Living paycheck to paycheck could mean a lot of things. Each one of us has different things going on in our lives which may cause us to scrape by every other week, but according to businessman and Shark Tank TV star Kevin O’Leary, it’s most likely because you’re making “stupid” decisions.
Most Americans live paycheck to paycheck. https://t.co/IcmHR5CJDJ
— CNBC (@CNBC) January 27, 2019
For starters, O’Leary believes young people throw their money away on overpriced coffee.
“$4 coffee. Incredibly stupid. Look, I know I’m going to get hate mail from all the coffee brands, but coffee costs 18 cents to make yourself. Until you have savings and have paid off your college debt, do not buy a $4 coffee, I forbid you.”
O’Leary also feels that people could save up to 10% of their salaries just by cutting that expensive cup of Joe and keeping their wardrobe down to no more than four pairs of shoes and three pairs of jeans.
Coffee, shoes, and jeans. Those are the three things O’Leary believes are stupid decisions until you can really afford it.
Do you have a Starbucks or other coffee shop addiction? Can you find ways to save based on your current spending?
LISTEN TO KEV, WEEKDAYS 12 – 4 PM.