Is your daily coffee habit worth the money?
Suze Orman, financial expert and best-selling author of "Women and Money," doesn't think so. "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 tells CNBC Make It.
That's because takeout coffee is a "want," not a "need," Orman says. Instead, that cash could be invested and put to work, she argues.
Let's say you spend around $100 on coffee each month. If you were to put that $100 into a Roth IRA instead, after 40 years the money would have grown to around $1 million with a 12 percent rate of return. Even with a seven percent rate of return, you'd still have around $250,000.
"You need to think about it as: You are peeing $1 million down the drain as you are drinking that coffee," Orman says. "Do you really want to do that? No."
When it comes to saving for the future, "Every single penny counts."