The rich DO pay on their investments, its called a Capital Gains Tax, and that income in treated as part of the individuals overall income. They also pay real estate taxes on their homes, not just the middle class. The rish pay taxes on their jewelry in the form of Sales Tax. It may not be the same proportion of income as if a poor person bought the jewelry, but the poor person wouldn't be able to buy the jewelry in the first place. You should be thankful that the person who bought the jewelry created a market that now employs thousands of people, many of them lower and middle class.
And sure the rich only pay Social Security Tax on the first portion of their income, but the rich are also much less likely to draw from Social Security in the future because of two things. First, that to obtain the full benefit of Social Security you have to be retired. Second, because if you earn more than $25,000/yr single or $32,000/yr married, your Social Security income is taxed, as well. For the rich who've invested wisely, that means a benefit that was supposed to be guaranteed to them by the government for paying into the system is being taxed again. A double tax, really. Take my money from me once, say you are going to give it back later and then when you do, you take another cut.
That the poor pay more of their total incomes (as a percentage of income) in Sales Tax doesn't bother me at all. Effectively, the Sales Tax is the only tax that poor people pay. At least now they are contributing to the system they will likely draw from in the future.
I agree that we need to enjoy life and money is made and meant to be spent, but I think we have to be careful about the "latte factor". Consumers need to know how much that latte factor is costing them monthly and yearly. Some spend $3 a day on coffee which is $1,095 a year. Wow, this is just on coffee! I like coffee a lot, but being a consumer miser, I vowed not to buy coffee out (I admit that this is #9 on my list of extreme saving methods). Instead I have it at home or at work where we have a machine that brews free coffee for employees. Now, this coffee is not as great as my favorite Dunkin' Donuts coffee, but it’s so much cheaper. I also drink hot water instead of coffee because this is healthy and often free. On only rare occasions will I treat myself to a cup of coffee out.
this is very interesting to know the things that have some past history just like cheap international payments the people who are in touch with such work they can start training as ccna are available for technical persons.
Before we moved to France, we cut out the latte factor and saved up the cost of one plane ticket to Europe--that's not a negligable expense . . .However, you're right about latte's being nothing compared to some of the other expenses--like eating out. Now that we've become very, very frugal, our latte budget is back in. It's one of our few outings (and here in France, it would just feel weird not to go out to a cafe once in a while!) If you think about it, going out for coffee is so much cheaper than going out for dinner--so if that's our way of splurging, I say, no problem. Great post.
As you've indicated in this article, whether or not to cut out your particular individual 'latte factor' is a personal decision, and one that doesn't always need to be made.
I think the main benefit to come out of the wide spread acknowledgement of the latte factor is that people are now far more aware of how the small things can, and do, add up to a decent sum. This awareness means that people are that little bit more aware of how they may have ended up in the financial circumstances they are in (a lot of small costs for example), and they (will hopefully) also realise that it is a potential solution if they are looking to make some change.
Thanks zorcy. Ya I put some JB on the lid, but only on top and not underneth, so I think that should be ok. The solder has a good seal underneth, just gave it a shot of JB on top just to make it look good and smooth.
A TON of candy wrappers, cell phone, wallet, hand sanitizer, lotion, tissues, sanitary napkins, notebook/planner, class notebook, folder, leftover snacks, house keys, ID, chapstick
i have a netspend card and i love it i have no hassels no over draft fees & i can shop and pay bills and it clears imediately. i think this lady is over playing on this experience if u dont want it cut it up and trash it. yes u can have an opinion but was all this really necessary? and technically it isnt fraudulent they can get ur info from just about anywhere. like where u shop, clothing stores walmart kmart cvs and even from a hospital or doc office. i actually had a credit card sent to me when i called and asked how they got it and then had a lawyer involved they told us it was solicited by a doctors office through the payment center they used. ok so maybe u didnt apply for it but we all put our info out there without really allowing it. but what can u do. now days u cant use cash for everything there are places that wont take cash and u cant send cash in as payments by mail so keep things simple cut it up if u dont want it! every card has to be activated in order for it to create an account
I am one of those people with multiple "latte factors" which could - or arguably should - be cut from my budget. Just last year I joined an expensive upscale gym and hired a house cleaner to come every 3 weeks. I also actually buy lattes at 5 times a month, though alcoholic beverages are a true near daily expense for me (on average) that could be cut.
But the thing is that I'm saving over 20% of my gross income. So as much as I can't justify my exessive shopping/travel/dining expenses - I don't care to stress about cutting them out either. Sure I could save more - but what's the point anyway? Most people can't afford to splurge everywhere - I don't do all the spa/beauty stuff most girls do, and I have negligible entertainment expenses, and I spend very little on my car (which I've had for 4 years and dont' intend to replace anytime soon). But I think as long as you're saving in the double digits and have an emergency fund and no credit card debt, then splurge away - big or small!
Wallet (w/ ID and some credit cards and cash), chapstick, sunscreen, sunglasses, tums, travel tissues, foldable reusable grocery bag, keys, phone, book (right now it's omnivore's dilemna), a pen, and headphones.
Yes. And yes. One problem with "latte factor" cuts is that most people don't really track them. If you commit to sending $20/week to your savings account, then maybe you're making a difference. Without some conscious and concrete thinking like that, it becomes an exercise in futility and even deprivation.
Better to cultivate a lifestyle that's generally frugal and money-conscious and then enjoy the HECK out of your latte factor! :)
Thanks for this! I feel like some people have gotten so judgmental over everyone elses' latte factors and it's ridiculous.
The problem usually isn't *a* latte factor. It's when people have many latte factors, most of which don't even bring them that much happiness but that they don't question because they're just habit at this point.
I think every expense should be questioned, no matter how small, but that doesn't mean that they all get eliminated. Sometimes you have to cut back on some to reach your financial goals, sometimes you find replacements, sometimes you keep things as they are and just try to savor them all the more.
car key, reading glasses, small note pad, saline nasal spray, mirror, lipstick, chapstick, migraine medicine, OTC medications, hair clips and bands, comb, emery board, pen, small flashlight, nail clippers, eyebrow pencil, makeup tissue blotters, safety pins, wallet with small amount of cash, ID cards, credit cards, store cards, library cards, insurance cards, metro rail card....
Blackl search engine is far more advanced. Blackl search engine uses small data transfers to save more energy. Blackl search engine is also powered by renewable energy. It can also also display a real Google layout (the only one in the class being able to do it?). If we add to it that Blackl is available for over 50 countries it really makes all other websites look small. I prefer a white Google but people who I know that use a Black Google, all say Blackl is more advanced. Blackl can be found at Black Google. If anyone wants to compare Blackl to others feel free. I had a look at several ones and Blackl does seem to be better when it comes to search results layout.
In my purse I carry a pocketbook with cash, license credit cards, etc. Lip gloss, sunglasses, pen, tire pressure gauge, chapstick, hair barrett, pill box with medication, smart phone and keys.
I love that you're not advocating cutting out a small indulgence that makes you happy. It's only when a person has the habit of spending on several small indulgences that it really adds up. I agree that it's better to focus on reducing the prices of or eliminating bigger ticket items that really eat into a budget.
The rich DO pay on their investments, its called a Capital Gains Tax, and that income in treated as part of the individuals overall income. They also pay real estate taxes on their homes, not just the middle class. The rish pay taxes on their jewelry in the form of Sales Tax. It may not be the same proportion of income as if a poor person bought the jewelry, but the poor person wouldn't be able to buy the jewelry in the first place. You should be thankful that the person who bought the jewelry created a market that now employs thousands of people, many of them lower and middle class.
And sure the rich only pay Social Security Tax on the first portion of their income, but the rich are also much less likely to draw from Social Security in the future because of two things. First, that to obtain the full benefit of Social Security you have to be retired. Second, because if you earn more than $25,000/yr single or $32,000/yr married, your Social Security income is taxed, as well. For the rich who've invested wisely, that means a benefit that was supposed to be guaranteed to them by the government for paying into the system is being taxed again. A double tax, really. Take my money from me once, say you are going to give it back later and then when you do, you take another cut.
That the poor pay more of their total incomes (as a percentage of income) in Sales Tax doesn't bother me at all. Effectively, the Sales Tax is the only tax that poor people pay. At least now they are contributing to the system they will likely draw from in the future.
I agree that we need to enjoy life and money is made and meant to be spent, but I think we have to be careful about the "latte factor". Consumers need to know how much that latte factor is costing them monthly and yearly. Some spend $3 a day on coffee which is $1,095 a year. Wow, this is just on coffee! I like coffee a lot, but being a consumer miser, I vowed not to buy coffee out (I admit that this is #9 on my list of extreme saving methods). Instead I have it at home or at work where we have a machine that brews free coffee for employees. Now, this coffee is not as great as my favorite Dunkin' Donuts coffee, but it’s so much cheaper. I also drink hot water instead of coffee because this is healthy and often free. On only rare occasions will I treat myself to a cup of coffee out.
this is very interesting to know the things that have some past history just like cheap international payments the people who are in touch with such work they can start training as ccna are available for technical persons.
Before we moved to France, we cut out the latte factor and saved up the cost of one plane ticket to Europe--that's not a negligable expense . . .However, you're right about latte's being nothing compared to some of the other expenses--like eating out. Now that we've become very, very frugal, our latte budget is back in. It's one of our few outings (and here in France, it would just feel weird not to go out to a cafe once in a while!) If you think about it, going out for coffee is so much cheaper than going out for dinner--so if that's our way of splurging, I say, no problem. Great post.
Thanks Julie.. I like this.. You inspired me to do a powerpoint presentation of this so I can show to my staff the value of choosing the right path
by the way that isnt really gold and silver if u wiegh it u can see its fake
As you've indicated in this article, whether or not to cut out your particular individual 'latte factor' is a personal decision, and one that doesn't always need to be made.
I think the main benefit to come out of the wide spread acknowledgement of the latte factor is that people are now far more aware of how the small things can, and do, add up to a decent sum. This awareness means that people are that little bit more aware of how they may have ended up in the financial circumstances they are in (a lot of small costs for example), and they (will hopefully) also realise that it is a potential solution if they are looking to make some change.
Thanks zorcy. Ya I put some JB on the lid, but only on top and not underneth, so I think that should be ok. The solder has a good seal underneth, just gave it a shot of JB on top just to make it look good and smooth.
A TON of candy wrappers, cell phone, wallet, hand sanitizer, lotion, tissues, sanitary napkins, notebook/planner, class notebook, folder, leftover snacks, house keys, ID, chapstick
i have a netspend card and i love it i have no hassels no over draft fees & i can shop and pay bills and it clears imediately. i think this lady is over playing on this experience if u dont want it cut it up and trash it. yes u can have an opinion but was all this really necessary? and technically it isnt fraudulent they can get ur info from just about anywhere. like where u shop, clothing stores walmart kmart cvs and even from a hospital or doc office. i actually had a credit card sent to me when i called and asked how they got it and then had a lawyer involved they told us it was solicited by a doctors office through the payment center they used. ok so maybe u didnt apply for it but we all put our info out there without really allowing it. but what can u do. now days u cant use cash for everything there are places that wont take cash and u cant send cash in as payments by mail so keep things simple cut it up if u dont want it! every card has to be activated in order for it to create an account
Use small papers...
... and they're sinfully delicious. =)
I think Jason and the Captain will get along just fine.
I am one of those people with multiple "latte factors" which could - or arguably should - be cut from my budget. Just last year I joined an expensive upscale gym and hired a house cleaner to come every 3 weeks. I also actually buy lattes at 5 times a month, though alcoholic beverages are a true near daily expense for me (on average) that could be cut.
But the thing is that I'm saving over 20% of my gross income. So as much as I can't justify my exessive shopping/travel/dining expenses - I don't care to stress about cutting them out either. Sure I could save more - but what's the point anyway? Most people can't afford to splurge everywhere - I don't do all the spa/beauty stuff most girls do, and I have negligible entertainment expenses, and I spend very little on my car (which I've had for 4 years and dont' intend to replace anytime soon). But I think as long as you're saving in the double digits and have an emergency fund and no credit card debt, then splurge away - big or small!
Love the tip about zipping up hoodies! Never realized they might rough up my other clothes, but it make sense.
Wallet (w/ ID and some credit cards and cash), chapstick, sunscreen, sunglasses, tums, travel tissues, foldable reusable grocery bag, keys, phone, book (right now it's omnivore's dilemna), a pen, and headphones.
Yes. And yes. One problem with "latte factor" cuts is that most people don't really track them. If you commit to sending $20/week to your savings account, then maybe you're making a difference. Without some conscious and concrete thinking like that, it becomes an exercise in futility and even deprivation.
Better to cultivate a lifestyle that's generally frugal and money-conscious and then enjoy the HECK out of your latte factor! :)
Thanks for this! I feel like some people have gotten so judgmental over everyone elses' latte factors and it's ridiculous.
The problem usually isn't *a* latte factor. It's when people have many latte factors, most of which don't even bring them that much happiness but that they don't question because they're just habit at this point.
I think every expense should be questioned, no matter how small, but that doesn't mean that they all get eliminated. Sometimes you have to cut back on some to reach your financial goals, sometimes you find replacements, sometimes you keep things as they are and just try to savor them all the more.
That's why I NEVER buy giftcards online, specially without the actual card. Buyer be aware!
car key, reading glasses, small note pad, saline nasal spray, mirror, lipstick, chapstick, migraine medicine, OTC medications, hair clips and bands, comb, emery board, pen, small flashlight, nail clippers, eyebrow pencil, makeup tissue blotters, safety pins, wallet with small amount of cash, ID cards, credit cards, store cards, library cards, insurance cards, metro rail card....
Nice tip Nora! I wonder if Mint.com can muscle its way into this niche and use their huge library of aggregated spending data to do something similar.
Thanks! This post was VERY helpful!!!! :)
Blackl search engine is far more advanced. Blackl search engine uses small data transfers to save more energy. Blackl search engine is also powered by renewable energy. It can also also display a real Google layout (the only one in the class being able to do it?). If we add to it that Blackl is available for over 50 countries it really makes all other websites look small. I prefer a white Google but people who I know that use a Black Google, all say Blackl is more advanced. Blackl can be found at Black Google. If anyone wants to compare Blackl to others feel free. I had a look at several ones and Blackl does seem to be better when it comes to search results layout.
In my purse I carry a pocketbook with cash, license credit cards, etc. Lip gloss, sunglasses, pen, tire pressure gauge, chapstick, hair barrett, pill box with medication, smart phone and keys.
I love that you're not advocating cutting out a small indulgence that makes you happy. It's only when a person has the habit of spending on several small indulgences that it really adds up. I agree that it's better to focus on reducing the prices of or eliminating bigger ticket items that really eat into a budget.