Reply to Does anyone actually get Starbucks every day?

Forum Index » Money and Finances

Reply to "Does anyone actually get Starbucks every day?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]"You can't latte yourself to bankruptcy. The bladder won't stand for it" - Katie Porter in Helaine Olen's [i]Pound Foolish[/i]

I'm generally a pretty frugal person and avoid unnecessary expenses, including Starbucks. But I can't be too judgmental on those who choose to indulge. If your morning latte is the thing that gets you through the day, or one of the few things you reliably enjoy and look forward to, I don't think it's nearly as destructive as some people imply.

Let's say you spend $5 at Starbucks every day of the year. [b]That's $5x365, or about $1,800 per year, or about $1,300[/b] if you only go on weekdays. I don't want to imply that's a trivial amount of money. But it's not going to make or break your household finances. It's the big lifestyle decisions - car, houses, vacations, schools - that determine your big picture finances. Latte's aren't quite small enough to be dismissed as a rounding error, but they're definitely at the margins of your financial health.[/quote]

It kills me to see my millennial staff do this.  They are in their mid-20s and that $1300 put into an IRA would be worth so much in 10, 20, 30 years!

I was talked into EE savings bonds in my 20s for $50 a pay period or $25 a week.  15 years later I cashed them in and was able to buy a house because I had the down payment.  A small amount of money saved routinely and dollar-cost-average invested over time with compounding is like magic. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics