Comments on: My latte factor costs a lot of money

By: Paul

Paul — Mon, 08 Dec 2008 01:59:57 +0000

It really does add up quick…the “cash” and “eating out” really pile up a lot faster than I though. While $5.50 for subway doesn’t seem like much one day, I realize I can eat lunch all 5 days of the week for about the same amount if I prepare. And I won’t even start on how much I spend on coffee…

By: Deb

Deb — Sun, 07 Dec 2008 22:37:24 +0000

Thanks for being so honest about your spending. I don’t think I have any odd day to day spending, being a stay at home mom…but I think I will keep track of ‘unneccessary’ items bought in the grocery store.

By: Michelle

Michelle — Sun, 07 Dec 2008 12:17:14 +0000

Steve – I hear you about eating the groceries before they expire! Salad is my worst culprit!

And Joan – right on … this whole thing was really eye opening to see how much I ended up spending on frivolous over the week.

By: steve

steve — Sun, 07 Dec 2008 05:31:23 +0000

Also, try to eat those groceries before they go bad! I noticed when I ate out a lot, many of my groceries expired before their time. I try to look every few days and see which veggies, milk or other items need to be used ASAP before they become unappetizing or worse.

I still throw food out, but it has ended up being much less than before I made a conscious effort to eat the stragglers in the fridge every once in a while.

By: steve

steve — Sat, 06 Dec 2008 20:38:38 +0000

the latte factor is huge in my experience. if you write down your expenses consistenly over time, you will find you get a much more accurate sense of the flow of money in your life and get more use out of your money in general.

Just to put food costs in perspective, over several years I have discovered it is possible to eat very well for the entire month for $140. That’s like $4.66 per day. You may not decide to go for that, but so you know that seems to be a bottom limit for food for someone who only eats food he cooks. That includes a chicken about once a month, and eggs and milk, a small amount of cheese, and the rest vegetarian. I bake my own bread and desserts/snacks too. It helps to freeze some servings of chili or whatever to bring to work on those days you haven’t been organized enough to prepare a proper lunch.

Knowing that I can fulfill all of my nutritional needs for $4.66 puts a different scale on the price of drinks and snacks at the local coffee shops. Looking at a coffee and a muffin or just a single latte that costs almost as much as I would need to feed myself for an entire day makes going to the coffee shop very unattractive to me except for a very special occasion, like if a friend is visiting or it’s a special social occasion and the occasion is more important than the expense.

It’s something to think about.

By: Joan.of.the.Arch

Joan.of.the.Arch — Sat, 06 Dec 2008 20:34:16 +0000

“Latte factor” is not your totally weekly spending. The latte factor is more like one’s regular unnecessary spending that adds up to far more than you recognize without totaling it up, and which you would choose to use in other ways, especially for saving. There is the implication that it is something like daily lattes which one could give up in order to save that amount. In your case, snacks or eating out might be a latte factor.