shark tank investor Kevin O’Leary said harsh words to some people Waste money in “stupid ways”.
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“Stop spending money on things you don’t need! What’s the biggest waste of money you’ve seen today?” O’Leary wrote in a Sept. 8 post on X (formerly Twitter).
In the accompanying “Money Saving Advice” video, O’Leary reveals two ways most people waste a lot of money each year.
First, he said, people should stop buying coffee at exorbitant prices. This is something he has said repeatedly in countless videos and articles, where he claims it costs 20 cents to make at home and he “invests” the rest.
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These seemingly small everyday purchases add up and end up straining your budget. Another red flag is buying lunch at work instead of preparing a homemade lunch.
“You go to work and spend $15 on a sandwich…what are you, idiot? If you make a sandwich at home and take it home, it costs 99 cents,” O’Leary said in the video, adding that when you add up every day, it’s a huge amount. He claimed that it would cost a certain amount. “Most people, especially those working in big cities, just start their jobs, make their first $60,000, and end up wasting about $15,000 a year on shitty things…that’s when they quit. It’s the right thing to do.”
Food prices remain high, another reason why preparing a homemade lunch is a better option. To put this in context, the price of food from households, i.e. the price of what you buy in restaurants and shops, has increased by 5.4% over the past 12 months. This figure is higher than the 3.2% increase in overall food prices, according to the Consumer Price Index (CPI) report released on November 14th.
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This article was first published GOBankingRates.com: Kevin O’Leary reveals two ‘stupid’ ways most people waste $15,000 each year
