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Summary of The Latte Factor 

4.7 . 1909 reviews

Short summary

“The Latte Factor” is an exceptionally simple and heartfelt lesson on personal finance management. New York Times bestselling authors David Bach and John David Mann, both outstanding specialists in finances, open their secrets to learning how to prioritize yourself and how to live rich. This tidbit tells the story of Zoey and her unlikely journey to self-discovery and financial freedom. Do you want to travel the world or pursue your hobby but think you can’t afford it? Read on to find out how to turn your problem around! “When you pay yourself first, what you’re really doing is putting yourself first.” ~ David Bach

Table of content

  • Summary of The Latte Factor
  • About the author
  • What is The Latte Factor about?
  • Who should read The Latte Factor
  • Topics in The Latte Factor
first key point

Find the course you want your life to take

Listen the first key point
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Zoey was an associate editor of a relatively famous travel magazine. She co-rented an apartment in Brooklyn and had to take the L train every day to get to the office in Lower Manhattan. On her way to work, she regularly visited a small but pleasant coffee shop called “Helena’s”. The interior of this haven was quite old-fashioned but tasteful, and most importantly, its walls were covered in beautiful photo prints of different sizes depicting various locations

One day, Zoey noticed one of the larger photo prints and couldn’t seem to get it out of her mind. The scene was of utmost calmness and serenity — a quaint seaside village at the golden hour, with a fishing boat crew readying for the day’s work in the foreground. There was something magically simple about it, and it made Zoey return to it in her mind, again and again.

During the same commute, another thing caught her mind as well. This time, it was a commercial. The picture showed a boat, not unlike the one in the photo print. The boat was stranded in the middle of a desert. Atop it was a bold message that stated if you don’t know in what direction you are going, you won’t end up where you want to.
If you don’t know where you’re going, you might not like where you end up. ~ David Bach
The print and the commercial deeply affected Zoey. She felt as if they were targeting her, taunting and provoking her. She started thinking about her life — did she know where she was going? Where was she going to end up? She felt as if she’d lost control of her life.
Be mindful of where your life is going at all times. It should lead to your primary purpose and goal.
Zoey realized that she had little time to truly live. Living from paycheck to paycheck, just barely scraping by and working punishing hours — that was what her life has become. Having heard about Zoey’s hardship with money and finance management, her boss Barbara gave her the strangest advice — to talk to Henry, the older man from the coffee shop that Zoey liked to frequent.

Little did she know that this new acquaintance was about to change her way of thinking and many of her living habits! The following chapters dive into the story of Zoey’s encounter and how it taught her to live rich.
second key point

You are already much richer than you think

Prompted by her boss’s advice, Zoey went to her favorite coffee shop 15 minutes earlier. Having bought her latte, she stood next to the photo that overtook all her thoughts. It was worth $1,200, a sum she could not afford. Pretty soon, an older man, Henry, approached her. He was charismatic and had good energy — an immediately likable person. Surprising Zoey with his straightforwardness, he said that if she could afford the latte she was drinking, she could certainly afford the photo print she very obviously liked.
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third key point

Earning even the largest amounts of money does not necessarily lead to wealth

fourth key point

The easier your saving system is, the more you’ll actually save

fifth key point

Turning your financial situation around is a matter of being honest with yourself

sixth key point

You must be clear on what you really want

seventh key point

Conclusion

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What is The Latte Factor about?

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Do you find yourself staring at your computer for long minutes, unaware of time slipping by? Do you enter a room and suddenly cannot remember why you stepped in the first place? Is it a herculean task for you to sit through ten pages of a book without reaching for your phone? If yes, your focus needs some work and fast.

Actually, yours is not a unique situation. Many adults like you have issues concentrating on a given task. However, in this fast-paced world of ours, you can’t afford to be not focused at all times. Thankfully, this article comes to your rescue! With the tips and tricks from Hyperfocus by Chris Bailey, you will get in the top percent of folks who have mastered the art of concentration.