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Pointers from Book: The Latte Factor~ David Bach & John David Mann.

Captivating story of Zoey Daniels packed with loads of beautiful anecdotes and financial life long lessons. Enjoy few of the pointers from these book, which could change your financial trajectory.

  1. If you don’t know where you’re going, you might not like where you end up.

  2. Where you stand, and what you see from there, is the key to putting together the right picture. That’s what creates the perspective you want.

  3. The strange truth is that earning more money—even outrageous amounts of money—does not necessarily lead to wealth. Because most people, when they earn more, simply spend more. Earnings are like the tide, you see, and your spending is like a boat. When the tide rises, the boat rises with it.

  4. What ‘pay yourself first’ means is that the first person who gets paid is you and you keep that money. In other words: you pay yourself the first hour of each day’s income. “Here’s a good rule of thumb: Keep your first hour’s worth of each day’s pay. An hour a day, in other words, of paying yourself first.” Most people don’t even come close. The average American saves less than 4 percent of what they earn. In other words, most of us work barely twenty minutes for ourselves. And one in five saves nothing at all—that is, they pay themselves zero.

  5. Stop living like "Big Hat, No Cattle". Its means - All show, and no real assets to back it up.

  6. Money is the biggest reason marriages fail, but it’s not money itself, and not even the lack of money. It’s the lack of talking about it and working it out together.

  7. The miracle of compound interest works both ways: If money saved and the interest on it can double or triple within few amounts of time. Debt can compound, too, and once it starts, it can grow pretty fast and get pretty scary.

  8. Most people think they have an income problem. They don’t. They have a spending problem. A healthy income is a thing of beauty. But chasing after the bigger dollar is not necessarily the solution to your money problems.

  9. The power of compound interest is as real as gravity. And for most people who’ve built financial security, that’s exactly how they did it: a dollar at a time. It doesn’t take a big stake to start with. What it takes is facing the reality of your situation and deciding to do something about it.

  10. Your wealth is exactly like your health. Your health doesn’t just happen; it’s not something that takes care of itself as you go through life. You can’t leave your health in someone else’s hands, and the same goes for your wealth. They’re both completely in your hands. No one else’s.

  11. When you pay yourself first and put that dollar—or ten dollars, or twenty-five dollars—toward buying a home, or a business, or stock in a business, or investing in your own future in any way, you are taking ownership of your life. Most people lease and loan their lives. Pay yourself first and make it automatic so that you’ll keep on doing it, month after month, year in and year out, and you own your life.

  12. The latte factor isn’t about being a penny-pincher or denying yourself. It’s about getting clear on what matters. It’s about the little daily extravagances and frivolities, whatever they may be—the five, ten, twenty dollars a day that you could just as easily redirect toward your own future. From spending on yourself to paying yourself first. It’s about giving up something small to get up to something big. The point isn’t that you can’t spend money. Of course you can, and you should. Life is to enjoy. You can buy yourself whatever things you truly want. A nice outfit, a dinner out, a show in town. As long as you ‘pay yourself first.

  13. The solution to your money problems isn’t more money; it’s new habits.

  14. The first two secrets: pay yourself first and make it automatic are the how parts. This is the why part - Figure out what matters and follow that. Live rich now. Not in some far-off future. Today is the moment.

You know how to make your dreams come true?

You buy them . . . a dollar at a time!!


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