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The Street
The Street
Colette Bennett

Ramit Sethi Explains Why This Popular Financial Advice Is Wrong

While there's no shortage of personal finance advice in the wild, one of the sentiments that's made a lot of headlines the last few years has to do with coffee -- or the lack of it.

The idea that cutting out buying a daily coffee can save you money technically has truth to it, but it's also a polarizing topic. According to a Nerdwallet survey of more than 2000 adults, 1 in 5 Americans find the advice "annoying," but 42% of them also follow it.

Financial guru Ramit Sethi had something to say on it, which he tweeted about March 17.

Sethi followed up this thought with a concise version of the same advice.

Naturally, since the topic is a controversial one, the replies were pretty much on par, with some quick to point out what they saw as flaws in Sethi's advice.

Naturally, however, Samit had his share of supporters speak up as well.

Samit is not likely to budge on his position, considering that he's talked about it before.

“One day, when you’re 2,000 years old, you can feel great — who wants to live like that?” he told CNBC in an interview from 2018. “Life isn’t simply about cutting back.”

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