Kevin O'Leary says people wasted 15ka years of “stupid stuff” like buying lunch at work – “spend 99 cents to make sandwiches”
“You go to work, you spend $15 on a sandwich – what are you, an idiot?” Shark Tank's Kevin O'Leary In the September Tiktok video, some cruel financial advice was shared with viewers. O'Leary, known as “Mr. Wonderful” for his keen business insights, targets two daily habits – your expensive lunch break and the splurge of a coffee shop that quietly comes from yours every year Thousands of people were quietly exhausted from their wallets.
O'Leary argues that making coffee at home costs about $0.20 per cup, while $5.50 for $5.50 is often spent at coffee shops. Then there is lunch – another major culprit. “Making sandwiches at home costs 99 cents,” O'Leary said. However, according to a survey by ResumeBuilder.com in October 2023, up to 71% of office workers buy lunch at least three times a week, with each meal close to each meal,” O'Leary said. Half costs $20 or more.
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O'Leary said many people, especially those who started their careers in metropolitan areas, earn about $60,000 a year, wasting $15,000 of “stupid stuff.” While coffee and sandwiches seem to be of little importance every day, O'Leary notes that these costs have accumulated greatly over time.
For example, buy lunch three times a week for $20 for $60 a week. In over a year, it's about $3,120. About $5 a day a day, adding coffee habits every day, and you spend another $1,300 a year. But what if you are a typical city worker and keep going with lunch and some coffee every day? Suddenly, you can easily hit the $15,000 O'Leary warning.
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Now imagine putting it into the stock market at the same price of $15,000. Historically, the S&P 500 averaged about 10% per year. Invest $15,000 a year for 10 years and you will end up earning over $260,000 thanks to compound interest. In 20 years, this digital balloon has nearly $860,000. Talk about turning lunch money into life-changing cash.
When we think that this spending will be even harder, according to a funding survey earlier this month, only 41% of U.S. adults can comfortably pay $1,000 in emergency fees. This is a drop from last year when 44% of people said they could pay for their savings. However, workers continue to put budgets into practice at will, which adds convenience to long-term value.
