Title: Smart Savings: Embracing the “Latte Habit”
If you’re new to budgeting, you might’ve heard about the so-called “latte factor.” It’s basically the small regular expense you indulge in, multiplied by how often you do it. For example, if you’re grabbing coffee from Starbucks every day before work, that could add up to about $1300 in a year.
That’s a decent chunk of change! Now, if you’re struggling financially, these little expenses can make a big difference. Often, cutting these out can help balance the budget. But, what if you can’t give up your latte habit, or you just don’t want to?
Confession: I love Starbucks. I’m not there every day, but I am a regular. And I’m not just getting a normal coffee, I’m all about the fancier, pricier options.
So here’s a new idea: make peace with your “latte factor”. That doesn’t mean being reckless, but rather being smart: buying what you want, but doing it strategically.
How? Try out gift card swapping and reselling websites.
Sites like Raise.com make it possible for others to sell unwanted gift cards and for people like me to buy a $100 Starbucks card for $78. And voila, I’ve just saved the price of four coffees!
Not into coffee? Don’t worry, these sites aren’t just about Starbucks. You can find gift cards for most products or services you regularly spend money on. Lip gloss, clothes, books, movie tickets – you name it.
The key point here isn’t to encourage reckless spending. Instead, it’s about finding smart ways to save on things you’d buy anyway. Sure, fronting $78 might seem extreme at first, but the savings over the long term will have you feeling like a budgeting genius.
Even better, this trick can work not only for your daily beverage habit but also for clothes, groceries, and anything else if you have favorite stores. The key lies in preparation.
Give it a go! After all, those cinnamon dolce lattes are worth the strategic splurge.