One morning, I left early to get my car inspected. With laptop in hand, I prepared for the long wait time. The garage is conveniently located next to Starbucks. And this presented an opportunity to sit on their patio on a pleasant morning.
Debt-Free Living
When I use a table at Starbucks, I believe in supporting the business, but I also spend my money carefully. And thus had already made my coffee at home. I gave up my daily Starbucks run over 12 years ago thanks to a personal finance class.
I debated over what to order. A muffin would be less expensive but full of sugar so I settled on Bacon Gruyere Egg Bites. $4.99 was the price of using their table, shady umbrella, and WIFI for two hours; good value for my situation.
But the price tag got my wheels turning…$5 multiplied by 5 days a week? Add on a grande drip coffee, at $2.95/day and now it’s $8/day or $40/week. Change the drip coffee to a latte and it’s $50/week or $200/month. Pick up a pre-packaged lunch once or twice a week and the number is $75-100 per week. The ripple effect of one Starbucks could cost $2,600-$5,200 a year.
I wonder.
How much money goes into your savings account each month? If the answer is zero and you just did the math on your own Starbucks habit, then we need to talk.
Stop Shopping
The best way to declutter, get organized, and reign in your finances is Stop Shopping. When I speak to moms’ groups, it is the first piece of advice I offer because it works.
I hear the arguments. No one is going out for coffee and dinner during COVID. Wrong. I watched a steady stream of Starbucks’ customers while I typed this post. The drive-thru lane never emptied as others picked up pre-ordered items. By using the Starbucks App, the money spent barely registers in their brain.
What’s my point? There is a better way. One of the greatest gifts from living simply and becoming a minimalist family is Financial Freedom. Our family survived two 6-month layoffs without touching our savings or retirement. That, my friends, is financial peace.
I don’t get the impression that families feel much peace right now. But I believe you can make changes to achieve financial security and become debt-free.
The best part? You’ll get organized too. If you reduce spending and stop the inflow of stuff, it opens up time to declutter and get organized.
Now you know how much your Starbucks habit costs, so let’s fix it.
Make Coffee at Home
Say goodbye to the Starbucks run. At home, I brew good coffee, not the cheap stuff. And it’s still a significant cost saving. As part of my morning routine, I turn on the tea kettle and grind beans for my French press. I start my day with a daily devotional and a hot cup of magic beans. It’s my favorite part of the day.
Create a Meal Plan
I batch cook on Sunday and meal plan based on inventory in the fridge and freezer. But you can start today! Resist the ease of take-out and the expense. Breakfast makes a great dinner if you don’t have anything planned. Cook a big pan of scrambled eggs plus toast or pancakes. Afterward, ask your family to clean up while you create a meal plan for the week.
Build and Track a Budget
Spend your money on paper first and decide how to use your limited funds. You can start by generating a report from your bank account. Most banks offer budgeting tools that show categories by month. It’s enlightening to review the last 6 months. I know you hate budgeting but if my 14-year-old can do it, so can you. Try monitoring categories where you overspend. Groceries, dining out, Target, and Costco are the usual suspects.
Shopping Moratorium
Pick a category and stop purchases for a specific timeframe. No Starbucks until the Credit Cards are paid off. No shoe shopping for 6 months. Grocery shop no more than every 2-3 weeks and eat what you have. Boundaries and constraints are helpful. They create financial discipline. Boundaries restore order to our physical home and our financial house.
Borrow, Repurpose, or Do Without
Before you “Add to Cart,” press pause, and reconsider the order for at least 24-Hours.
- Discuss it with your spouse.
- Do we need to buy this item?
- Did we budget for it?
- Can we borrow it from someone?
- Would a repurposed item solve this problem?
Financial freedom and living simply go hand in hand. If you want to get organized, look at your finances. When you lack financial discipline, the clutter continues.
And once you realize that addressing both areas of your life will reap great reward, you’ll never look back.
My only regret is not figuring this out sooner. Imagine the ripple effect that would have had.
Love this! I do many of the suggestions in your post.
Make my own coffee. It’s a much better ritual then lining up at Starbucks. But the coffee I love is the Walmart Espresso (actually have to order it from they website). Inexpensive and good!
I have always given myself a 24 waiting period before making a purchase over $25. Sometime it seems kind of silly, but I often don’t return to the store to purchase the item. That little bit of time shows me that I really don’t need the item. Lately, I just don’t shop – in person or online.
I agree. I love the ritual of making my own coffee. I hadn’t thought of it that way. And it doesn’t take that long. But I think that convenience goods like to-go coffee have convinced us that they are faster. Great tip about the inexpensive coffee too! Thanks, Janet.