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What's Your Latte Factor?

January 15th, 2007 at 12:09 pm

I just finied the Automatic Millionaire and I was wondering what everybody's Latte Factor was. If you haven't read the book, the Latte Factor is something you do on an almost daily basis that costs you a bit of money and is unecessary.

The idea is to figure out how much it costs each day, eac week, each month and each year. Then stop doing that thing and instead save that money.

So, what's your Latte Factor?

My Latte Factor is stopping for a bagel and coffee at DnD on the way to work every morning. I spend about $1,600.00 a YEAR doing this!!!!

I luckily have been braking this habit over the last month and now I breakfast and coffee at home every morning. That $25 a week or so adds up!

Posted in | 13 Comments »

13 Responses to “What's Your Latte Factor?”

  1. The Dollar Diva Says:
    January 15th, 2007 at 12:47 pm 1168865243
    1168865243

    You know what? I think my Latte Factor is time wated and not money spent. I could do so much more if I quit wasting time! I'll have to figure out my "free" time (time not at my job) and see how I fritter it away and what I could be doing with it. This weekend I had sooooo much to do and I didn't do any of the really important stuff (other then a couple loads of laundry and grocery shopping).

  2. Somerlyn Says:
    January 15th, 2007 at 12:50 pm 1168865431
    1168865431

    I work full time and usually get home around 6. My Latte Factor was eating carry out. I was tired and just didn't like eating at 8 at night. I have done this for years but have since buckled down and created menus, Got a crock pot and make some meal in that. I have the menu posted on the 'frig and make sure I have the groceries for each meal so I have no excuse not to make it. We still eat kind of late but that can't be helped. It does save us at least 10 dollars to 25 depending on if the kids are around.

  3. Broken Arrow Says:
    January 15th, 2007 at 01:56 pm 1168869396
    1168869396

    Latte Factor....

    Well, I don't even eat work lunches, much less lattes. Big Grin

    But I do eat out sometimes for dinner. I suppose that would be the latte factor for me.

  4. campfrugal Says:
    January 15th, 2007 at 01:59 pm 1168869587
    1168869587

    I caught onto that Latte Factor a long time ago. I really didn't think I had a lot of fat in my financial budget, but the beginning of this year, I wrote down everything I pay out on a weekly, monthly, quarterly and yearly basis and how much they added up per year.

    I went through every catagory, made phone calls, cancelled some things, changed some around and have saved myself around $2,000 a year.

  5. Lez Save $ Says:
    January 15th, 2007 at 02:42 pm 1168872170
    1168872170

    I am with Broken Arrow here, I have no Latte Factor...and just like campfrugal, i think i've basically trimmed the fat on my budget too....

    I sometimes feel like a rich person who lives like a poor woman...but I am happy everyday and I do donate to charity.

    I am hoping to use my time more wisely too!

  6. monkeymama Says:
    January 15th, 2007 at 02:44 pm 1168872293
    1168872293

    Mine is $0 - LOL. It is so true though. We have a lot of bigger things and a lot more money because we skip the little things.

    It amazes me when my broke friends are getting the manicures, fancy salons, coffee, eating out ALL the time. & then I am the one who skips all that because "I Don't have the money." My net worth is $400k, there's is about $0. The proof is in the pudding.

    My parents taught me well but years living on $10k made it necessary not to waste money. I just treat my money the same today to a big extent. IT goes to savings instead. I Still question spending $10 for a meal out or a knick knack - feels like a waste. I certainly live well, I just buy what I value and really evaluate what I value. A latte every day or a manicure are pretty low on my list. A nice house and a comfortable lifestlye and a good amount of savings top my list instead.

    You will see - it will add up! Good Luck!

  7. Amber Says:
    January 15th, 2007 at 03:06 pm 1168873574
    1168873574

    Well I eat out, and I am trying to cut it out

  8. sarah Says:
    January 15th, 2007 at 05:03 pm 1168880637
    1168880637

    My latte factor is my food/household budget. I am trying to keep this to 300 a month for 2007. So far I am not dooing to badly. But this is the big sinkhole in my budget.

  9. Carolina Bound Says:
    January 15th, 2007 at 06:41 pm 1168886464
    1168886464

    I think my latte factor is gifts and spending for others. I am always trying to give the perfect gift and to make others happy. Also, there are some big spenders and some people with high expectations in my family. It makes me nuts!

  10. LuxLiving Says:
    January 15th, 2007 at 08:25 pm 1168892705
    1168892705

    I read the book when it first came out and wasn't doing too much then, but I did stop the fast food eating out as much. We still do this ocassionally, but not very often anymore. Very rarely indeed. I literally stay home so much that it isn't an issue much anymore. Once I return to work I will have to watch it though that fast food doesn't become my crutch.

    For Hubster it's his cigs by far.

  11. kealina Says:
    January 15th, 2007 at 10:43 pm 1168901013
    1168901013

    nothing daily but we (meaning DH and I) do have a weekly latte factor in garage sales...just this past weekend we spent about $12, and out of that i spent $2.50 on myself....i bought 2 black dresses (long and short), a pretty sage green button up shirt and a pair of white leather lace-up ankle boots... do i need them? no... does it add up? yeah... still, i figure it gives me enough pleasure to justify spending the money... =D

  12. LuckyRobin Says:
    January 16th, 2007 at 09:53 am 1168941182
    1168941182

    My kids are my latte factor. I've gotten much better about saying no, but still...they WANT.

  13. debtfreeme Says:
    January 17th, 2007 at 01:34 am 1168997681
    1168997681

    eating out especially fast food. not had a bite of it in 1 month and it feels good on my wallet and my health.

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