If there’s one thing that grinds our gears here at Lifehacker, it’s when personal finance gurus declare that the easiest way to spend less, save more, and rack up riches is by giving up coffee.
This article is brought to you by CUA, allowing you to securely message the CUA Personal Banker of your choice from anywhere, any time. Click for more.
“Why are you spending $5 a day on a latte when you could be investing that money?” they demand to know, instantly shaming every one of us who was enjoying a frothy latte up until that very moment.
It’s absolutely true that if you save the money you could spend on coffee shop treats, you’d have much more money to your name. But you’d have to drink a lot of coffee in order for that saved money to add up to enough money to live off in retirement.
Just how much? Let’s just say I’m pretty confident you’re not spending that much on coffee. We calculated how much you can actually save by cutting out pricey caffeinated beverages.