Happy Friday all! I am so glad this week is over as I have been sick all week. It’s one of those colds that hits you like a freight train and has been no fun. Thankfully, it appears to have run its course. I know my last few Friday posts have been a bit on the heavy side and this week I thought I would lighten it up a bit with this article from Yahoo Finance on the cronut. Admittedly I had never heard of the cronut prior to reading this article and after I did a quick internet search I found that there is a lot of talk about them. ‘What’s a cronut,’ you ask? You might find yourself asking this if you do not live in New York or have not read about them, but just imagine a donut on speed. This creation is part donut, part croissant which is then deep fried and filled with cream and finally topped with glaze and sugar. I know, I think I gained 5 pounds and had my cholesterol shoot up 40 points just reading that! What the chef, Dominique Ansel, has done (other than create an edible heart attack) is absolutely ingenious. He makes only 200 to 250 of these cronuts each day which has created quite the fervor of locals to get their hands on one of these sugar bombs which are priced at $5 a pop. This bypass-inducing creation has only been available for roughly four weeks and people are now waiting in line for upwards of two hours to get their hands on these little delicacies which has also spun off a black market for cronuts where people are paying $40 to eat something that normally costs $5.
There are numerous ways you can look at the cronut craze. As someone who works in the advertising industry, this chef (or PR person) is an absolute genius when it comes to marketing. He has created demand and limited the supply which has resulted ultimately in people doing crazy things to buy his product. I’ve read that the demand is so high for them that even celebrities can’t get special treatment and have to wait in line like everyone else to get their mouths around a cronut, unless they plan on going on Craigslist to spend $40 on one. Beyond that is the health issue. I like a good donut as much as the next person, but waiting in line to buy one for two hours is something completely different. The caloric information is supposedly (at least from what I can find) not available and makes me wonder how long it’ll take Mayor Bloomberg to tackle the “cronut epidemic”. While I might try a bite if one was offered it would go no further than that as it just sounds and looks like too much of a good thing. Ultimately, I look at this as a financial issue. I know, surprise, surprise on a PF blog, but I have to go there. While the demand has been created, spending $40 on a half donut/half croissant sugar bomb is absolutely nuts in my humble opinion. I guess it’s part curiosity and part wanting to try the “in” thing, but I just can’t help but look at what else my family could do with that $40. Looking at our grocery budget that would fund roughly half of our every 10 day grocery shopping trips. Mind you, we don’t eat rice and beans but we are wise in how we spend that money and it still allows us to buy a thing or two that we might enjoy. I’ll spare you from belaboring the financial aspect of this as I am sure you can guess what I really think about spending $40 on something like a cronut. I’ll leave you with this though…only in America!
Before I get on to the link love, if anyone is interested in guest posting, I’ll be taking the week of June 24th off and am looking for some guest posts to fill the week. If you’re a fellow blogger, meaning I know you or know of you, and you’d like to guest post please contact me. I’ll be helping my youngest brother as he’s getting ready to move after getting his first job as a teacher, so I am doing my part to be a good big brother.
It’s been another great week in the blogosphere. If you have the time this weekend, I encourage you to check out some of my favorite blog posts from this week.
Blog Post of the Week
An Impassioned Plea for Understanding Compound Interest on Broke Millennial
I loved this post by Erin this week. She describes how she hated math as a kid (she’s definitely not alone in that) yet enjoyed learning about one thing – finances. I know that saving and investing are not the sexiest of topics to read about, but compound interest is really where it’s at. There are a million excuses to use, and believe me I have used a few of them, but you really are only harming your own long term prospects if you do not save/invest early in life. If your employer offers a 401k match then that is THE perfect place to start as it’s free money. Beyond that, there are a myriad of ways to get started and please do not allow the amount you have hold you back as time will do a magic thing to it…it’ll grow it. Take it from someone who did not start saving early enough – those years you do not save do matter.
Other Blog Posts That Ruled
Break All the Rules on Freedom Thirty Five Blog
Was Your Education Worth it? on DINKS Finance
The Fantasy World Where Money Doesn’t Exist on Reach Financial Independence
Your Wealth is More Than Just Your Net Worth on Life and My Finances
Why Fresh Food is Cheaper Than Processed Food on The Frugal Guru Guide
Financial Benchmarks Investors Should Consider to Gauge Performance on Financial Samurai
Side Hustle Series: Make Money at Parties on Make Money Your Way
Odd Search Terms
Become rich off of $6…one word – Powerball!
Are rich people mean…I hear they pay their servants nothing.
Can I leave my 401k at Wal-Mart…Why would you want to?
How can I get rich girls…Put a sign around your head that says “Hey ladies, I’m available!”
It is wise to spread out a car loan farther…Sure it is, why not finance it for a decade!?
My head itches…Then scratch it!
Wal-Mart’s highest end clothing…Boy, talk about a contradiction!
Why do people scratch their heads when talking to me…Because you make no sense!
How much would you spend for a cronut? How many pounds did you gain just reading about them? Do you have any fun plans for this weekend?
Photo courtesy of: Mirka23
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