Entrepreneur and money expert Kevin O’Leary dropped a brutal financial tip for workers and their pricey daily habits.
The “Shark Tank” star ripped the “stupid stuff” people waste money on in a clip posted on Instagram where he questioned the logic of daily splurges as workers “piss away” thousands of hard-earned dollars annually.
“Stop buying coffee for $5.50. You got to work and spend $15 on a sandwich – what are you, an idiot?” O’Leary said.
View this post on Instagram
“It costs 99 cents to make a sandwich at home and bring it with you,” he continued, “You start to add that up every day, it’s a ton of money. Most people, particularly working in metropolitan cities, are just starting on their job, making their first $60,000, [and they] piss away about $15,000 a year on stupid stuff, and that’s what they should stop doing.”
According to data released earlier this year by coffee maker Balance, “About 36% of Americans visit a coffee shop at least once a week, with a smaller yet significant portion (12%) visiting daily.”
“On average, Americans spending on coffee shop purchases was approximately $21.32 per week. This indicates a higher per-visit spend compared to home brewing,” the report noted.
O’Leary’s take on unnecessary spending triggered Instagram users who filled up the comments section with mixed reactions to the advice from the Canadian multi-millionaire.
One user noted that the investor didn’t become a millionaire “by saving on not buying coffee,” adding, “you won’t either.”
“He’s right… why are we giving our hard earned money to pay Starbucks rent?” one person wrote.
“Bringing my lunch to work for decades saved me countless thousands of dollars,” another commented.
One user heartily agreed, writing, “100 percent! $10 here, $7 there, another $12 here & another $9 there sure adds up quickly.”
“Before you know it you’re spending $357 every month totalling a whopping $4284 per year,” the user added.
Others, however, blasted O’Leary’s “out of touch” advice, noting the cost of groceries now and the financial investment of time.
“Time is money, that $15 sandwich you paid, is covering your labor time that’s saving and putting it towards work,” one person wrote while another asked, “Can I get the information on these 99c sandwiches?”
The same clip was posted on O’Leary’s X account where it has thus far racked over 100,000 views.
99 cents to make a sandwich. I’m assuming the last time he did this was 1985.
— Renee Jones (@RenDelSte) September 4, 2024
I see your point, however small businesses are hoping that people visit their shops for coffee and sandwiches. Especially in this economy- it’s a very tough survival game.
— Stacey Chapman (@_StaceyChapman) September 5, 2024
To buy nice bread, good turkey/sandwich meat, veggies, cheese and condiments to make a sandwich costs like $40…
— TrillYates.sol (@Trill_Yates) September 4, 2024
I would mostly agree, but only just. There are bargains to be had and it may work out cheaper to look out for cheap dinner at lunch time for under a £5er, and have you sandwich after work. Times are hard and some places have great lunchtime offers on meals.
— glen cornhill ️ (@CornhillGlen) September 6, 2024
boomer advice from when bread was a nickel
— Dulow Twist (@DulowTwist) September 5, 2024
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida. Powers also contributes to BizPac Review.
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