The Latte Factor is a catchy phrase for an old idea: if you waste your money on little things here and there, they add up and wreck your financial health. That’s a pretty simple idea but why is it so hard to pare down those little luxuries that seem so harmless? The Latte Factor is a pretty great descriptor; after all, if you’re a lover of coffee house drinks those $4 boutique beverages will add up in no time. The first time we used budgeting software and tracked our Starbucks purchases I was so embarrassed. We spent enough on coffee alone to pay for a bill or two.
I don’t think it’s reasonable or healthy to cut out every small pleasure; it’s the little things that get us through our days. We just have to budget for them. David Bach on his Finish Rich site even has a Latte calculator that really drives home the point. After all, isn’t it a lot more satisfying to be able to remodel a kitchen than have unlimited (though delicious) lattes? What’s your guilty pleasure that you need to curb? Leave a comment and share!
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Hi! Got here fro dmJuice. I am always looking for local people to interview and local sites for references. I don’t know that I have guilty pleasure. maybe nail polish, but it’s not as consumable as lattes! And sometimes it’s cheaper, especially at Walgreens.
Ooh, peppermint hot chocolate from Starbucks. Still trying to find a recipe to make here at home that satisfies just as much.
I’d love to see the recipe. Thanks Kristen!
Welcome, Julia! I love lip gloss, I know where you’re coming from hehe!
Kristen–I am addicted to that stuff too! I bought a bottle of Archer Farms Peppermint extract (from target) and add it to my normal hot chocolate. Tastes very similar.
Amy–I have lots of little latte factors. Yarn from Knitted Together. Clearance items from Target. Toys for Wesley. Fountain pops. ugh–I sound like gluttonous consumer.
That’s a great idea. I was thinking Peppermint Schnapps but that probably isn’t a good solution for a mid morning pick-me-up. Not the right sort of pick-me-up!
Nichole Ugh Knitted Together – why must that store be so fantastic? I still have gift money from there though so I’m excited. The clearance endcaps at Target can have huge bargains but I agree, tons of stuff I don’t really need.
I’m trying to reign it in too. I’m also drinking my Kum and Go Diet Mt. Dew. I can’t give up every vice at once right?
Hang in there all – baby steps, we can do it!
Mom Link Round Up #7 January 29th « Mean Mama Reviews // Jan 28, 2010 at 11:38 pm
[...] Amy from Housewife Hacks submits: The Latte Factor and Saving Money [...]
I gave up my latte once b/c I saw how much I was spending. and within 1 month I also lost 5lbs
Christine´s last blog ..Hollywood, Paris and Barcelona
Lattes are a treat I’d love to go broke enjoying. Unfortunately, the only time I get them now is when I have a gift card.
It is truly a guilty pleasure.
Visiting from the Round-Up
Mimi´s last blog ..Wrap-N-Mat Review & GIVEAWAY
Thanks for visiting Mimi – coffee house gift cards are the BEST aren’t they?
Whoa! I always forget how many calories are in those things. Sounds like you made a great choice.