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Ronen Brown
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Ronen Brown   My Press Releases

How much is your "latte" costing you? Save money with little effort

Published on 1/13/2015
For additional information  Click Here

I'm re-reading the book "The Automatic Millionaire" by David Bach, and wanted to share a simple way to save money with little effort. Bach calls it "The Latte Factor" and once you start implementing it, you will be on your way to saving money every month.

Sadly, it is a fact that many Americans do not save enough every month for retirement. Even sadder, many believe that it is impossible for them to save, because what they make is barely enough to pay their bills.

What David Bach teaches in his book, is that the problem is not how much we earn...but how much we spend! If we don't discipline our spending, it doesn't matter how much we make, we will still not be able to save.  The idea here is that regardless of the size of our paycheck, we probably already make enough money to become rich, we just need to identify and cut out our "latte factor".

The latte factor is all the little things we spend money on, sometimes on a  daily basis, that we don't even think about: that morning coffee at Starbucks, that mid-morning snack at the office, that candy bar at the gas station, the fancy water bottle, the fast food, etc.  We all throw away too much or our hard earned money on unnecessary "little" expenditures without realizing how much they can add up to.

The sooner we figure out our "latte factor", the sooner we can eliminate those expenditures and start saving that money.

What if you could eliminate $5 of little expenses every day (average cost of a coffee and a muffin):

$5 saved x 7 days= $35 a week = $150 a month. If you invested $ 150 a month and earned 10% annual return, you'd end up with $ 339,073 after 30 years!

If you invested $10 a day (or $300 a month) and earned 10% annual return, you will end up with $678,146 after 30 years.

Believe me, even with inflation and everything, $ 678,146 will be worth a lot more than noting,  which is what you will have if you don't start putting money aside now.

Do  you think that you can find a way to cut at least $5 from your daily spending and save it?

To find out how investing your small savings can do for you click here         

To find out about a great way to make extra money every month while helping others improve their health and well being, contact me.


Ronen Brown


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