I found this article this morning on MSN.
Another example; there is a guy over here called David Bachs – finance guru, who calls this the ‘Latte Factor’ – how much of your income do you blow on ‘stuff’ – like lattes from Starbucks?
http://www.finishrich.com/free_resources/lattecalculator.php
Has anyone tried this?
Do you already live this way?
Could you find an extra $100 a month for investing?Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Thanks Marc for posting the article.
Its a good reminder of how reducing unnecessary expenses can lead to financial richness in the long run.
Steve talks about the 33:30 challenge.cheers,
Sanjiv Gupta“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
I did a calculation on the cost of our morning coffee at breakfast. My wife and I only have 1 or maybe 2 cups per day.
We buy a large 1 kg tin of the local supermarket home brand ground coffee, which is usually around $6, but can be found in the specials bin if one of the cans is dented (around $3.50). It is very nice coffee as well. Each tin lasts about 7 weeks.
We use tear off sheets of paper toweling for the filter paper, water from the filtered supply that runs through the fridge (so it's really just tap water) and we buy our milk in bulk (2 gallons at a time).
We bought a coffee maker from the same local supermarket for $30 about 15 months ago; still in use.The total cost per cup for a tin of coffee is approx 10 CENTS. If I manage to find one of the dented tins on special, who knows how cheap it is.
By contrast, we went to a local trendy cafe for brunch on Melrose Ave last week; triple shot Latte – $5.25. Thanks for coming, and won't be going back.
The scary thing is people here will do that 2 or 3 times a day; usually "to go".
i wouldn't call a good coffee an 'unnecessary expense'!!
vital to my life.. i probably spend around $20 per day on good coffee.. let alone just spending a small fortune on a coffee machine.. coffee beans are around $48 per kg too..
add good quality italian hot chocolate to that too..
This week one coffee with extra coffee $3.Which brings the total for the year to $40.I found when I started collecting recepts for every cent spent and then logging them into my computer manually and checking my bank statements made it easier to justify keeping my hands in my pockets. Then again I really needed that coffee earlier this week as I had lots still to do and I hadn’t managed any sleep in 48 hrs.I don’t recommend working like this but there are times when one must grab an opportunity and work work work.Perhaps my need is a justified cause in this case?'The most important thing in life is to see to it that you are never
beaten.' Richard Denny.
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