Posted on 07/18/2019 2:36:52 PM PDT by Red Badger
Suze Orman wants young people to stop “peeing” away millions of dollars on coffee. Last month, the personal-finance celebrity ignited a controversy on social media when a video she starred in for CNBC targeted a familiar villain: kids these days and their silly $5 lattes. Because brewing coffee at home is less expensive, Orman argued, purchasing it elsewhere is tantamount to flushing money away, which makes it a worthy symbol of Millennials’ squandered resources.
Orman’s not alone in this view. The old guard of personal finance has spent years turning the habit of buying coffee into a shorthand for Americans’ profligacy, especially that of young Americans. Dave Ramsey, a finance personality who hosts a popular radio show on getting out of debt, says that forgoing lattes is one of four keys to saving thousands of dollars. Kevin O’Leary, one of the investors on the entrepreneurial reality show Shark Tank, once told CNBC, “I never buy a frape-latte-blah-blah-blah-woof-woof-woof.” Even the official Twitter account for Chase Bank has gotten in on the fun, intimating via meme that a failure to brew at home is why young people don’t have any money.
In the face of coffee shaming, young people usually point to things like student loans and housing prices as the true source of the generation’s instability, not their $100-a-month cold-brew habits. Nonetheless, coffee endures as a personal-finance flash point because it provides such a tidy intersection of generational tensions. A cup of coffee embodies changes in everything from how younger Americans eat to where they live and how they approach their finances. For young people who buy one each morning, the walk up to the barista can be a shame-tinged tug of war.
(Excerpt) Read more at theatlantic.com ...
> DO WHAT YOU WANT WITH YOUR OWN CASH.
If they would refrain from making up the difference out of your pocket and mine via government fiat, that’d be OK.
of course they can do whatever they want with their money. The POINT is to point out something they may not of been aware of. ie. How LITTLE money it takes to become a millionaire.
Could say the same thing about alcohol, too.
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A valid point for sure. Restaurant prices for booze (i.e33., the markup) are ridiculous. We eat at home and grill when weather permits, which allows us to drink good stuff at a fraction of restaurant prices. And we don’t have to tip anyone for lousy service.
$5 beer at a ballgame .....
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Where would that be? It would be a bargain.
If I make my coffee at home, I lose more than $50 in billable time. If I stop at McDonald's on my way to work it costs me $1.07.
ML/NJ
They don’t hate coffee. They hate people who aren’t wealthy wasting 6-7 dollars at a time on an overpriced foo foo coffee.
It’s amazing how fast those add up.
“Great, another reason for me to have another cup of Joe. Suck it, Suzy. My coffee ain’t your damn business.”
If you want to waste your money at Starbucks, feel free to.
Of course their are plenty of people qho piss away at least that much on beer or cigarettes … whatever floats your boat I guess.
DO WHAT YOU WANT WITH YOUR OWN CASH.
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If you earned it, yes you have the right to spend it however you want to. But you also have a responsibility to pay yourself first (i.e., save and invest for the future) so that you won’t come up short after you quit working.
Being house bound in your golden years is not a very appealing thought. All those expensive toys and trinkets won’t matter then.
“One persons silly $5 latte is another persons silly $5 pack of smokes is another persons silly $5 lottery ticket is another persons silly $5 beer at a ballgame .....
And so on.
Spend (waste) your money on what you want.”
I love seeing patients in the ER who whine they can’t afford their medicine or don’t have money for a dentist, but can afford, cigs, alcohol, drugs and tats while texting on their iPhone X....
I never paid attention to their politics. Their coffee is good and pretty readily available.
The idea of $5 for a coffee of any stripe is obscene
Shame me all you want, I can easily afford my daily two cups of 8 O’Clock or Chock Full O’ Nuts.
I never drink coffee out ... make a pot at home every morning and if in a rush, put it in a thermos. Not only is it less expensive, it’s a whole lot better testing (to my taste)
AND, while her advise is good, it is foolish to pee away $4-5/day ... it’s their money and their future. My daughter went to school with kids who stopped for the Starbux every morning before class, and she couldn’t handle the squandered $$$ but also realized it wasn’t HER $$$.
I used to use refillable K-cups at work. The guy I work for uses Keurigs and there’s a perfectly good second cup of coffee in one of those that he doesn’t want. Just shake it around, tap it to redistribute grounds.
And, he’s switched to my favorite variety.
Cheap win.
So you bill your clients or boss $50 just to drive to work?
Nice.
Recreational cannabis. Other legal recreational substances.
“Digital ego crutches”
As Wolfgang the German soldier would say, “Verrrrry interesting!”
I avoid them: iPhone, GPS, tablets, social media, cars smarter than me, smart TV’s, etc.
Never been in a Starbucks, not once. Good strong coffee is too easy to make at home.
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