Jan 072010
- The daily treat or indulgence that you had on the way to work may have taken a back seat for your finances but having an occasional treat in your budget makes you appreciate what you have more often. Preparing meals at home more often helps you save money and then when you decide to go to for a meal you will definitely appreciate the meal and company when you dine out – even if you are getting takeout.
- Were you a Starbucks or Caribou Coffee fan? Even though you can make your own drip coffee at home, having a cappuccino or latte once a week will make you appreciate the treat and also help you keep your waistline in check. Most people don’t have time to bake elaborate pastries and put them into a case in their home, so reshifting from priority to treat helps shave calories as well.
- In Chicago, bottled water carries a 5¢ tariff per bottle. Become eco chic and carry your own stainless steel bottle. The initial cost does make a noticeable dent in your wallet – the cost of a few cases of water or more, but the savings do add up.
- Many people bristle at the “latte factor” especially if they think they aren’t spending money on lattes. Buying new clothes every time there is a sale or going to buy items that you will use and not seeking out the best price means that people are spending more money and could save some. Trying to work on negotiating larger savings may not work, especially if you are trying to decrease your rent, car payment or insurance. Making a change such as moving getting a different car or changing insurers may save you some money in the short term but what about your well being. Saving a little on big ticket items, compared to eliminating some small things are less noticeable in your budget.
- Now, where the “latte factor” detractors and supporters go awry is that the money saved isn’t put to good use. In the case of making you a millionaire the money saved should be invested or help to pay debt so that in the future you will have money. Saving money in one area to be able to afford another item or increase spending in another area will not make you a millionaire. A dollar invested wisely even in a regular savings account will earn more than a dollar that is spent on a bag of chips.
