I am NOT going to cut back on my cup of coffee
Many personal-finance sites and authors talk about the need to cut your day-to-day expenses so that you can boost your savings. Good simple advice, but some who propose concepts like the obligatory measure of eliminating your daily cup (or two or three) of coffee and investing what you would have spent on it - are going too far. Yes, if you save $3 a day, for $720 a year, you will have some number like $10,000 in 20 years saved. A lot of money no doubt. However, in life you got to live a bit, for which you need to spend a bit. In my view, life's daily little pleasures like my morning cup of coffee have an intangible value to me which far exceed the $3 or so I spend on it. Maybe it's the caffeine or the simple experience of taking the time out to get the coffee and the 5-10 minutes to catch up with fellow workers, but I have found the returns of that daily cup of coffee to far exceed what I spend on it....
Saving where you can is great, but remember to ensure you don't deprive your life of the simple little pleasures along the way. I rather be happy and well-off, as opposed to a miserable millionaire!
April 16, 2008 9:59 AM
I agree;
I must much rather save by cutting down on high def cable or eating out less.
Besides there are better ways to eliminate the cost of coffee without actually eliminating the coffee itself (Example: Convince your boss/office to provide a coffee pot in the break room, and have the office pay for quality - state that it adds value to the quality of the work place for very little investment).
April 17, 2008 9:09 PM
Bravo. Somebody gets it. We could all be earning a lot more than what we'd save with a daily cappuccino by giving out sexual favors in the parking lot after work, but at some level there's a basic dignity in having a standard of living.
Some people would have you drink your sawdust, stale coffee strained through a web sock every day so you can spend your $20,000 on what? An extra bathroom on a house you couldn't afford to begin with and now are facing foreclosure on?
Genius, these people.
April 18, 2008 6:56 PM
@ Swag thanks for your comments. I like your profile page. I believe you are not the least bit italian!
Cheers,
Andy.
April 18, 2008 6:57 PM
@ anonymous, agree with your comments. Our company is cost cutting so the coffee machine and any other expense is on hold. But your point is spot on and a good way to think outside the box.
April 19, 2008 4:38 PM
As in just about everything in life, it's really all about balance. It's fine to have your coffee every day - even a $3 Starbucks every day if it makes you happy. But balance that out by cutting back in other areas of your life - going to a movie once a month instead of every week, for example.
April 19, 2008 5:27 PM
@ cfo. Thanks for your comment. I agree it is about balance. The coffee was both an acutal and literal metaphor. You need balance in everything and to reward your self when you reach a goal. I do agree you can choose where/how you splurge but to make sure you don't go beyond your means and jepoardize your future.
April 21, 2008 10:37 AM
Amen, brother. Major on the major, minor on the minor.
I recently wrote a post "Your Problem Isn't Starbucks" that you might enjoy.
http://totalcandor.com/blog/?p=157
April 21, 2008 12:39 PM
I agree with you, unless you're making compulsive small purchases on a large scale, saving an extra $3.00 a day on an item you get a personal benefit from doesn't make much sense.
Cutting back is a good habit, but it's easier to start with larger unnecessary expenses, like 900 channels you never watch (can you get by with 670?) for example.
Moderation in financial decisions and spending is a better idea than demonizing small purchases that are not out of control.
April 23, 2008 4:08 PM
Agreed 100%. Coffee is one of the best cheap networking tools that us 9 to 5ers have. There are many other areas to cut back on to have a long term effect on saving/investing.
April 23, 2008 5:09 PM
@ bp2p - Thanks for the comment and I checked your post. Very interesting and reflects my sentiments in this post perfectly.
@ Nick. Spot on. Life is about moderation and having some fun along the way
@ Thats right. You find out the real office politics and happenings over a coffee. Very underated networking mechanism.
Great to discover all your blogs/sites as well. Hope you stop by here again in the future.
May 13, 2008 2:12 AM
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