The lowdown: The Latte Factor by David Bach give us three important tips in order to achieve or do our lifetime goals.
Part parable, part self-help guide, The Latte Factor helps you set and achieve your financial goals.
Let’s face it, adulthood isn’t what you thought it’d be… The first thing you realize when you step out into the big bad world and become independent is that money doesn’t last long.
Even with your well-paying job, you can’t do all the things you’d like to because it seems like all your money goes towards college loans, credit card debts, or just things you need to fix when it breaks.
- Audible Audiobook
- David Bach (Author) – Mizuo Peck, David Bach (Narrators)
- English (Publication Language)
- 05/07/2019 (Publication Date) – Simon & Schuster Audio (Publisher)
In the Latte Factor, you meet Zoey, she has all the financial problems you probably have and will find a solution after she suddenly meets a Latte shop owner. With this story, you’ll learn three important lessons.
- Three secrets of financial freedom
- Paying yourself first and automation as success keys to financial success
- Start living like a rich person right now
Lesson One: Three secrets of financial freedom
Zoey, is just another person living like many of us, in a self-made financial prison.
Her life would have an interesting twist after she bought her double-shot latte as she always does in her daily commute.
After seeing a photograph in the coffee shop and in the subway station, Zoey started thinking about what she was doing in order to achieve her dreams – she always wanted to complete a photography course and travel around the world –, why she couldn’t afford what she wanted in spite of working very hard.
After telling her boss why she was a little off that day, she suggested a weird and strange idea so Zoey could find an answer to her problems; Talk to Henry, the oldest barista who worked in the same local she used to go every morning before work.
The following day they awkwardly met and Henry, after hearing she couldn’t buy that picture because it was almost the month’s rent of her apartment, told her something it would bug Zoey for the entire day.
He said if she could afford the latte she’d just bought, she could afford the photograph. The only thing she’d need to do was learn the three secrets of financial freedom.
Lesson Two: Paying yourself first and automation as success keys to financial freedom
The first secret Henry told was very simple: ‘To start to pay yourself’
So before paying anything else, she would commit to paying herself five dollars a day, so combine with compound interest she would save almost two thousand dollars per year, only for the cost of the latte she was holding.
After she started to calculate the money she could save only if she could change all her spending habits, she realized something; she didn’t see herself keeping the discipline of saving every single day of her life.
I know I have been in that situation before.
To that Henry only did but to agree, but also came with an answer, the second secret.
‘Don’t budget, make it automatic’
She had to create an automatic payment system that would transfer a portion of her paycheck into a dream account. Like he said ‘you can’t spend money you can access’
Lesson Three: Start living like a rich person right now
The last secret was simpler than the last two: Live financially free in the present day.
Remember the two dreams Zoey had? Well she shared them with Henry and he suggested she open two dream accounts, one for the photograph course and another one for the trips, so she could take the course within a 5-month period and then take a Radical Sabbatical to her comfort.
I am pretty poor with my finances from time to time, so this book is amazing for me. I truly learn a lot by reading it.
Put into action
There’s nothing I could tell you that the authors haven’t done yet.
Start to pay you every day, find the way of doing automatic and do all the things you ever wanted now.
You should consider this book if…
Every one of us has live a critical financial moment or can’t afford all the things we’d want so much. I strongly recommend this book to all the people out there struggling with their dreams and their economic situation, this book will turn your life upward.
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