Are Malaysians Spending Way Too Much On Coffee?
Face it, your caffeine addiction is why you’re always broke.
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Malaysians, especially millennials, are spending quite a bit on coffee. Yeah, you heard that right.
Last year, the Malaysia Coffee Association said 85% of millennials are downing at least one cup a day.
Highlighting a report by The Star where a 42-year-old said she spends between RM70 and RM100 a week on coffee, Alvin Vong, the big cheese at EquitiesTracker, posed a rather thought-provoking question.
Indulge in beverages like coffee or save and invest towards a bigger goal?
The RM4,800 Coffee Hangover
Let’s do some quick math: RM100 a week = RM400 a month = RM4,800 a year
That’s a chunk of change that could’ve been your ticket to Europe, a new laptop, or, heck, even part of a down payment on a car.
But no, you’re literally drinking it away.
Speaking of down payments, listen to Vong’s statement: “If you invest RM300 a month with a 6% annual return over 10 years, you could potentially accumulate RM48,742.”
But sure, keep telling yourself that daily cappuccino is “essential.”
Betul tak dinafikan ekonomi salah satu faktor yang menentukan kesihatan seseorang.
— mucik musyrif (@mucikperlis) July 30, 2024
Tapi trend pemakanan zaman sekarang pun memainkan peranan. Tealive, chagee, starbucks (dulu), even pergi "specialty coffee" pun order Asian Dolce Latte. Itu semua mahal tu https://t.co/ik62d4XjOb
Your ‘Morning Boost’ is Their Jackpot
Let’s take a look at Zus Coffee, that local joint you can’t seem to stay away from.
They reported a whopping RM204.12 million in revenue last year.
READ MORE: ZUS Coffee Brews Up RM250 Million Investment For Global Takeover
READ MORE: Mixue Mania: China’s Budget Boba Boom Takes Over Malaysia
But hey, who needs financial security when you’ve got your “morning boost,” right?
Keep it up; your credit card debt is the only boost you’ll get.
Nak beli starbucks pastu orang tu suruh guna atome nanti dapat rm10 discount. So sekarang saya tengah minum starbucks installment 3 bulan. Belum habis bayar air nak habis dah 👍🏼 pic.twitter.com/0j5qcv9fl9
— OKAMI (@FrhanaAzman) February 21, 2023
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