I was standing in line at one of many local Starbucks I frequent with a good friend of mine who was watching me use my Starbucks app and said “how much money did you give Starbucks?”
I thought about it for a moment and said “25 bucks”.
He said “how long ago did you give it to them?”
I thought for another moment and replied “maybe three weeks ago”
“How much are they paying you for it?”
I said “…nothing…”
To which he replied “then why did you give it to them?”
[insert blank look here as I reflected on his question]
What he was referring to was that I had prepaid my Starbucks account by $25 three weeks ago to make sure that I could pay for coffee without fumbling for change or being inconvenienced by having to use my debit card. The fact that I had never considered that Starbucks was holding my money and I was prepared to have them do that so that I could benefit from “convenience” got me thinking about other situations like this in my life. Who else do I give my money to who in turn promises me a future potential benefit of convenience?
Not that $25 is significant in the grand scheme of things it does make me stop and think about how easily we can make financial decisions without giving them a lot of thought. I usually purchase coffee for people using my Starbucks account so I can get “stars” that after a certain amount give me a free drink which now makes me feel really silly about paying in advance for coffee I don’t drink today.
What a great business Starbucks has and what a great customer I am.
There was a time when a fool and his money were soon parted, but now it happens to everybody. – Adlai E Stevenson
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