Posted on 02/25/2024 10:47:42 PM PST by RomanSoldier19
ave Ramsey has fervently preached financial advice to Americans for decades — but younger generations are now slamming the white-bearded radio host for offering counsel that doesn’t quite account for the current cost-of-living crisis.
One frothy example is Ramsey’s vociferous renunciation of the daily cuppa Joe. In a 2021 blog post, he claims your coffee habit could be costing you $766 a year, and suggests folks should put those funds toward paying their your student debt, their investments or even a plane ticket.
(Excerpt) Read more at msn.com ...
My wife makes a 12 cup pot of Maxwell House every day at about 40 cents/pot plus the cream/sugar/sugar substitute about another 20 cents.
Even if my numbers are 50% low it's still is no where close to a dollar a day for 12 cups of freshly brewed coffee.
I personally don't care what other people do with their own money as long as they are not being subsidized by me and my tax dollars.
You can always get a note from your doctor that says that you need a HOT TUB to treat your bad back/disk problem or something that would benefit from hydrotherapy treatment.
Just make sure you keep all your receipts and the doctors note recommending the treatment. In case you get audited.
Only max out your before tax accounts to the tune of the matching provision, if there is any. Put the rest in after tax accounts and leave them alone. Avoid rebalancing where you have to pay taxes on any gains until much later. Up and down the market will go, you probably aren't good enough to time it. Follow the advice of Bogle and Buffet.
Yep. I normally go for the Columbian or the House Blend (Costco-rebranded Starbucks), whichever's on sale. Tried the San Francisco Bay French Roast last trip - wheeeeee! Octane rating too high for me - back to Columbian.
Bought a OXO grinder and French press carafe from Amazon. The carafe fills up my 2 travel mugs, with a splash left over for that pre-sugar and whipping cream jolt.
—> because they are never truly yours...the govt taxes you when you take it out and when you have to take some out to pay property tax or other bills you income goes up and then you don’t qualify for anything like stimulus, or property tax relief....
100%
There are permanent tax breaks to use.
Why settle for deferring to ordinary income (highest taxed category of income) later??????
Most people never frame that thought.
Congratulations!🏆
—> And if that means forgoing employer matching....
Contribute just enough to capture the match, then invest the remaining amount outside
I've noticed that too. McDonald's and 7-Eleven used to be my go-to coffee stops. Haven't been to a 7-Eleven though since I retired.
Costco Executive Membership Visa is a VERY good option if you are able to use the Costco gas station regularly: 4% Visa cash back for gas (from anywhere), plus the savings on the price of gas at Costco, about $0.20/gal for me, pays for the Costco membership, with change back. 1-4% Visa cash back for purchases anywhere, plus 2% Executive Membership cash back for purchases at Costco.
And, as you stated, the account MUST BE PAID IN FULL EVERY MONTH for this to be effective.
They’re in for a whole world of hurt - now that Biden is paying off their student debt - they think he’s going to pay off their credit card bills as well (and he will if not stopped).
LOL, I see this coffee habit with the young in my own family - daily trips to Starbucks or another equally expensive coffee joints- including on the weekends.
I was given a Nespresso as a gift a few years ago - the pods are around $1/each if you subscribe, which is what I do - and the quality IMO, is far superior to Starbucks.
Too many people, spending too much money and using too much credit on too many things they don’t need. Vacations to Bora Bora , 100,000 dollar pickup trucks are an example. That’s my advice, free of charge.
If you are 55 plus, senior coffee at McDonald’s is $1
I get all my financial advice from “talk show hosts” /s
Dave Ramsey, a waste of air and space.
They are evil. Not stupid.
aMorePerfectUnion wrote: “Contribute just enough to capture the match, then invest the remaining amount outside.”
that works depending upon the details of the match and the details of the person investing.
our solution was this (plus a few accessories):
https://www.breville.com/us/en/products/espresso/bes878.html?sku=BES878BSS1BUS1
espresso beans from Boyers at Sam’s Club warehouse ...
as many instant lattes as desired whenever desired and no travel or delivery costs
paid for itself in two months ...
(btw, the price of this machine varies quite a lot ... for some reason, breville puts this machine on sale right before christmas ... i think we paid $600 for this one a couple of years ago)
I don’t blame them. There is zero guarantee that the government isn’t going to swoop in and raid everyone’s savings accounts and/or retirement accounts. In fact every day that passes this becomes more and more likely. Best bet is real estate. They actually have to have real people come out to seize that and not just press a button.
That's the ONLY reason to do it...it's free money on the matching.
How about “If you are unwilling to pay your employees sufficiently, you don’t buy another yacht?”
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