Jeff Yeager wrote that "it's just unrealistic and indeed irresponsible to think that this strategy alone will provide for your long term financial security."
He was talking about cutting out buying coffee by the cup and other smart, but small, ways to save. He has other ideas on how to accumulate wealth, and he's right about that, but what about if you're just trying to survive? Build up an emergency fund? Live on one income? Many of us aren't in this to get rich so much as we are in it to make the most of what we have or can get.
Long term financial security doesn't mean the same thing to everyone. My definition is to have "enough" to do what I want without being overly indulgent. If you're secure enough in day to day expenses, you may be looking for more. In that case, by all means, feel free to spend your time and energy accumulating the wealth to do it.
But if you want to buy groceries without worrying about saving back enough money to pay the electric bill, then forego that $3 cup of coffee and the designer jeans and the internet charge on your cellphone...
Will you get rich doing that? Well, probably not. You probably will have enough to pay the electric bill, though, even after buying groceries. You might even find yourself with some spare cash. What you do with the money you save matters tremendously. That part is up to you. Not everyone is going to blow it on something else. Would you?
Jeff Yeager's argument is here: It's Not the $3 Cup of Coffee