Finance

Perhaps you find it difficult to empathize with my affinity for smoking marijuana. Perhaps you hold the view that smoking weed is repugnant or degenerate behavior and have resolutely stayed away from it throughout your life. That's perfectly understandable. Now, let's delve into your coffee habit. You should be aware that it too comes with a price.

The Financial Implications of Everyday Habits

Section 1: The Coffee Debate

Within the financial literacy community, there has long been a rift regarding coffee. Is it wise for those seeking to take charge of their finances to cut back on caffeine? Recently, I came across a meme that clearly advocated for sticking with coffee. It stated that at a day per cup, a person would spend approximately ,900 a year on coffee. This is about 0 more than my projected weed bill. However, this column isn't about my stance on the coffee debate. I'm not here to judge which is right or wrong or to tell you whether you should or shouldn't buy coffee. I'm not even a coffee drinker. I've never had a cup! I don't desire or need to consume it. Weed is my coffee. I just wish my hobby didn't carry the same negative connotation as yours. But I'm glad to see that this negative perception is beginning to wane as legal marijuana gains more acceptance in various states.In airports across the country, I often witness coffee-crazed individuals patiently queuing up at Starbucks at the crack of dawn. They seem to be addicted to their coffee. But I can't help but wonder about the time commitment involved. As an investor, I find it interesting. When Starbucks' stock was down by 24% year to date in May, I saw it as a buying opportunity and increased my Starbucks' stake to 32 shares between May and August. I was confident that the stock would rebound and that I would eventually make a profit. The swing trading method I'm learning is helping me generate additional income.Four days after my final equity purchase of a little less than 2.5 shares on August 9th, Starbucks' stock surged. Former Chipotle CEO Brian Niccol was appointed to the same position at Starbucks, and the coffee giant's stock soared by 25%, marking its best day in history. It has remained at a high level ever since. I'm now up 31% on my position, which amounts to 7. On Thanksgiving Day, I received a dividend payment from Starbucks.

Section 2: The Health Aspect

Coffee drinkers can point to the positive aspects of having a daily cup of joe. Studies suggest that coffee, like marijuana, may have potential health benefits. However, when I hear coffee club conversations, I can't help but think about dependency. From a purely financial perspective, coffee is another beverage that undoubtedly drains your bank account, especially if you're not paying attention. Before you know it, you're trapped in a senseless pattern of paying for various drinks like coffee, tea, soda, alcohol, bottled water, and energy drinks.When should it stop? Do you really need all these drinks? I've shared many of the things I've cut out or reduced during my financial transformation. Just like coffee, these things seem insignificant at first glance - pizza and beer, subscriptions, and eating out. I even told you how I changed my water consumption. I know from personal experience that all these drinks are expensive, largely unnecessary, and, for the most part, unhealthy. When your funds are limited and your resources aren't being used optimally, these combined expenses can become another silent barrier to wealth-building.

Section 3: Habit Reevaluation

Some may view discipline as deprivation, while others will praise your sacrifice. But remember, no change needs to be permanent. I'm living proof that even just cutting back can be beneficial. I've learned that things I once considered routine don't have to be a daily occurrence. By reevaluating our small, everyday habits - whether it's coffee or weed, subscriptions or eating out - we can free up funds for more important things like saving and investing.Darnell Mayberry is a sportswriter based in Chicago and is the author of "100 Things Thunder Fans Should Know & Do Before They Die." He loves his daughter Parker, money, and the Minnesota Vikings. You can find his column, Money Talks, every Saturday on cleveland.com and on Sundays in The Plain Dealer.