Do you adhere to the "Latte Factor?"

  1. David Bach (author of Smart Women Finish Rich) coined this term, meaning that small things can add up to a lot if saved... as in, that $3.00 latte some of us get everyday (just one example -- another could be cheap drugstore makeup). Do you skimp on splurging on small things, or do you indulge because it doesn't seem like much? Also, in your experience, have you found that saving those odds-and-ends dollars has been a significant contribution to your total savings?

    When I want something big, I can go all out and my family is the same way. However, I rarely buy Starbucks or little cheap items like nailpolish that some girls seem to have dozens of!
  2. I don't skimp on makeup (love my Chanel and Nars!), but I defintely skimp on things like lunch out/coffee and parking. I park my car further away from work and walk 5 mins so I don't have to pay for parking, and only treat myself to coffee once a week at work. I think it adds up!
    (At least I try to tell myself that to justify a new bag or piece of jewelry!)

    For me, I'd rather go out on a nice dinner out with my DH once a week, than have us both buy lunch every day, KWIM?
  3. Yes! Well, a variation on it, anyways. When I'm thinking of buying something, I'll think of it in terms of cheaper things to justify it: "I've been at school all day, and I've spent $20 on crappy cafeteria junk that I didn't even enjoy. If I kept this up for a whole school week -- and that's nothing! -- that would be $100 spent. ... and I'd rather spend $100 on _______ than on crappy cafeteria food."

    I don't skimp on coffee and biscotti, because that's my favorite part of the day (and therefore worth the expense), but I do try my best to stay away from impulse purchases.
  4. It is funny, b/c I won't pay for Starbucks, parking or other little things, but I will spend $K's on bags!

    More importantly.... the "Latte Factor" ends up not only wasting money, but adding pounds!!! (Couldn't figure out why I was gaining weight my first year working when all I was having for breakfast was a Grande Vanilla Latte.... that is like 500 calories)
  5. I skimp on pretty much everything excpet for bags and food on special occassions.
  6. I am a terrible victim of the latte factor, but as of the past fortnight, I've been very good! I've made my lunch at work every day and eaten breakfast at home.

  7. As a poor university student I def keep close tabs on what I spend. I usually bring my own coffee in a thermos but when i do buy, i get regular stuff and not the more expensive (and calorie loaded) flavored lattes with whipped cream and sprinkles.

    I also try to take the bus as much as possible even though i have a car. Because a) i bus to school and already have a bus pass, b) my pt job is downtown where parking is $$$, c) gas is also $$$ and d) it's better for the environment. I have found that this does add up and puts more money in my purse fund.
  8. I for the most part save money to splurge on something I've had my eye on. So while I'm in that mode I'm pretty disciplined, however when there is nothing I like to spend money on whatever. So, Starbucks, products of various sorts, I enjoy buying different cleaning supplies lol, lunch, dinner, etc.
  9. The latte factor was coined after me... I get at least 1 Chai Latte with Soy from Starbucks everyday. Most of the time I get 2. It is awful, I know!
  10. I used to spend a fortune at Starbucks! I had to have a coffee first thing in the morning. I'd get a headache if it didn't. A lot of times I would get coffee for lunch too. Of course I don't like your basic drip coffee, so I would always have a carmel macchiato or something that cost about $4. I have cut back a lot now, I have a latte every couple of days now.
  11. When I start working, I'm going to budget money for Starbucks. As it is, I only have about one latte a week. Otherwise, I'll budget in the bottled Frappuccinos into my grocery fund. That way, I still get a Starbucks fix.
  12. I rarely go to Starbucks but am a hard core cold caffeine addict. I drink diet Coke all the time (except in the evening)...but I do drink at least a liter of evian every day as well so in my feeble mind I'm "flushing out" some of the dc toxins :angel: .

    I used to spend a ton on DC until I started working at a company where they provide soft drinks complimentary on site. So I'm sure I've saved thousands over the years :lol: .

    I do skimp on parking when I can, cheap lunch, greeting cards (sorry, I love to give gifts but I think cards are a total waste...<running and hiding now.>), and I use drugstore makeup for about 50% of my makeup.

    SO a splurge on a nice dinner or night out or shopping is OK with all that twisted logic :upsidedown:
  13. I have a co-worker who has a starbucks drink every day she comes in to work. I calculated the cost of a $4 latte per day as about $1000 per year. Yup it definitely adds up.
  14. I make my coffee at home. :smile: Occasionally buying a coffee if I'm in the mood, but that $3/4 could go to something more fufilling like a sandwich :smile:
  15. life is too short to deny yourself the little pleasures.