Asked by Anonymous
Asked on 31 Oct 2018
Before you ask him to stop. Please ask yourself the following questions;
Is this his only pleasure / vice?
Do you have any pleasure / vice that he thinks is a waste of money?
If the answer if yes for no. 1, if you can afford it, just let it be, at most negiotiate a monthly limit.
If the answer is yes for no. 2, you can do a swap; "I give up this if you give up this."
If it is about coffee... I spent quite frequently for Starbucks coffee until my wife bought me a compact semi-auto Delonghi expresso maker, just little over $400. I use it to make my own coffee every morning, just within 5 minutes, even it is latte. Then, I spent about $5 for 2 liters of fresh milk fortnightly. Whenever I go travel, I buy many, really plenty of ground coffee to stock up. I have reduced significantly spending at Starbucks since then.
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01 Nov 2018
Perhaps cutting down his spending on Starbucks is a good way to start. Come up with a monthly budget for spending on Starbucks. Reload XX amount to his starbucks card and once finished, he will no longer be allowed to drink Starbucks until the following month. You can try lowering the budget as time goes by. Alternativey, try to explore cheaper options.
My personal take on this is that if it is one of the few indulgences he spends on, and still tracks well on your joint financial goals, it might make sense for him to enjoy it. Also consider why he is buying Starbucks.
Is Starbucks more about the status symbol than the coffee?
It might not just be about the caffeine fix. It could be about the daily ritual of trudging up to Starbucks before work starts, and just being in that environment helps him start of his day better.
Otherwise, perhaps you could introduce him to enjoying kopi from the kopitiam!
To provide perspective, I am not a fan of buying Starbucks, or any drink priced above $2.50. But that said, I recognise that everyone buys Starbucks for different reasons!
Buy him a tumbler and make him coffee every morning or
Buy Nespresso machine and a tumbler
Learn how to make that specific Starbucks coffee he likes. I learnt on how to cook my boyfriend's favourite dishes and made up mine too. I personally chef when he craves for it.
Well, if you can't stop the habit, find a way to fund this. Perhaps look into investing in SBUX itself, either through direct stock purchase, or sell put options on it. Both ways will get some income which can be used to fund the morning coffee. Or as an alternative at the other end of the spectrum, borrow this book called The Automatic Millionaire by David Bach where he talks about a 'latte factor'. Sit down with your husband and go through the figures and show how much he'd have saved if the amount he spends on sbux is saved or invested instead. All the best
Assume 5 / day. 30 days is 150 dollars.
12 months is 1800.
2 years can buy 1 lot starhub.
1 year can buy new customizated computer rig.
2 year can buy IMG recliner.
4 year can go UniWorld luxury river cruise.
Name your poison.
Or spend 150 per month on something he disagree with and say it's equal to your daily drink.