My wife told me about her weekend and she mentioned what she thought was an innocuous story about buying a “round” of coffees for a group of parents and how she didn’t have to buy coffee for the rest of the weekend (everyone else kept buying “the round”), and it reminded me of some of the best advice I ever received.
Always Buy The First Round
When I had just turned 18, I went out to a Tavern for the first time with a group of guys I knew from my C.E.G.E.P.. All these guys were a little older and were much more worldly than I was when it came to the art and science of drinking.
One guy had worked in James Bay on the Hydro project in the mid 70’s and he knew about life. I confided with him that I had never been out “with the guys” drinking, and he gave me some very good advice.
Always buy the first round, because that is the only round anyone ever remembers and it is very rare that anyone does the correct accounting to answer the question asked before each round, “Whose round is it?”. People will however remember that you bought the first round, because that is the only round anyone, ever remembers.
This advice works for alcohol, for coffee and any other areas you can think of where there is a “round” of spending to be done.
Is this financial advice? Maybe not, but it is very useful.