Comments on: The Latte Effect: When Financial Changes May Be a Little Late

By: Dumb Little World » Helpful Ways To Save Money In Hard Times

Dumb Little World » Helpful Ways To Save Money In Hard Times — Wed, 21 Jan 2009 22:41:59 +0000

[...] you just save $20/week by not having a cup of coffee around the corner every morning it can add up (the latte effect). Instead you could pay this excess money on to your mortgage to bring down the interest payments [...]

By: Terri

Terri — Tue, 13 Jan 2009 23:47:45 +0000

Here is my dilemma, I have cut those things so far out of my life it isn’t even funny and still don’t have a savings. I work multiple jobs and color my own hair with a $6.99 box (coupon included) and I refuse to let my natural “early gray” show through. I haven’t had a manicure or pedicure in 15 years. If my clothing is over $10 I don’t buy it and I prepare/cook all my meals. I have basic cable/internet/phone – the bundled deal because I work from home frequently and attend school online. The economy hasn’t hurt me because I have nothing to cut. I even relocated to like 2 miles from work so either I walk or use very little gas. I think I’ll have to really start clipping coupons to find any more money in my future. Life is not easy on one income and 3 children no matter how much you try.

By: Jo

Jo — Mon, 04 Aug 2008 15:44:41 +0000

To poster #6, “mute point”? I’d say that’s a Freudian slip, eh?

I’d love to cut back on all the channels we get from dish satellite. Unfortunately, my significant other is a disabled former Marine. He’s on social security disability and awaiting an increase in his disability rating from the VA. In the meantime, when he’s having to take it easy and sit down, he enjoys watching the Science Channel, Discover, History Channel, Military Channel. Plus, since he contributes a significant amount of $$$ to the household expenses, he feels he has a say in which package we will subscribe.

Perhaps it’s time I called Dish Network to see if they’re offering a worthwhile package that will save me a good chunk of change each month.

By: Allee

Allee — Thu, 31 Jul 2008 04:16:31 +0000

600 stores closed means that there’s going to be a lot of unemployment.

By: ben

ben — Wed, 30 Jul 2008 07:25:09 +0000

@ sam

Ummm, I hope the 3% was a mistype for the mutual fund. You may be a millionaire, but it won’t be worth anything since the inflation rate of 3% will make it entirely a mute point

By: Sam

Sam — Wed, 30 Jul 2008 06:40:54 +0000

Cutting back on unnecessary expenses and saving them instead in a retirement fund will actually make more sense. Before you know it, you’re already a millionaire when you reach 60, if you save it in a mutual fund that earns at least 3%/yr.

Sam
Fix My Personal Finance
http://fixmypersonalfinance.com

By: Shadox

Shadox — Tue, 29 Jul 2008 16:37:15 +0000

The importance of saving on the small stuff cannot be over stated. These small amounts really add up.

On my blog I created an interactive calculator to illustrate the true impact of saving small amounts over the long haul. Check it out:

http://moneyandsuch.blogspot.com/2008/02/latte-factor-calculator.html

By: James@capitalcouplesfinance.com

James@capitalcouplesfinance.com — Tue, 29 Jul 2008 14:02:31 +0000

Cutting back is hard, but you’re right, it is good to get in the habit before you get to the point where you’re struggling. Of course there are a million things to add to the list–particularly insurance and groceries in my case–but realizing that you have a problem is the key. Most people simply don’t.

By: Christina

Christina — Tue, 29 Jul 2008 13:41:32 +0000

Starbucks may simply have overexpanded too. I can walk to four Starbucks outlets, and one kiosk in the neighborhood supermarket. And three independent espresso places.

I wish I could find a way to cut an extra $1000 from our spending each month — that would be nifty. But the only luxury I have that is listed is the cell phone, and I don’t know how much of a luxury that is when I do not have a phone at work, or when I am traveling away from home and am trying to hook up with my friends. Maybe more of a utilitarian convenience than, say, a pedicure or enhanced cable services.

By: Allison

Allison — Tue, 29 Jul 2008 12:11:28 +0000

My mother and I recently went through our normal expenses to cut out the fat. My mother states that she and my father will save over $10,000 per year! I know my husband and I will be saving well over $1000.