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it de-penge

For those who won't accept "it depends" as an answer

Do I Have To Cut My Coffee?

Updated: Nov 8, 2018

Ever heard someone say "You could save so much more if you quit buying coffee!"? Don't worry. I'll never tell you that.

Whenever I'm feeling overwhelmed with money, I feel instant guilt.

Why? Because when I'm feeling overwhelmed, I sometimes go to grab my favorite drink from Starbucks, Dunkin, or Chocolate Holler. And I sit there and think... Dammit. I've done it now. I'm trying to figure out how to afford retirement, and I just bought this $5 coffee. I just set my retirement back another 20 years.

And then I remember that sometimes I can be a bit dramatic.

Here's the thing. In most situations, a $5 coffee isn't going to really hurt my financial situation. And honestly, sure, if I'm getting them every day that can definitely add up to be a good chunk of change.

Sure, if I get a coffee every day on my way to work then I'll spend $100/mo. And that's money that it would be great to spend in a lot of other things, like investing or saving. But it's not bad to spend it on coffee if that's what I want to do, and I'm here to let you know that's okay if you do it too.

I hereby release you from your coffee spending guilt.

Here's why.

There's a lot of expenses you can cut, besides coffee.

$100 isn't a small chunk of change... I get that. But let's be honest... most of us aren't spending quite that much on our caffeine addiction. And even if we are, I'm more interested in finding ways that I can cut larger chunks of change. Like when I switched my car insurance and saved 50% a month. Or when I got rid of cable and didn't even miss it. Or when I decided to take a pause on my international travels for a while. Or going a whole month without eating out.

The point is, there's a million ways that you can cut back your spending, and it drives me nuts when people act like our lattes are the only way to do it.

Which leads me to my next point....

Don't try to cut everything, or you'll end up cutting nothing.

I've been there and done that, and it doesn't last long. If you penny pinch too much, you're going to just constantly hate your life. What good is a new house or being able to retire if you've gone crazy from a lack of caffeine before you get there??

I'm not advocating you go around and treat every day like it's "Treat Yo Self" day, but at the same time if you don't give yourself some area to splurge then you'll go crazy and eventually burst into a spending sprenzy that's much worse than a $5 coffee.

So here's your permission to say that you read somewhere on a personal finance blog that it's okay to spend your money on coffee.