Jakarta, CNBC Indonesia – Before Starbucks was founded in 1971, not many people in the world drank coffee in shops or cafes. It was only when Starbucks was formed in Seattle, USA, that year by Jerry Baldwin, Zev Siegl and Gordon Bowker, that there began to be a change in coffee drinking culture.
If previously drinking coffee was an activity consumed at home, then that is no longer the case. Drinking coffee is an activity that must be done outside the home, while chatting with colleagues and work. And since then, coffee shops have sprung up rapidly in the US and then spread throughout the world.
The results can be seen today. Drinking or buying coffee products from cafes has become a new culture that cannot be separated. This was all accompanied by the massive opening of cafes selling coffee.
Photo: CNBC Indonesia
The Statista website states that there are 2,331 coffee outlets throughout Indonesia in 2020. All of them are loyal friends of workers, students or students in their activities. They routinely buy coffee which costs as little as IDR 15 thousand.
However, according to financial expert David Bach to CNBC International, This habit makes it take longer for people to get rich. Buying coffee is a small expense that people often make.
The problem is, people often forget that spending money on coffee every day can provide big results if used well. If the money is diverted to productive things, then the money can increase our wealth.
This is what David later called “The Latte Factor.” In line with David, financial advisor Suze Orman in The Atlantic also said that buying coffee in cafes is a wasteful effort, especially among young people.
“Brewing coffee at home is cheaper, buying it elsewhere is the same as wasting money. In fact, the money could be something useful if it wasn’t wasted,” said Orman.
How to still be able to drink coffee and be rich
Even so, Amanda Mull in The Atlantic provide a middle way solution to matters. According to him, it is legal for someone to buy coffee in a cafe as long as their expenditure is recorded so that it can be evaluated as a form of self-awareness.
And most importantly, purchasing coffee every day must be accompanied by commensurate capabilities. This means, don’t go into debt or delay payment obligations just for a cup of coffee.
Photo: Coffee Illustration (Photo by Chevanon Photography)
Ramit Sethi, book author I Will Teach You to be Rich says that diligently ‘drinking beautiful coffee’ in cafes can indeed make people more wasteful, but that is not the main factor preventing you from becoming rich.
To become rich, said Sethi, you need to start by changing your perspective (mindset) towards things. “I wouldn’t say, ‘Hey, stop snacking on coffee. If you can save that much money, you can use that money for a down payment on your house.’ Such a thing will not work,” said Sethi, to CNBC Make It.
Rather than focusing on a cup of coffee, Sethi suggests you ponder questions like:
“Have I invested regularly every month?” or “Have I negotiated a raise?”
According to him, one of the biggest misunderstandings people have about becoming rich is treating money as an object that must be protected and saved, even though the correct thing is to use money only as a tool to earn many times more income.
Likewise, Tom Corley, book author Rich Kids: How to Raise Our Children to Be Happy and Successful in Lifee thinks that buying coffee every day is not a problem. As long as it is accompanied by the habit of saving and investing, so that you stay on the long-term financial path. If these two things are fulfilled, then it’s okay to spend money self-healingsuch as holidays, shopping, including buying coffee.
So, have you had coffee today?
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