overstatement, but she had a point. Eating out is a waste of money, but not the biggest.

[Anonymous]

Anonymous wrote:She knows these type of extreme statements get her attention, air time, relevance, clicks, book sales, product sales. She’s interested in her wallet, not yours.

Use your brain, look at your financial picture, and enjoy your life on your terms.

+1 Her statements are meant for the idiots who actually believe her.

[Anonymous]

What a weird cheap o. $75m and doesn’t eat out? It’s a form of entertainment. If you enjoy it, it’s worth it.

[Anonymous]

I liked the article - I read it a few days ago

[Anonymous]

It's true, though I do classify eating out as entertainment too. Same thing with coffee. Daily - no. Occasionally as an outing? Sure. Takeout I try to keep low, or I'll pick up a cheese pizza for my kids and make myself something later.

[Anonymous]

Anonymous wrote:Suze Orman, with a net worth over $75 million, says the biggest waste of money is eating out. She never eats out and will never buy a cup of coffee.

Isn't this quite shocking, even for a financial guru?

Her choice.

But she isn't wrong. You can spend $.50 to make a great cup of coffee at home or pay $7 to get the same thing made for you. That's almost $200 savings per month per person.

I can shop at Whole Foods and make an extremely nice dinner for 4 for $30 (and a basic M-F dinner for $15 for 4). That same dinner in a restaurant would be $250 plus 20% tip.
Nice bottle of wine for $40-50 at home, same bottle would be $120-150 in restaurant.

Many rich people are surprisingly frugal. They don't just waste money because they have it.
They actively make decisions of what to spend their money on.

[Anonymous]

Anonymous wrote:That might be click bait overstatement, but she had a point. Eating out is a waste of money, but not the biggest.

You need to eat. How is it a waste of money to eat food made by someone else sometimes? You're obviously paying for more than just the ingredients.

Or, I guess, to put it differently - what beyond the barest essentials isn't a waste of money, in that case? Only things that you can sell if you need the money?

[Anonymous]

In the same article she says her splurge is “private air travel.” I can eat out 1,000 times and still save more than she spends on one private air trip. On top of that, what exactly is she doing for food on all those trips with private air travel? Oh, right, eating out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Suze Orman, with a net worth over $75 million, says the biggest waste of money is eating out. She never eats out and will never buy a cup of coffee.

Isn't this quite shocking, even for a financial guru?

Her choice.

But she isn't wrong. You can spend $.50 to make a great cup of coffee at home or pay $7 to get the same thing made for you. That's almost $200 savings per month per person.

I can shop at Whole Foods and make an extremely nice dinner for 4 for $30 (and a basic M-F dinner for $15 for 4). That same dinner in a restaurant would be $250 plus 20% tip.
Nice bottle of wine for $40-50 at home, same bottle would be $120-150 in restaurant.

Many rich people are surprisingly frugal. They don't just waste money because they have it.
They actively make decisions of what to spend their money on.

If you're rich and can't enjoy some food and wine at a restaurant, I don't even know what the point of being rich is. Just be poor in that case.

[Anonymous]

Anonymous wrote:She knows these type of extreme statements get her attention, air time, relevance, clicks, book sales, product sales. She’s interested in her wallet, not yours.

Use your brain, look at your financial picture, and enjoy your life on your terms.

Correct.

[Anonymous]

Maybe she’s one of those people who doesn’t enjoy food—more of an “eat to live” person.