The Latte Factor... smh

[Chiara GB.]

Dear all

Today as I'm working from home, I was taking the time to brows through the news here in Zurich, Switzerland (land of the banks, smh). The first topic I see is what??? The Latte Factor of David Bach applied from a young woman who's 35, that tracked for 2 years (!) the little expenses she had having one latte a day... smh... seriously?

She kept tracking all little take away expenses and came to the conclusion that she would have saved up over 10000 swiss francs (almost equivalent to US dollar) a year. And she could have OF COURSE used it to invest the money... in you know already what way... MJ's book says it all.

Then the comments followed... and after having read 2/3 of MJ's book The Fastlane, I was very concerned of what I was reading in this comments left... Out of all of this Swiss (usually very money aware people) only 1 made the same reasoning MJ did in his book. Using the 40 years, saving up 10% etc. for what? For me not even seeing the day, because I might not be here anymore?

I'm shocked, really shocked to see how many people believe this BS over here... I'm glad I do not belong to them anymore...

Just wanted to share this as this mentality seem to be a real epidemic disease...

Wishing you all a productive day!

Kindest regards,
Chiara

 

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[RazorCut]

The world is a different place once the blinkers have been removed.

It's a mindset shift most are not privileged enough to have experienced. The trouble is for many they wouldn't thank you if you tried to educate them. And for many more the advice would fall on deaf ears anyway.

At the end of the day we are all different and all must take our own path in life as we see fit.

 

[ZF Lee]

Dear all

Today as I'm working from home, I was taking the time to brows through the news here in Zurich, Switzerland (land of the banks, smh). The first topic I see is what??? The Latte Factor of David Bach applied from a young woman who's 35, that tracked for 2 years (!) the little expenses she had having one latte a day... smh... seriously?

She kept tracking all little take away expenses and came to the conclusion that she would have saved up over 10000 swiss francs (almost equivalent to US dollar) a year. And she could have OF COURSE used it to invest the money... in you know already what way... MJ's book says it all.

Then the comments followed... and after having read 2/3 of MJ's book The Fastlane, I was very concerned of what I was reading in this comments left... Out of all of this Swiss (usually very money aware people) only 1 made the same reasoning MJ did in his book. Using the 40 years, saving up 10% etc. for what? For me not even seeing the day, because I might not be here anymore?

I'm shocked, really shocked to see how many people believe this BS over here... I'm glad I do not belong to them anymore...

Just wanted to share this as this mentality seem to be a real epidemic disease...

Wishing you all a productive day!

Kindest regards,
Chiara

If you can do away with expenses that are not necessary, in favour of using the cash for more useful things, by all means do it.

Saving money and reducing expenses is legit. You'll need to do that with a business, especially when some slow months come.

There are worse things than skipping lattes, you know...

 

[MJ DeMarco]

And the "stop drinking coffee" hypocrites drink champagne. The more idiots they convert, the more expensive their champagne.

 

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[ManlyMansNegator]

If you can't have a latte, then whats the point of life?

 

[rollerskates]

It is true that if you follow their method of "wealth", you must skip the coffee. Good thing there are ways to have your latte and drink it too.

 

[Rabby]

I would skip the lattes if I needed the money for rental properties, or to put into my own bootstrap business. But of course, when people write these kinds of articles, the lattes aren't the point. The real point is they want to sell their investment products, and they figure if they can deprive you of lattes they'll get the commission on 10,000 franks worth of mutual funds or whatever.

 

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[Ernman]

The world is a different place once the blinkers have been removed.

Ain't that the truth. I've "known" for years that something wasn't right. Then I read MJ's books. Now that I understand what's wrong, I see it everywhere.