Is Starbucks making you broke?

Have you heard the debate that getting Starbucks everyday is killing your finances? I once worked in an office where Starbucks was in the lobby, it was no big deal... until the fall came and so did the Pumpkin Spice Latte. I had received a gift card to Starbucks and treated myself to a few until my card ran out. But then I kept getting them. Not only did I spend way too much on Starbucks in October that year but I also gained 5lbs from all the sugar. This year I told myself I would not get Starbucks, and the only time I have is when we were on a road trip to/from Florida and I needed coffee on the drive. 

I often debate with my peers about getting coffee everyday or even grabbing lunch out. My stance is it is a waste of money and your money can be working harder someplace else. In the last 3 years, I have paid to eat out lunch less than 10 times. My brain also works differently than most because when I eat out, I think about how much that meal would have cost me to make at home and then I feel guilty about it. But the question is, are these things causing you to be broke? Of course, it depends.

If you cannot pay off your credit cards each month, have trouble finding money to pay other bills or even groceries, then yes, these small purchases each day are adding up and making you broke. You should stop. But, if you are in a financially good place, have extra money each month even after your various savings, then you can enjoy the luxuries of coffee purchases and lunches out if that is what you choose. Everyone is in different places in their financial life and you need to take a close look at where you are and what you can truly afford. 

Above is an example of how much money you would spend if you went to Starbucks and lunch out 5 days a week every week for a year. Now you would have to then see how much your lunches cost to make each week and how much your at home coffee is. I have posted various lunch prep posts on my blog and I would say I usually don't spend more than $600 a year on lunches. My coffee situation is a bit different because I am a coffee snob. I spend roughly $500 a year on coffee since I have a Nespresso machine. I have had this machine for well over 8 years and I don't think I will ever not have one. I love it so much that I bring it with me on vacations.

Take a look at where your money is going and see if small purchases are making you broke. To recap, if are struggling to pay your bills but are still enjoying meals  and coffee out, then you should pull back on your spending. Find out where in your spending habits that you are breaking the bank and break that habit. American overspending is out of control and we all need to see where we are in our own lives and adjust.

What is breaking your bank? Do you need help figuring out a budget? I have helped so many people see where they are going wrong when they cannot see it themselves. Be sure to subscribe, share, comment and like this post.