Youāve heard it for years: stop buying the $5 coffee, invest the money, and youāll retire a millionaire. Apparently, your latte has been sabotaging your entire financial future.
In Episode 1 of Have You Tried Being Rich?, Kristin Geosits and Dria Benjamin take on the āLatte Factor,ā one of personal financeās favorite pieces of advice. Where did it come from? Does the math actually hold up? And is cutting small daily expenses really the key to building wealth?
The answer is a little more complicated than āstop buying coffee.ā
Yes, small savings add up. Paying attention to your spending matters. But thereās a big difference between building better financial habits and pretending a $5 purchase is the reason buying a house, paying off debt, or getting ahead feels impossible.
Kristin and Dria break down what the Latte Factor gets right, where it falls apart, and the bigger financial levers that deserve more attention, including income, housing costs, debt, saving, and investing.
So, should you skip the coffee? Maybe. Will it make you rich? Thatās where the BS Meter comes in.
Follow Have You Tried Being Rich? for no-BS conversations about money, personal finance, wealth, careers, debt, investing, and the financial advice that sounds a little too easy.
FOLLOW US
Instagram ⢠TikTok ⢠YouTube
beingrichpodcast.com
Like the show? Follow Have You Tried Being Rich? wherever you listen and leave us a rating or review. It helps more people find us.
Have You Tried Being Rich? is for entertainment and educational purposes only. Nothing discussed on the show should be considered individualized financial, investment, tax, or legal advice. Financial decisions depend on your personal circumstances. Consider consulting an appropriate qualified professional before making significant financial decisions.