Financial advisor Suze Orman has given out a lot of money advice over the years, including in her many bestselling books and TV appearances. That said, the advice isn't always easy for fans to implement in their own lives. In a new interview with The Wall Street Journal, Orman revealed two things that she never spends money on, and they're everyday purchases for many regular people.
RELATED: 10 Things You Should Stop Buying When You Retire, Finance Experts Say.
In the interview, Orman—who lives in the Bahamas with her wife, Kathy "KT" Travis—opened up about her morning routine, which includes waking up at either 3:30 a.m. or 4:45 a.m. and checking a weather app to see if any upcoming days will be good for fishing. Asked by WSJ how she takes her coffee, she explained that she drinks the same coffee at home every single day, because she refuses to purchase coffee from a shop or restaurant.
"I do Cafe Bustelo coffee every morning. I would drop dead before I bought a coffee," the 72-year-old said. "I do one cup a day and that's it."
Not only does Orman save money by drinking coffee at home, but Cafe Bustelo is particularly inexpensive—a 10 oz. package runs around $3 or $4.
If you're already balking at the financial expert's commitment to at-home brewing, you won't like her other tip for saving money regularly.
"I refuse to eat out," Orman told WSJ. "I think that eating out on any level is one of the biggest wastes of money out there."
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In an earlier interview, she said that the idea of buying coffee out is offensive to her.
"I wouldn't buy a cup of coffee anywhere, ever—and I can afford it—because I would not insult myself by wasting money that way," she told CNBC Make It in 2019. "You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee. Do you really want to do that? No."
Orman used $1 million in coffee as an example, because she explained that if that money was instead invested into a Roth IRA, it would earn the investor much more. "If you just simply used your money to purchase needs versus wants, you would find the money to invest in your retirement accounts," she said. "You would find the money to get yourself out of credit card debt."
However, speaking to WSJ, Orman did share what she likes to spend her wealth on, and it's something that's inaccessible to most people.
"I seriously splurge on private air," Orman said. "Unless we go to Europe or something because that's ridiculous."
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Lia Beck Lia Beck is a writer living in Richmond, Virginia. In addition to Best Life, she has written for Refinery29, Bustle, Hello Giggles, InStyle, and more.Read moreFiled UnderCelebrities • Finance • News • Saving MoneyRead This Next5 Red Flags About Using Venmo
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