Have you ever thought that a cup of coffee a day keeps your dream bag away?
Discover how to save for your first luxury bag simply by cutting down on a cup of coffee.
If a Louis Vuitton Pochette Metis, Chanel Classic Flap or Hermes Birkin is what you want and dream about, you should make it your next buy. How? Here, the Latte Factor concept introduced by David Bach is something you need to know.
The idea is simple and clear. Small amounts of money spent regularly cost you a lot. In other words, a small amount of money spent over time turns into a mountain of cash.
If we take, for example, such factors as time, habits and control of finance, the picture would be even more surprising.
If we save $3.50 a day for 20 years, we'd end up with about $48,000.
If we continued saving for 40 years, our balance would grow to $209,000. Figures may vary greatly but the fact remains the same - time matters. Think about it before your next investment!
Some people neglect the Latte Factor as they want to enjoy life right now. You often hear that life is «short» and we must «live for the day». Certainly, there is a grain of truth in all of it. However, more often than not, these clichés are used to justify wasting money. The point is we spend money on stuff that doesn't make us happy.
Just try to drink 1 cup of Latte at Starbucks for 21 days instead of 3 or 4 cups. You'd find that you didn't miss them at all. That's true whether we are talking about a cup of coffee, 101 magazines, or a third car.
What's your habit that costs you a lot and doesn't bring equal joy to your life?
The Latte Factor shows that we have far more control over finance than we think. Every dollar that passes through our hands is full of possibilities. Just remember that there is money for needs and money for wants. Distinguish between your want and you mentally want. The difference is striking!
You can build wealth on almost any income!
Here are some figures and examples to illustrate the points above. Let's see how you can save for the bag of your dream.
Louis Vuitton Pochette Metis Bag
The classics of the classics, the Louis Vuitton Pochette Metis Bag never get old. The current price is $1,830. If you save 5 dollars every day, in a year you could easily afford it! Sounds fantastic, isn't it?
Chanel Double Flap Bag
Double Flap Bag is the basics of any it-girl today. The price for medium size is $5600. If you save 10 dollars per day, you could buy it in the coming year. Make it your next investment!
One of the top investments of 2019, Hermes Birkin bag worths your time, effort and money. The basic price for a bag is $11,900. Saving 33 dollars per day, you can think of buying it in one year. If 33 dollars is too much of a good thing, think of saving 15 or even 10 dollars, so you can buy your dream bag in two or three years.
As you can see, the mechanism of saving is easy. The Latte Factor works efficiently and effectively, so try it as soon as you can!