Latte Factor Management for Healthy Finances

Have you ever heard of Latte Factor? Even if you have never heard of this term, I am sure you often experience it in your daily life, especially if you are young.

The current lifestyle is very close to the latte factor. Let's talk a little about what Latte Factor is.

The term Latte Factor was coined by David Bach about consuming small things that we don't realize can drain our income.

The term Latte is used because it refers to the lifestyle of people who consume coffee every day. But, in financial terms, this doesn't just refer to drinking coffee but consuming small things every day that are out of control.

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Realizing the Little Things We Buy

I often don't care about my expenses. As long as there is money in my wallet or bank account, I often buy small things for my pleasure. I buy ready-made coffee, buy ready-to-eat food, and subscribe to tv series, and much more.

But since I got to know the world of blockchain and indirectly led me to the world of investing, I realized that I shouldn't spend too much money on instant pleasure.

So realizing the things we buy, is the first step to save our financial health in the future.

We may buy fun things, as a reward for ourselves for working hard and struggling through life. But that doesn't mean we spend our money just for fun. We still have a future and we have to save our money for a future that is sure to have a higher cost of living.

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Save Little by Little Income to Invest

We can count the little things that we usually spend on our daily pleasures. Whether it's coffee, tea, snacks, cigarettes, or subscribe to entertainment things from our cell phones.

We can reduce the consumption of these things and then divert them to invest.

Ask yourself which of the things you are most likely to cut off on your expense list and you don't suffer at all for that.

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Think About the Future

To get used to reducing Latte Factor in your life, you can start thinking about how your financial future will be. Don't you want to stop working and let your assets work for you?

If you want your money and assets to work for you in the future, then in the present we have to "suffer a little" to hold back on buying a pleasure and divert that money to invest.

Because holding back a little to buy the pleasure of the moment can save your financial health. You will not suffer or die just because you hold back from buying consumptive things.

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