If you waste money on coffee, it’s like 'peeing $1 million down the drain,' says Suze Orman. ☕️ via CNBCMakeIt
div > div.group > p:first-child"> Suze Orman, financial expert and best-selling author of "Women and Money," doesn't think so."I wouldn't buy a cup of coffee anywhere, ever — and I can afford it — because I would not insult myself by wasting money that way," she tells CNBC Make It.
"You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee," Orman says."Do you really want to do that? No." Why spend money on coffee when you can make it at home for much cheaper? Orman argues."If you just simply used your money to purchase needs versus wants, you would find the money to invest in your retirement accounts," she says."You would find the money to get yourself out of credit card debt.
Instead, O'Leary makes his java at home and invests the money he saves. Like Orman, O'Leary chooses to prioritize other financial goals over a $3 cup of coffee. Some experts take a different stance. Ramit Sethi, bestselling author of "I Will Teach You To Be Rich," has no problem with splurging on the occasional latte — as long as you're taking care of other priorities, including paying your bills and saving for the future.
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