Cutting back on Starbucks? It's not really good for you anyway

It only takes basic common sense to realize that as the prices of necessities rise, the money consumers have for "extras" decreases. Increased grocery bills and gas station fill-ups are the most common culprits these days, forcing consumers to change their spending habits.

Kelley Blue Book (the car people) surveyed people shopping for new cars, and found that 28% have stopped going to Starbucks or coffee houses, and 21% have reduced their visits. Survey participants also reported decreased purchases of music, tickets to sporting events, eating out and recreational shopping.

Is that so bad? Sure, stopping at Starbucks each morning or afternoon for your high-calorie coffee fix is fun. But how much will it really impact your life if you cut it out of your budget or did something like stopping at Starbucks only once a week? Coffee of any kind is not really that good for us, and spending $3 to $5 a day on it is a complete waste of money. Especially when you can make your own coffee for a fraction of the cost.

Cutting down on wasteful spending on things that aren't necessities doesn't really bother me. In fact, I've been on my own little quest to reduce my spending, just to see how low I can go. So I won't be crying any rivers for those who find they can't visit Starbucks as often. Do what you need to do in order to live within your means. Life is about more than a cup of coffee.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.