My Daughter Wastes Money On Coffee (And I Don't Like It)

A caller asks for advice on how to help her adult daughter understand the money she's wasting on specialty coffee, especially since the daughter graduates college in 30 days. The hosts express skepticism, noting that four years of college coffee habits are unlikely to be fixed in 30 days. They question if the daughter actually has the money for these purchases. The daughter is graduating with a degree in landscape architecture, is described as smart, talented, and a great person, with specialty coffee being her "only sin." The hosts suggest that once she starts her independent financial life and sees her Starbucks bill, she will likely realize the cost herself. The main advice given is not to directly confront her about the coffee, as it will likely be ineffective. Instead, the father should encourage her to start doing a detailed written budget using a free app like EveryDollar. The hosts believe that a budget will make the numbers "yell" at her, revealing the true cost of her coffee habit, like spending $300 a month. This self-realization through budgeting is deemed more effective than parental advice. They also discuss that if the daughter has the money and values specialty coffee, it's her choice, comparing it to other spending habits people might "roll their eyes at" but aren't inherently wrong if affordable. A story is shared about the hosts' grandparents during the Great Depression reusing coffee grounds for three days, eventually creating "coffee tea," highlighting a difference in generational perspective on "wasteful" spending. The hosts emphasize that a budget provides clarity, showing when spending is "stupid" or "smart." It helps individuals understand the opportunity cost of their money and where it can be used wisely, like for investments or an emergency fund. They recount an anecdote about a couple who discovered they were spending $1,200 a month on eating out, explaining their lack of retirement savings. The numbers in a budget, they argue, will communicate the financial reality to the daughter, allowing her to make informed decisions about her spending, including her coffee habit, within the context of her overall financial goals and stability.