Author Topic: was surprised to see this on our local news  (Read 2818 times)

KodeBlue

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was surprised to see this on our local news
« on: July 18, 2018, 02:51:22 PM »
a change from the segments about how you can spend on expensive BS:
http://www.nbc12.com/story/38613434/whats-the-better-financial-investment-coffee-or-your-future

gpyros85

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Re: was surprised to see this on our local news
« Reply #1 on: July 18, 2018, 03:32:15 PM »
a change from the segments about how you can spend on expensive BS:
http://www.nbc12.com/story/38613434/whats-the-better-financial-investment-coffee-or-your-future


The morning coffee is where the mainstream media loves to aim the potential savings cuts at.. rarely ever will you see this being done for the new F150 in everybody driveway. Which would be way more than $1,040/year.

StockBeard

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Re: was surprised to see this on our local news
« Reply #2 on: July 18, 2018, 09:53:50 PM »
The morning coffee is where the mainstream media loves to aim the potential savings cuts at.. rarely ever will you see this being done for the new F150 in everybody driveway. Which would be way more than $1,040/year.

But as they say in the article: "The problem isn't the coffee, really - it's buying things without thinking about how those purchases add up, or what else you could be using that money for."

It's not the coffee alone. It's more the mindset of not realizing what that coffee really costs in the long term. In my experience, my friends/coworkers who "don't mind" spending money on coffee daily are the same who don't look at the price of anything, and are wasting tons of money. "I can afford a bit of convenience" quickly turns you into that guy who never turns the A/C off when they leave the house, have 5 gym memberships, an insane cable bill for channels they never watch, etc...

slugline

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Re: was surprised to see this on our local news
« Reply #3 on: July 19, 2018, 03:38:35 PM »
Yeah, coffee is not the culprit -- it's mindless spending of all types combined with hedonic adaptation.

Just Joe

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Re: was surprised to see this on our local news
« Reply #4 on: July 20, 2018, 08:56:55 AM »
Its not coffee, its all the things combined that people are spending on. Too much house, too much SUV, too much eating out, too much subscription services, etc.

Singular causes and solutions are never realistic. Same with blaming the CEO or the President for everything that goes right or wrong. There is a team of people supporting that person. 

cats

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Re: was surprised to see this on our local news
« Reply #5 on: July 20, 2018, 09:09:39 AM »
a change from the segments about how you can spend on expensive BS:
http://www.nbc12.com/story/38613434/whats-the-better-financial-investment-coffee-or-your-future


The morning coffee is where the mainstream media loves to aim the potential savings cuts at.. rarely ever will you see this being done for the new F150 in everybody driveway. Which would be way more than $1,040/year.

I think stuff like coffee is a popular target because it's something people can take action on RIGHTNOW.  Same with people getting obsessed over cutting their grocery budgets--immediate results and very easy to dial up or down on short notice.  Downsizing your car--well, you have to find a replacement and sell the current one, which takes more work in the short-term (though less work in the long-term, as you don't have to resist buying a bigger car every day the same way you have to resist walking into the coffee shop).  Same with things like downsizing your home...there's a big short-term effort that is discouraging to people, even though longer term you will reap bigger dividends and won't have to work hard to keep spending down the way you will with all the small consumer purchases.

DreamFIRE

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Re: was surprised to see this on our local news
« Reply #6 on: July 22, 2018, 09:53:46 AM »
The morning coffee is where the mainstream media loves to aim the potential savings cuts at..

Ha.  Yeah, whenever I see an article on saving money, I always look to see if that "morning latte" or such is mentioned as a big money saver and how much it adds up to in non-inflation-adjusted dollars and an excellent return in 30 years.  And they usually say each coffee is $3 to $5 or such.  For about 14 years, I got my coffee for 20 cents a cup at work until it was raised to just over $1, at which point, I took in my own coffee maker.

Edit: Almost forgot to read this article - but I just did, and it's just as expected.
« Last Edit: July 22, 2018, 09:58:04 AM by DreamFIRE »