Behavioral New World March 1, 2024Behavioral New World is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Lattés and lotteries In case you’ve missed it, the Great Latté Debate is raging in the personal finance space. The question is, Does buying a daily latté fiercely damage your financial health or is it largely irrelevant?
John, in just a few of your wise words you thoughtfully described trade-offs. The least favorite bit of financial advice I saw this past month was from the other side of a workout room. The Today Show was promoting the no spend challenge. I guess if I took this advice and Ramsey's advice, I could save a few hundred dollars every month by not working out and save it for "retirement." But then I would live a shorter life....Hmmm.
Really enjoyed this read John. I think the quesion of saving (a good idea) vs. spending within reason to enjoy life in the moment is an interesting one to navigate. I'm no fan of spending beyond one's means or not saving, but equally, who knows how long life might last? Better to enjoy small things in the day while you can? Perhaps the question of the latté or not is more of an existential one?!
John, in just a few of your wise words you thoughtfully described trade-offs. The least favorite bit of financial advice I saw this past month was from the other side of a workout room. The Today Show was promoting the no spend challenge. I guess if I took this advice and Ramsey's advice, I could save a few hundred dollars every month by not working out and save it for "retirement." But then I would live a shorter life....Hmmm.
Really enjoyed this read John. I think the quesion of saving (a good idea) vs. spending within reason to enjoy life in the moment is an interesting one to navigate. I'm no fan of spending beyond one's means or not saving, but equally, who knows how long life might last? Better to enjoy small things in the day while you can? Perhaps the question of the latté or not is more of an existential one?!