Book Review | Part 2 | The Latte Factor by David Bach

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~ LIVE RICH NOW⁣ ~
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What I love about this book is that it's not only focused on money, but stressed more on the human habits and values that make money more valuable and the use of it more meaningful. It's told in a fictional story of a young woman Zoey who's stuck in a money trap unable to find a way out, which made reading it so much fun.⁣
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The author has shared three secrets to come out of this trap. ⁣
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1. Pay yourself first (saving for the future): Pay yourself the first hour of each day's income, which is roughly about 10% (atleast). This idea is not just about saving money but developing a mindset of putting yourself first by setting aside a certain amount for yourself before you pay to others. ⁣
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2. Don't budget - make it automatic: We have always been told to budget but the author here says dont. Inorder to develop a habit of saving, the author says its best to do away with the discipline of budgeting which is hard for most peopl to keep. He suggests setting up an automatic system to get the amount deposited to the account. Let it happen in the background and take the pressure off.⁣
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3. Live rich now (saving and spending for now/values): This is my favourite. You don't have to wait till you retire to live rich. Here the author talks about finding the values that matter, so that saving and spending money is purpose driven, towards something that you truly desire. ⁣
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But my biggest takeway is the latte factor. ⁣
Becoming aware and mindful of how you're spending money and redirecting your time, energy and money towards something that matters. It's about changing your habits and lifestyle to start working towards your goals. "The latte factor isn't about being a penny-pincher or denying yourself. It's about getting clear on what matters. It's about giving up something small to get up to something big." ⁣
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What are your values? Is the way you're handling money pushing you away or bringing you closer to these values? Are you living rich NOW?!!

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