Save A cup of coffee...

Well I read your post again. At first read it seemed snobby, critical and superior. On second reading I can see that I may have missed your underlying message. I think your point was more to not deprive yourself of something you enjoy just because of money. I can that's not the path to happiness. I can't say I quit coffee just to save money. There is a lot more to my decision than that. Ultimately, I quit to be happier, and I am. Same with alcohol. I am a lot happier going out and not drinking. Money is secondary in these considerations.

 

Albanga, I was with you when you were talking about coffee. And not because I love coffee, but because it's obvious that you've considered the cost and the value and made a conscious decision that what you get from that cost is worth it. Most people don't give it a second thought when they hand money over for something, and more often than not I'd argue they really don't get much value from whatever it is.

In my opinion, the important thing is being aware of what you are spending your money on and making it a conscious decision based on what value you gain from it.

Where you lost me was in your tv and eating out examples. In the first instance you say a bigger tv would make someone happy but then pinpoint the actual source of happiness - hanging out with mates watching a game. You can get that from a smaller tv, or even at a pub. The big tv hasn't added any value that a person wouldn't have had available already.

Similar with the eating out example. You say in your case the value comes from spending time with your wife. You've just attached the 'eating out' to that. It could just as easily have been taking a walk through the park.

I'm not dismissing your examples, because everyone will find value in different things and in different ways. But I think a lot of the time people use your line of thinking to justify any kind of spending, when I'd suggest it might not actually add anything to their life that they didn't already have.

 

It's not about money for me. It's about whether spending that money will bring me any happiness and alcohol brings me none. If you get enjoyment out of drinking then it's money well spent!

 

I agree. I can't remember a time I was really happy that cost a lot. I have eaten out with my family and friends and I find it a bit stressful really. I would be much happier with a simple picnic at the park because the kids can run around and have fun and the parents are a lot more relaxed. It's not about the money. It's about creating an atmosphere where people can relax and enjoy themselves. For me, that's the local park, not a fancy restaurant.

 

Totally agree this one isn't about money for either of us.

 

It's exactly about valuing yourself enough to have the things that make you happy and putting money as a secondary consideration - that's Al's message for this thread.

Good job on quitting the things that were not working for you PG.,

I don't do alcohol (maybe a sip of something per year at a Christmas party), I also limit refined food where possible, but my weakness is chocolate and coffee.

Those haighs chocolate frogs omgeee.

 

Oh yes! When it comes to good chocolate, it's definitely not about money.

 

I think this thread is going to take a big turn if our coffee shops move towards the Amsterdam Model.

Early sales meetings are going to be a lot more sedate, and amicable....

And there will be a lot more bacon and egg rolls, party packs of Twistees, and $5 pizzas sold.

 

Id rather be poor and drink great coffee than rich and drink international roast

If you cant enjoy the small things in life, then why go on

 

Not all rich people have taste. Not all poor people have rich tastes.

 

I started out with zero. Was able to afford a coffee once a day and it wa ms a real treat. And once a week on weekends I splashed out and got a coffee with a pancake. I scrimped and saved to get into my first property investment and never have lost touch with the value of money. Today's youngsters could benefit from doing the same.

 

A decent coffee at a cafe these days is what; $4?
I dont think people need to sacrifice everything in lifestyle for the sake of saving for a property...just look at ways to do it cheaper and smarter. For example; with coffee, we buy good quality ground coffee and have it in a bodem at home..cost per cup would be approx 50c when milk and sugar, water and power are considered. Sometimes it is on special so the costs drops even further. I have one as a traveller on the way to work. At work I have the work staff coffee - latte pods in a machine....really nice. I only have one more for the day.
A young person on a lower wage could do the same, and even buy their own elcheapo pod machine for work themselves, use the pods and over a period of a couple of years the cost of the work coffee (as well as the home coffee) would plummet. No sacrifice to lifestyle, but the deposit increases much faster.

 

Alcohol is a tough one! At the time it brings me happiness but the next day and depending on how how much I drank the following few more it brings me no joy.

I know the answer for me needs to be enjoy a drink but learn when to call it.

 

I totally hear where you are coming from but they were just examples and I didn't elaborate but just bring it back to the message and meaning of the post.

Yep a small TV in essence can do the same as a big one but that's not the point. The person buying the TV might like having a big 85" wall mounted monster and it makes them happy, they may have a lot of pride in the fact everytime someone walks in and says "how awesome is that TV". When watching the game then maybe the boys and girls would be happy to watch it at the house because it's equivalent to watching it at the pub. Do that 5 times and you will pay for the upgrade.

Eating out and spending time with the wife same principle. If you like to eat at home or you like to take walks with your partner then awesome, you get that amazing time AND you save money.
My wife doesn't mind cooking but not every night, I'm a terrible cook so eating out together is something we enjoy, that has immense value to us that some people try to quantify with a pure dollar value.
STOP eating out and save yourself $100 a week.....yeah but how simplistic is that! What's the cost to me in other areas?

These are all just examples, you could drive a cheaper car, it does the same thing as an expensive one.
You could buy cheaper clothes and no brand names it does the same thing as expensive brand names.
You could....And so on.

If you can cut things out and still enjoy the same quality and happiness of life then that's great!
But just be sure to measure it more than just a dollar value

I prefer to cut things where possible that have no impact on my lifestyle. I called BUPA last week and said I'm paying too much. They looked around made some suggestions and I didn't like them as they would reduce my cover. They said how about for your loyalty I'll give you a months free..I pocketed $235. I still did my diligence and called a couple of providers and turns out my deal being a corporate was great.
That entire exercise took me 30 minutes.
It just paid for 67.14 coffees.
I'll do the same thing in 6 months.

I called my electric and gas provider and told them Sumo Energy had called me (they had) and I'm thinking of switching. They gave me am instant 2% discount of all my bills forever. That took me honestly 5 minutes.

Zero impact on lifestyle. No cutting out my coffees, just paying for the years worth in an hour or so of phone calls.

 

Terri Scheers advertise their policies as being "less than a dollar a day". I see it as a third of my annual coffee and other legal drugs budget.

 

I knew it was the coffee. Stop buying the bloody things!

Property tycoon reveals the real reason Gen Y can’t afford houses

 

haha I watched this last night and couldn't help but laugh when he said that, knowing the post I had just written.

 

... or maybe they read this thread and decided to make it a full blown story...

 

In the meantime today my team at work decided we'd go out for monthly lunches, and a monthly team coffee session on another day of the week so everybody can attend either or both.

 

For me it was a matter of necessity. I was a student, had almost zero income (in fact I had debt) and I literally had to use every cent I had on my education, rent etc. Then when earning, I made it my priority to clear debt and save/invest. But its not just about coffee, or smashed avocados - rather these items are all symbolic of the spending of today's youth - the very same ones who buy new model iphones, take overseas vacations, regularly update clothing to be fashionable, spend up big when going clubbing or dinner - its a mental mind-set that separates investors from spenders. I always got more pleasure putting money into stocks, than for example into a new shirt.

On coffee, personally I can't stand the pods - has to be high quality for me as I am a really fussy drinker. But the great thing is that even now, I can really appreciate a nice well made coffee.

Same with wine by the way. I fortunately (or unfortunately) have a very expensive palate, so my wine expenses are high, but my early sacrifices and focus on investing made it all worthwhile...