Eliminate unwanted spending - 2025-03-18

Today's news sparked a fiery debate: an 83-year-old Australian millionaire, sitting on a cool $40 million, advises young people to ditch their daily luxuries to combat the cost-of-living crunch. His prime target? The humble coffee.

Let's break down the numbers:

  • The Café Crusader: A daily $5 coffee and $17 avocado toast habit sets you back a staggering $8,030 annually.
  • The Coffee Connoisseur: Even a simple $5 daily coffee adds up to $1,825 per year.

While I agree with the sentiment – cutting unnecessary spending is crucial – I vehemently disagree with eliminating coffee altogether. It's not about deprivation, it's about smart substitutions!

From Café to Kitchen: A Cost-Effective Caffeine Fix

My ex boss - he'd brew his own coffee at home using a capsule machine (let's say a Nescafe capsule at $0.80 a pop) and carry it in a thermal mug. Genius!

My Personal Brew: A Healthier, Cheaper Alternative

My weapon of choice? Homemade milk tea with brown sugar. Why? Because I crave a comforting beverage on the go, and I'm wary of the mystery ingredients in commercially prepared milk tea. In Singapore, the exact composition is often shrouded in secrecy, and I'm particularly concerned about hidden white sugar and unhealthy creamers.

I've even seen Malaysian coffee preparation methods that involve cooking coffee beans with sugar and butter. While butter is acceptable, I suspect many use margarine, a big no-no for me.

For ready to drink milk or coffee, I normally check the label before I buy. If I have choice, I will skip the one have hydrogenate palm oil, which equivalent to creamer.

The Bottom Line: Smart Substitutions, Not Sacrifice

Instead of blindly cutting out pleasures, let's analyze our spending and find healthier, homemade alternatives. This approach not only saves money but also empowers us to take control of our well-being. Imagine redirecting those savings into investments that build a secure future. It's not about giving up, it's about upgrading our financial and health habits.

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