Money Saving Challenge - Money Saving Ideas

Add The Latte Factor To My Lunch Box Factor

In a my recent post about the lunch box factor (Save £800 a Year With The Lunch Box Factor), I talked about my spin on the 'latte factor', the term used by David Bach for money spent on daily treats that could actually be saved and invested.

Well now I am back on track with the latte factor, swapping my daily commute latte with a flask of coffee, helping me to save £2.39 a day.

Over 48 working weeks, I should be saving myself a cool £573.60 per year.  Money that can be saved and invested.

Save £800 a Year With The Lunch Box Factor

Have you ever heard of the 'latte factor'?  This is the term that financial expert David Bach uses to describe our daily spend on little treats, such as a fresh latte and chocolate muffin.

Whilst £3 a day for a cup of coffee does not sound like much money, once you begin to add up the costs of your daily treat the bill soon starts to mount up:

£3 x 5 days = £15 per week

£15 x 4 = £60 per month

£60 x 12 = £720 per year

Rather than wasting their money on daily luxuries, David Bach recommends giving them up and saving or investing the money instead.

The Lunch Box Factor

The lunch box factor takes this approach one stage further.  Naturally you don't want to give up on having lunch each day, that would just leave you feeling hungry and depressed. Instead, packing your own lunch means you can have a healthy and satisfying meal for much less than a supermarket or cafe sandwich.

Say you are paying £4 a day for your lunch, that adds up to:

£4 x 5 days = £20 per week

£20 x 48 working weeks = £960

Minus the cost of your ingredients, you can still probably save around £800 per year.

So go ahead and get the lunch box factor

Cerial Box Shopping Lists and Notepads

Cutting up your old cerial boxes to use for notes and shopping lists makes a small, but helpful contribution to the environment and to your pocket!

Step 1 - Collect together your old cerial boxes

 

Step 2 - Use a pair of scizzors to cut your boxes up into notepads and shopping lists

 

Simple as that!!!