Skip the Coffee? What’s Money for, Anyway?:
My crime: buying morning coffee from Starbucks for my wife and me.
Avoiding the regular cup of overpriced coffee has become an easy cliché for financial advisers, a symbol of money frittered away.
The author is right. There is nothing wrong with spending some of your money on the luxuries you choose. The problem is too many people spend more than all their money on the luxuries they choose (going into debt to support their lifestyle). The author states:
In previous post: saving for retirement, we discuss the options for planning for your future economic security. Cutting back on luxuries is only necessary if you are living beyond your means (looking at your whole financial life). If you have incorporated the luxuries you want into a good overall plan, great, good job, keep up the good work. If not, figure our which luxuries you want to cut (or how you are going to earn more money).
Leave a Reply to Earning More Money at Personal Finance Blog Cancel reply