""For you to have money, you have to learn to live below your means but within your needs. How do you do that? You do that by simply purchasing needs versus wants. What is a need? Need is food that you buy at a grocery store. What is a want? A want is going out to eat at a restaurant and doing it over and over again.""
"Going out to eat contributes to massive credit card debt, too, which can weigh on you in retirement. Most people don't realize how much money they spend by heading to the drive-through or going out to a fancy restaurant once in a while. Some of us, including me, stop by Dunkin every morning and spend about $20 on coffee and a hot bagel, which comes out to about $600 a month."
Suze Orman embraces frugality despite significant wealth. She avoids dining out, categorizing restaurant meals as wants rather than needs, and promotes living below one’s means while meeting necessities. She defines needs as grocery-bought food and warns that repeated restaurant visits and small daily purchases fuel credit-card debt that can burden retirement. Routine expenditures such as daily coffee and a bagel can accumulate to roughly $600 monthly. Orman keeps accessory spending minimal, wearing the same necklace since 1994 and using a single purse from 1993. She connects honoring money with preserving savings and financial stability.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]