Skipping your daily $5 coffee won't make you rich. The math works on paper, but people don't stick with it, and the amount is too small anyway. Focus instead on saving 15% of your income automatically and tackling the big decisions that actually build wealth.
A lot of people think that the way to get rich is to save money on coffee, then suddenly you'll be wealthy after 75 years. First of all, if you enjoy your morning coffee, these are tiny, tiny expenses. If you add them all up, even invest the money, it doesn't turn out to be that much. But more practically, people are not going to stop drinking coffee and then take that $5 every day and invest it. That's just not how people work. So it's this mathematical argument that simply does not hold up to human nature. Doesn't work with habits. Yeah, yeah. I would rather people say, okay, What do I enjoy about my coffee? What kind of coffee beans do I love? Am I going to the coffee shop for the experience? Whatever. Okay, if you want to do it, great. But I'm also going to automatically invest 15% of gross income, and I'm going to automatically save. Focus on the $30,000 questions and not the $3 questions.
