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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=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?[/quote]

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.

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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.[/quote]

I think in her case, she's pointing out that those two things are places people "waste" money.  And it is wasting money if you are not financially secure.  
So sure, if you are rich go for it if that's what you want to do.

We are rich, and I still make coffee at home 99% of the time.  I don't want to get dressed and walk/drive to get my coffee most days.  I want to wake up, lounge around in PJs and make my coffee and enjoy it.  I also realize I can make better coffee than 95% of the coffee shops (we order high quality coffee online that is roasted the day we order it, then we grind it ourselves as we use--we invested in a quality machine and grinder years ago that has long ago paid off), so sure I could afford to spend $400/month for us to drink coffee, but I'd rather put that towards dining out or flying first class or several bottles of wine or many other things that bring me pleasure.  Basically, it seems like a waste of money to me to buy coffee from a coffee shop, so I only do it once in awhile. 
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