business stuff, Dylan Gallagher

Starbucks has my money

cupofcoffee

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

Need a Mortgage?  Need a Loan? See if you qualify in less than 30 seconds

Get prepared for your next mortgage or loan.

Request an invitation to our online tool by filling out the form below:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s