The Importance of Conscious Spending

Nick Gillespie: I think the more interesting conversation is how this highlights just how important conscious spending is. If you're drinking daily coffee at $4 a day versus if you have one really fun outing to get coffee once a week, that makes a big difference over the course of 30 years. Most people are not optimizing the 80 20, right? And so the Pareto principle of the 20%, so they might be cutting out the daily coffee, but to your point, if you're overextending yourself on a huge car payment, for example, then that's going to crush anything that you could be doing with your coffee.