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The Latte Factor: Why You Don't Have to Be Rich to Live Rich
“A three-step process to financial freedom” from the #1 New York Times–bestselling author of The Automatic Millionaire (Jon Gordon, bestselling author of The Energy Bus).Drawing on the David Bach’s experiences teaching millions of people around the world to live a rich life, this fast, easy read reveals how anyone—from zillennials to baby boomers—can still make his or her dreams come true.In this compelling, heartwarming parable, Bach and his bestselling coauthor John David Mann (The Go-Giver) tell the story of Zoey, a twenty-something woman living and working in New York City. Like many young professionals, Zoey is struggling to make ends meet under a growing burden of credit card and student loan debt, working crazy hours at her dream job but still not earning enough to provide a comfortable financial cushion. At her boss’s suggestion, she makes friends with Henry, the elderly barista at her favorite Brooklyn coffee shop.Henry soon reveals his “Three Secrets to Financial Freedom,” ideas Zoey dismisses at first but whose true power she ultimately comes to appreciate. Over the course of a single week, Zoey discovers that she already earns enough to secure her financial future and realize her truest dreams—all she has to do is make a few easy shifts in her everyday routine.The Latte Factor demystifies the secrets to achieving financial freedom, inspiring you to realize that it’s never too late to reach for your dreams, proving once again that “David Bach is the financial expert to listen to when you’re intimidated by your finances” (Tony Robbins, #1 New York Times–bestselling author).
161 pages, Kindle Edition
Published May 7, 2019
656 people are currently reading
6463 people want to read
About the author
David Bach
69 books336 followersDavid L. Bach is an American financial author, television personality, motivational speaker, entrepreneur and founder of FinishRich.com. Bach, is best known for his Finish Rich Book Series and Automatic Millionaire Series of motivational financial books under the Finish Rich Brand. He has written 12 books since 1998 with over seven million copies in print.
Eleven of Bach's books have been national bestsellers, including nine consecutive New York Times bestsellers, two of which were consecutive #1 New York Times bestsellers (The Automatic Millionaire and Start Late, Finish Rich). Bach has had four of his books Smart Women Finish Rich, Smart Couples Finish Rich, The Automatic Millionaire and The Finish Rich Workbook appear simultaneously on the Wall Street Journal, BusinessWeek, and USA Today bestseller lists. Eleven of Bach's books have been published from Random House (Broadway Books).
Bach's first book Smart Women Finish Rich was published in 1998, and appeared on the bestseller lists for a decade. His most recent book Debt Free For Life (2011) was published by Crown Business Books, and appeared simultaneously on the New York Times, Wall Street Journal and USA Today bestseller lists.
Bach has appeared regularly on television dispensing his financial advice since 1994. His first appearance on television took place in San Francisco, on local cable channel BayTV, where he was "The Money Doctor", and answered personal financial questions.
He was a regular contributor to The Today Show, appearing weekly on the Money 911 Segments. He also has contributed to CNN American Morning, CNBC, Fox Business, ABC Good Money, and The Oprah Winfrey Show. He has appeared on The Oprah Winfrey Show over six times, including the shows "How to become an Automatic Millionaire" (2004), "How to become an Automatic Millionaire Couple" (2004) and "Oprah's Debt Diet Series" (2006). Bach has appeared on CBS's The Early Show, NBC's Weekend Today, CNN's Larry King Live, ABC's Live with Regis and Kelly, and ABC's The View.
Bach has written, produced and hosted two public television specials, Smart Women Finish Rich and The Automatic Millionaire, which aired nationally. Smart Women Finish Rich was produced by Connecticut Public Television (1998) and The Automatic Millionaire by Chicago Public Television (2006). He has hosted two radio shows, Finish Rich with David Bach (Sirius Satellite Radio) and The Finish Rich Minute (Westwood One).
Eleven of Bach's books have been national bestsellers, including nine consecutive New York Times bestsellers, two of which were consecutive #1 New York Times bestsellers (The Automatic Millionaire and Start Late, Finish Rich). Bach has had four of his books Smart Women Finish Rich, Smart Couples Finish Rich, The Automatic Millionaire and The Finish Rich Workbook appear simultaneously on the Wall Street Journal, BusinessWeek, and USA Today bestseller lists. Eleven of Bach's books have been published from Random House (Broadway Books).
Bach's first book Smart Women Finish Rich was published in 1998, and appeared on the bestseller lists for a decade. His most recent book Debt Free For Life (2011) was published by Crown Business Books, and appeared simultaneously on the New York Times, Wall Street Journal and USA Today bestseller lists.
Bach has appeared regularly on television dispensing his financial advice since 1994. His first appearance on television took place in San Francisco, on local cable channel BayTV, where he was "The Money Doctor", and answered personal financial questions.
He was a regular contributor to The Today Show, appearing weekly on the Money 911 Segments. He also has contributed to CNN American Morning, CNBC, Fox Business, ABC Good Money, and The Oprah Winfrey Show. He has appeared on The Oprah Winfrey Show over six times, including the shows "How to become an Automatic Millionaire" (2004), "How to become an Automatic Millionaire Couple" (2004) and "Oprah's Debt Diet Series" (2006). Bach has appeared on CBS's The Early Show, NBC's Weekend Today, CNN's Larry King Live, ABC's Live with Regis and Kelly, and ABC's The View.
Bach has written, produced and hosted two public television specials, Smart Women Finish Rich and The Automatic Millionaire, which aired nationally. Smart Women Finish Rich was produced by Connecticut Public Television (1998) and The Automatic Millionaire by Chicago Public Television (2006). He has hosted two radio shows, Finish Rich with David Bach (Sirius Satellite Radio) and The Finish Rich Minute (Westwood One).
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Displaying 1 - 30 of 1,005 reviews
April 23, 2019
Thank you to NetGalley and the publisher for providing me with an advanced copy of this book in exchange for an honest review.
Honestly, I wanted to throw this book out a window. The bones of good financial advice are there — invest for retirement, prioritize what matters, pay yourself first — but the execution is gendered, plays into harmful stereotypes, and also potentially toxic.
This book is about a young girl named Zoey who has, gosh darn it, just never been good at money. She works for a travel magazine but has no money to travel. One day, after randomly contemplating the 9/11 Memorial on her way to work (?), she has lunch with her boss, Barbara (a boring, non-fashionable woman who brings her lunch). Barbara tells her to talk to Henry, the guy at the coffee shop Zoey goes to each morning.
What ensues is a week of Zoey learning valuable life and financial lessons from a 70-year-old man (that she just can't put her finger on it, but man, he's just so likeable, what could it be, could it be that a MAN wrote this book and this is how he would like to think young women look at old men??). He's apparently a human calculator (contrasting nicely with Zoey's inexplicable inability to do math) and can calculate the effect of 10% returns on $5 a day in his head. He also does weird things like holding onto her hands and staring into her eyes as she's trying to leave to tell her that she can change her destiny by paying herself first.
I could go on and on. I highlighted so many creepy and sexist sentences. Yes, stereotypes exist for a reason, but playing into them like this is NOT the way to address them.
Now let's talk about the idea that giving up your daily latte can make you a millionaire by the time you retire. UM, NO. Maybe giving up your coffee can help you save for a vacation, but you only have one coffee — that one coffee isn't going to solve all your financial problems. The book tries to address this by saying it's a metaophor; it's not about depriving yourself, it's about giving up what you don't really need in service of your future self. Well, I completely agree with that. But not by making people question every single latte they buy. That just breeds guilt.
Also, what about the people who come from less privilege who legitimately cannot buy lattes? What's your magic pill for them? ALSO ALSO, just the idea of "give up your daily latte" is inherently gendered advice. Men don't usually buy lattes because society has told them it isn't manly to do so. So do you tell those tech bros to give up their Friday six-pack of beer? I didn't think so.
Ultimately, this was creepy and oversimplified and tone-deaf and problematic.
Honestly, I wanted to throw this book out a window. The bones of good financial advice are there — invest for retirement, prioritize what matters, pay yourself first — but the execution is gendered, plays into harmful stereotypes, and also potentially toxic.
This book is about a young girl named Zoey who has, gosh darn it, just never been good at money. She works for a travel magazine but has no money to travel. One day, after randomly contemplating the 9/11 Memorial on her way to work (?), she has lunch with her boss, Barbara (a boring, non-fashionable woman who brings her lunch). Barbara tells her to talk to Henry, the guy at the coffee shop Zoey goes to each morning.
What ensues is a week of Zoey learning valuable life and financial lessons from a 70-year-old man (that she just can't put her finger on it, but man, he's just so likeable, what could it be, could it be that a MAN wrote this book and this is how he would like to think young women look at old men??). He's apparently a human calculator (contrasting nicely with Zoey's inexplicable inability to do math) and can calculate the effect of 10% returns on $5 a day in his head. He also does weird things like holding onto her hands and staring into her eyes as she's trying to leave to tell her that she can change her destiny by paying herself first.
I could go on and on. I highlighted so many creepy and sexist sentences. Yes, stereotypes exist for a reason, but playing into them like this is NOT the way to address them.
Now let's talk about the idea that giving up your daily latte can make you a millionaire by the time you retire. UM, NO. Maybe giving up your coffee can help you save for a vacation, but you only have one coffee — that one coffee isn't going to solve all your financial problems. The book tries to address this by saying it's a metaophor; it's not about depriving yourself, it's about giving up what you don't really need in service of your future self. Well, I completely agree with that. But not by making people question every single latte they buy. That just breeds guilt.
Also, what about the people who come from less privilege who legitimately cannot buy lattes? What's your magic pill for them? ALSO ALSO, just the idea of "give up your daily latte" is inherently gendered advice. Men don't usually buy lattes because society has told them it isn't manly to do so. So do you tell those tech bros to give up their Friday six-pack of beer? I didn't think so.
Ultimately, this was creepy and oversimplified and tone-deaf and problematic.
August 5, 2021
Q:
If you don’t know where you’re going, you might not like where you end up. (c)
For the purpose of full disclaimer: I HATE this particular genre subgenre: the novelized parable of some self-help morale booster. I hate to hate these books since they usually are written as bad novels with a lot of 'thinking' and 'depth' and some sorta wize-ass guy (usually!) who teaches the hell out of some youngish dupe who just never got the life manual (but is getting the gist of ot from the wize-ass during the course of the whole story).
So... I have been making a point to steer the hell clear of such books since.... a very long time ago.
This time around I sort of was distracted and wound up reading just such a book but not a horrible parable (see above), not at all. I would up loving this read: it's nowhere worse than all those contempoary novels we all sometimes read and it's got a nice flow, agreeable characters, sensible thinking going, some catchy ideas and is .... uplifting!
So, either my sabbatical from such lit got my palated properly cleansed or this one really is a great read.
Q:
If you don’t know where you’re going, you might not like where you end up. (c)
For the purpose of full disclaimer: I HATE this particular genre subgenre: the novelized parable of some self-help morale booster. I hate to hate these books since they usually are written as bad novels with a lot of 'thinking' and 'depth' and some sorta wize-ass guy (usually!) who teaches the hell out of some youngish dupe who just never got the life manual (but is getting the gist of ot from the wize-ass during the course of the whole story).
So... I have been making a point to steer the hell clear of such books since.... a very long time ago.
This time around I sort of was distracted and wound up reading just such a book but not a horrible parable (see above), not at all. I would up loving this read: it's nowhere worse than all those contempoary novels we all sometimes read and it's got a nice flow, agreeable characters, sensible thinking going, some catchy ideas and is .... uplifting!
So, either my sabbatical from such lit got my palated properly cleansed or this one really is a great read.
Q:
September 11, 2019
This is a fiction-style book with the purpose of sharing advice on how to save money and become rich.
While I did gleam a couple of tips that I'll be putting into practice, unfortunately I found the MC irritatingly thick and the people giving advice incredibly patronizing (" I know you wouldn't really understand this, you're only in your twenties"... um, okay...). That being said , the MC was so stupid and lacking in even the most basic financial literacy that this was probably necessary. She doesn't seem to realise that automatic payments are a thing, and doesn't understand what this "latte factor" people keep ranting about (while saying how saving $5 a day with compound interest adds up over time, and literally crunching numbers on it!)could possibly be (later she talks about the three coffees she buys everyday. Also, lets just ignore the fact that coffee buying is something older generations are on millennials' backs for ALL THE TIME).
This aside, I do understand this is a book to inform, not entertain with amazing plot or characters. And yes, I did glean a couple of tips/ reminders from it :; many however seemed out of touch with the people hes trying to address , and others out of touch with reality as a whole . All in all I do understand that this book was a quick snapshot of tips and not supposed to be in depth, so room should be made for that. There's enough over-explanation in here not to add in explaining that there isn't really a one size fits all finance solution.
I can see this book being useful to someone with very little (like, close to zero) financial literacy, or maybe a teenager starting to think about what their relationship with finance as an adult may look like.
I suppose in summary, I think this book just needs a bit of an edit, making the characters less ridiculous and prioritizing what does and doesn't need explanation . I am grateful as I've mentioned for the reminders on prioritising savings and things that are important to me in life.
While I did gleam a couple of tips that I'll be putting into practice, unfortunately I found the MC irritatingly thick and the people giving advice incredibly patronizing (" I know you wouldn't really understand this, you're only in your twenties"... um, okay...). That being said , the MC was so stupid and lacking in even the most basic financial literacy that this was probably necessary. She doesn't seem to realise that automatic payments are a thing, and doesn't understand what this "latte factor" people keep ranting about (while saying how saving $5 a day with compound interest adds up over time, and literally crunching numbers on it!)could possibly be (later she talks about the three coffees she buys everyday. Also, lets just ignore the fact that coffee buying is something older generations are on millennials' backs for ALL THE TIME).
This aside, I do understand this is a book to inform, not entertain with amazing plot or characters. And yes, I did glean a couple of tips/ reminders from it :; many however seemed out of touch with the people hes trying to address , and others out of touch with reality as a whole . All in all I do understand that this book was a quick snapshot of tips and not supposed to be in depth, so room should be made for that. There's enough over-explanation in here not to add in explaining that there isn't really a one size fits all finance solution.
I can see this book being useful to someone with very little (like, close to zero) financial literacy, or maybe a teenager starting to think about what their relationship with finance as an adult may look like.
I suppose in summary, I think this book just needs a bit of an edit, making the characters less ridiculous and prioritizing what does and doesn't need explanation . I am grateful as I've mentioned for the reminders on prioritising savings and things that are important to me in life.
June 27, 2019
As an intelligent, grown up woman reading a book about finance (even a short, simple parabola like this one, that I expected to be super simplified), I felt insulted. Sexist and full of old, destructive stereotypes.
I understand that the author is trying to do good here. Sharing good advice and trying to help people that are struggling with the basics of money management. It is supposed to be for beginners and suitable for anyone, very simple language, didactic, all that. And it does have good simple advice for beginners. But it is more patronising than helpful.
It feels like the author thinks that everyone that doesn’t know what he is ‘teaching’ here has to be super dumb, therefore needs to be treated like one.
The 27-year-old lady that you’re supposed to connect with if you’re looking to learn something here looks like a clueless child in relation to money and her interactions with people. Every little thing she is taught (because that is the only way she could learn something, of course!) seems like the most incredible thing anyone could ever think of, even when they are quite obvious given the context.
It is interesting, as she seems quite successful at her job, which suggests that she is not as dumb as her thoughts or conversations show. But.. hey, about money? Completely brainless.
Also, of course she is a woman. And gets advice from a wise old man.
I understand that we still live in a world where women are less stimulated to take real ownership of their financial lives and as a consequence struggle more with money management, but to describe adult woman in an infantilised and idiotic way doesn't really help fix that, let alone connect with them.
The regular 27-year-old woman may not be great at saving and investing, like most people in the world (man AND woman), but it doesn't make them stupid or incapable of understanding things without being taught like children. If that is the way you want to teach your techniques, at least use a child as your main character and leave the adult woman alone.
I understand that the author is trying to do good here. Sharing good advice and trying to help people that are struggling with the basics of money management. It is supposed to be for beginners and suitable for anyone, very simple language, didactic, all that. And it does have good simple advice for beginners. But it is more patronising than helpful.
It feels like the author thinks that everyone that doesn’t know what he is ‘teaching’ here has to be super dumb, therefore needs to be treated like one.
The 27-year-old lady that you’re supposed to connect with if you’re looking to learn something here looks like a clueless child in relation to money and her interactions with people. Every little thing she is taught (because that is the only way she could learn something, of course!) seems like the most incredible thing anyone could ever think of, even when they are quite obvious given the context.
It is interesting, as she seems quite successful at her job, which suggests that she is not as dumb as her thoughts or conversations show. But.. hey, about money? Completely brainless.
Also, of course she is a woman. And gets advice from a wise old man.
I understand that we still live in a world where women are less stimulated to take real ownership of their financial lives and as a consequence struggle more with money management, but to describe adult woman in an infantilised and idiotic way doesn't really help fix that, let alone connect with them.
The regular 27-year-old woman may not be great at saving and investing, like most people in the world (man AND woman), but it doesn't make them stupid or incapable of understanding things without being taught like children. If that is the way you want to teach your techniques, at least use a child as your main character and leave the adult woman alone.
June 6, 2019
Read in about two hours. A lot of fluff to explain three principles - this would be good for a teenager just learning about money management.
June 1, 2019
Do not bother with this book. It is poorly written and seems like a money magazine article that someone tried to stretch into a book. There are many other books on saving that are much better than this.
June 13, 2019
Mercifully it was a short read and I'm also glad I checked it out from the library instead of spending my latte money on it.
May 15, 2019
It's not really a book, more like a Sophie's World of Finance for Dummies (or what you should have learned in Economics class in high-school).
It's OK if you really don't know that retirement accounts exist for a reason (so you can retire when you can't work any more, get it?) and that using credit cards and taking out loans for things you don't need is a bad idea. It doesn't really explain anything, so you can't learn more than an excel sheet will tell you.
Maybe there are people in the US who have no idea that drinking expensive coffee and eating lunch in a restaurant every day uses up a lot of their personal income that doesn't go towards paying off loans. Now I'm just glad that in Europe we don't have a choice and contribute by default to at least a public retirement fund (plus all the private ones we can afford). I never thought I could be a millionaire, but it seems like if I follow my common sense, I may one day be one.
To conclude, don't read this book unless you are really helpless and you hate money (so much that you can't make it stick to your wallet long enough to get you your own home and life in order).
It's OK if you really don't know that retirement accounts exist for a reason (so you can retire when you can't work any more, get it?) and that using credit cards and taking out loans for things you don't need is a bad idea. It doesn't really explain anything, so you can't learn more than an excel sheet will tell you.
Maybe there are people in the US who have no idea that drinking expensive coffee and eating lunch in a restaurant every day uses up a lot of their personal income that doesn't go towards paying off loans. Now I'm just glad that in Europe we don't have a choice and contribute by default to at least a public retirement fund (plus all the private ones we can afford). I never thought I could be a millionaire, but it seems like if I follow my common sense, I may one day be one.
To conclude, don't read this book unless you are really helpless and you hate money (so much that you can't make it stick to your wallet long enough to get you your own home and life in order).
May 23, 2019
Thank you to netgalley for the free copy of this week in exchange for an honest review.
In general, it has solid financial advice (pay yourself first, don’t budget—make it automatic, live rich now). HOWEVER, I felt like I was being #mansplained throughout this. The girl, Zoey, has never been good at money. She meets a guy named Henry who apparently IS good at money. He gives her some financial advice that she apparently could not have figured out her own. Essentially, this book is focused on a man explaining to a woman why we aren’t good with money (just skip your latte!) and that we should invest in the stock market instead.
In general, it has solid financial advice (pay yourself first, don’t budget—make it automatic, live rich now). HOWEVER, I felt like I was being #mansplained throughout this. The girl, Zoey, has never been good at money. She meets a guy named Henry who apparently IS good at money. He gives her some financial advice that she apparently could not have figured out her own. Essentially, this book is focused on a man explaining to a woman why we aren’t good with money (just skip your latte!) and that we should invest in the stock market instead.
July 30, 2019
What I love the most about this book is that the idea is so simple yet practical. It just shows you how you can live rich now and get rich later. I know many people will doubt it but to me it doesn't hurt to follow this book's advice. Read it, it will take only several hours since it is very short one.
July 6, 2019
This was a couple hundred pages of fluff that could’ve essentially been condensed down into 3 bullet points that were nothing unique or particularly insightful.
June 5, 2019
I am not big on non-fiction, self-help books reading.
This one intrigued me, yeah mostly because of the subtitle 'Why you don't have to be rich to live rich'
I had to pick it up.
Now, this wasn't like any non-fiction book or well the ones I have read. It is basically fiction with lessons and suggestions through and through. That is what got me intrigued and helped me to continue reading the book.
Now my problem with most self-help books is that they advertise a problem on the cover one picks it up in the hopes of finding a solution and when they start reading, they generally tell that the solution is out there somewhere in the horizon and we will get to it but let's talk about the problem first, which goes on for almost half the book. Then there is some solution to it with a website attached, where you go and check and then you have to spend more money in hopes of finding a solution because talking about that problem so much has made me believe it is the end of the world.
HATE THAT.
There are also some books which give you a solution but then you don't know and you think you can't put them in practice.
This book, on the other hand, will take you through a story of a girl who will face the problems that you are facing, ask the questions that might pop in your head and in the end she will also question the same thing- good solution but how do I do it? I am not accustomed to it and the author provides with a solution to that-- and that is the part I loved.
I was able to relate and then put my plan of action in place.
I was able to take away from the book!
This one intrigued me, yeah mostly because of the subtitle 'Why you don't have to be rich to live rich'
I had to pick it up.
Now, this wasn't like any non-fiction book or well the ones I have read. It is basically fiction with lessons and suggestions through and through. That is what got me intrigued and helped me to continue reading the book.
Now my problem with most self-help books is that they advertise a problem on the cover one picks it up in the hopes of finding a solution and when they start reading, they generally tell that the solution is out there somewhere in the horizon and we will get to it but let's talk about the problem first, which goes on for almost half the book. Then there is some solution to it with a website attached, where you go and check and then you have to spend more money in hopes of finding a solution because talking about that problem so much has made me believe it is the end of the world.
HATE THAT.
There are also some books which give you a solution but then you don't know and you think you can't put them in practice.
This book, on the other hand, will take you through a story of a girl who will face the problems that you are facing, ask the questions that might pop in your head and in the end she will also question the same thing- good solution but how do I do it? I am not accustomed to it and the author provides with a solution to that-- and that is the part I loved.
I was able to relate and then put my plan of action in place.
I was able to take away from the book!
April 5, 2019
The Latte Factor is the book I wish was available when I started reading money books. While David Bach's Latte Factor theory is not new, this is the first book of his that focus on that strategy with some short mentions of the other things that was discussed in Mr. Bach's other books such as The Automatic Millionaire.
The Latte Factor is the perfect first book for people who want to learn financial literacy or it can be refresher to those who have already read a money book or two.
The Latte Factor is the perfect first book for people who want to learn financial literacy or it can be refresher to those who have already read a money book or two.
May 28, 2024
I skimmed quickly and found it to have a few great tips: Pay yourself first, invest in a 401K, own your properties, and live richly now. Also, a little about putting money into what you love and don't waste too much on takeout, coffee drinks, and other basic frugal ideas.
Cheesy little book and a quick read. Good points.
Cheesy little book and a quick read. Good points.
May 10, 2019
UGH. So. Much. Mansplaining.
Let's not even discuss Bach's long-documented inability to generate believable numbers. It was optimistic 20 years ago, now he just looks like an idiot.
Let's not even discuss Bach's long-documented inability to generate believable numbers. It was optimistic 20 years ago, now he just looks like an idiot.
May 25, 2019
A waste of time unless you legitimately have no clue about your finances. The same common sense advice, repackaged and told in a drawn out story with fictional characters.
February 6, 2020
Did anyone else hate this book as much as I did? It's no surprise that David Bach and John David Mann both happen to be Baby Boomer white men. Good God, I'm shocked they actually had the gall to frame their message as some sort of allegorical impartition of wisdom to a doe-eyed, twenty-something, latte-chugging woman.
I'm horrified to see young women portrayed as this money-stupid, and I'm even more horrified to read them being "made smarter" by some older white men. I wonder what Jean Chatzky and my other money gurus think of this book.
Boiled down:
1. Stop drinking $5 lattes and eating $10-15 lunches each day.
2. Keep your eye on big goals.
3. Save automatically / "pay yourself first."
Simple enough. This book didn't require a Starbucksy narrative to draw me in, either-- wish Bach had assumed that level of intelligence among his readers. Wasn't this a best-seller? SMH.
I'm horrified to see young women portrayed as this money-stupid, and I'm even more horrified to read them being "made smarter" by some older white men. I wonder what Jean Chatzky and my other money gurus think of this book.
Boiled down:
1. Stop drinking $5 lattes and eating $10-15 lunches each day.
2. Keep your eye on big goals.
3. Save automatically / "pay yourself first."
Simple enough. This book didn't require a Starbucksy narrative to draw me in, either-- wish Bach had assumed that level of intelligence among his readers. Wasn't this a best-seller? SMH.
January 9, 2024
This would be a decent read for those who know nothing about money. If you spend willy nilly and think that there is no way you can get ahead in life, then this book is for you. This book is written like a fiction story - it's almost dubbed down TOO much that I was slightly irritated at times with how long it took to get to the point, or how often a point was repeated over and over.
I do agree that a lot of money problems come from the fact that no matter how much you make, you always find something to spend it on - hence always feeling like you aren't making enough. However, that isn't always the case, and there is such a thing as not having enough income, period. Especially in today's economy, things are much more expensive than three years ago.
There were definitely a few tips I found handy, but alot of this book was common sense. I'd like to read something a bit more in depth.
I do agree that a lot of money problems come from the fact that no matter how much you make, you always find something to spend it on - hence always feeling like you aren't making enough. However, that isn't always the case, and there is such a thing as not having enough income, period. Especially in today's economy, things are much more expensive than three years ago.
There were definitely a few tips I found handy, but alot of this book was common sense. I'd like to read something a bit more in depth.
April 8, 2023
Une belle petite histoire facile à lire si tu souhaites prendre soin de tes finances et te sentir libre. C’est assez de base, mais c’est ce qui le rend si bon !
January 27, 2024
Iako praktikujem da utiske o knjizi napišem na jeziku na kom sam je pročitala, ovde ću napraviti izuzetak, za slučaj da neko sa prostora Balkana poželi da pročita ovu knjigu, a odbiju ga negativne recenzije stranaca.
Ni za jednu knjigu nisam pročitala više recenzija nego za ovu (nakon što sam je i sama pročitala). Moguće da je prosečnom Amerikancu ova knjiga krajnje dosadna i bez ikakve koristi jer se sve napisano u njoj (kako oni kažu) uči još u srednjoj školi, ali meni je sve iz knjige bilo potpuna novina. U Srbiji se ne uči o novcu, upravljanju novcem, štednji ili ulaganju u srednjoj školi, osim ako možda nije ekonomska.
The Latte Factor je roman, koji na veoma prizeman način jednom potpunom laiku, poput mene, objašnjava i crta "lakoću" sa kojom se može štedeti, kao i koji su benefiti iste. Apsolutno je nerealno očekivati da se brojke i sume spomenute u knjizi preslikaju na mogućnosti ljudi u Srbiji, ali je glavna tema i poenta ove knjige i te kako primenljiva. Pogotovo za freelancer-a kao što sam ja, informacije iz knjige su poučne. Mene su navele da iz drugog ugla pogledam štednju i penziju, da razmislim o ulaganju i investiranju, a pri tom se autori nisu služili izrazima koje ne razumem, već su na veoma "narodskom" jeziku sve predivno opisali.
Knjiga ima svega 140-150 stranica, puna je praktičnih primera i tabela na kraju knjige koji vam jasno pokazuju štednju, kamate i dobijen iznos novca nakon 5-10-40 godina. Ukoliko ne znate ništa o ekonomiji i finansijama, ukoliko želite da saznate nešto više, ali ne znate odakle da krenete, moj savet vam je da pročitate ovu knjigu. Oduzeće vam svega 2-3h života, a mislim da može da bude poučna i korisna. Ako ništa drugo, David Bach je snimio dva intervjua sa Marie Forleo, ima i svoj YT kanal, pa prvo pogledajte njih, pa rešite da li biste pročitali knjigu. Svakako, meni nije žao što sam je pročitala i već sam je prosledila dalje da je i drugi čitaju
Ni za jednu knjigu nisam pročitala više recenzija nego za ovu (nakon što sam je i sama pročitala). Moguće da je prosečnom Amerikancu ova knjiga krajnje dosadna i bez ikakve koristi jer se sve napisano u njoj (kako oni kažu) uči još u srednjoj školi, ali meni je sve iz knjige bilo potpuna novina. U Srbiji se ne uči o novcu, upravljanju novcem, štednji ili ulaganju u srednjoj školi, osim ako možda nije ekonomska.
The Latte Factor je roman, koji na veoma prizeman način jednom potpunom laiku, poput mene, objašnjava i crta "lakoću" sa kojom se može štedeti, kao i koji su benefiti iste. Apsolutno je nerealno očekivati da se brojke i sume spomenute u knjizi preslikaju na mogućnosti ljudi u Srbiji, ali je glavna tema i poenta ove knjige i te kako primenljiva. Pogotovo za freelancer-a kao što sam ja, informacije iz knjige su poučne. Mene su navele da iz drugog ugla pogledam štednju i penziju, da razmislim o ulaganju i investiranju, a pri tom se autori nisu služili izrazima koje ne razumem, već su na veoma "narodskom" jeziku sve predivno opisali.
Knjiga ima svega 140-150 stranica, puna je praktičnih primera i tabela na kraju knjige koji vam jasno pokazuju štednju, kamate i dobijen iznos novca nakon 5-10-40 godina. Ukoliko ne znate ništa o ekonomiji i finansijama, ukoliko želite da saznate nešto više, ali ne znate odakle da krenete, moj savet vam je da pročitate ovu knjigu. Oduzeće vam svega 2-3h života, a mislim da može da bude poučna i korisna. Ako ništa drugo, David Bach je snimio dva intervjua sa Marie Forleo, ima i svoj YT kanal, pa prvo pogledajte njih, pa rešite da li biste pročitali knjigu. Svakako, meni nije žao što sam je pročitala i već sam je prosledila dalje da je i drugi čitaju
May 18, 2019
I get where this book was going, and the financial advice was good for someone like me who doesn't know the first thing about investing. The story was just so cartoony that I felt silly listening to it. I'm not even that much older than the target audience of the 27-year old woman. I just felt like the book treated me like I was a big dummy - which I kind of am on this topic, but I still don't appreciate being talked to as such.
Yet I found myself adding another of Bach's books to my "to read" list. I guess it isn't all bad!
Yet I found myself adding another of Bach's books to my "to read" list. I guess it isn't all bad!
May 29, 2019
Condescending. Just read Sallie Krawcheck and Ellevest articles. This is frustrating because the idea behind the book is solid: use your money to bring you joy.
November 30, 2021
I could really only recommend this to people who know absolutely nothing about money. Or to people who just really loved The 5AM club, The Richest Man in Babylon, and Rich Dad Poor Dad. If you prefer financial advice to be spoon fed to you in story format and you have no idea what a 401k is, here you go.
April 22, 2022
داستان در قالب دختریه که در نیویورک شاغله اما از درآمد و زندگیش راضی نیست و با هنری صاحب کافهای آشنا میشه و هنری بهش نکات خوبی درباره لزوم پسانداز، سرمایهگذاری و تاثیرش در بلندمدت مدت میگه.
به نظرم همه آدمها باید هوش اقتصادی داشته باشن تا بتونن از گس مخارج زندگی بربیان و خوندنش برای همه مفیده
به نظرم همه آدمها باید هوش اقتصادی داشته باشن تا بتونن از گس مخارج زندگی بربیان و خوندنش برای همه مفیده
April 17, 2019
This was a good, quick financial read told in the form of a parable. I wasn't sure I'd like to read about finances through a fictional story, but I ended up enjoying the format!
Zoey is a young career professional who constantly feels broke... which feels familiar to me and I'm sure many others in my generation. Frustrated by never having money for what she wants, her boss advises her to speak to Henry, a local barista. Through their new friendship, he reveals his “Three Secrets to Financial Freedom,” which are: 1. pay yourself first, 2. make it automatic, and 3. live rich now.
This book had good, solid advice with graphs and charts to demonstrate various things such as compound interest. Though it wasn't necessarily anything new to me, it was presented in an interesting way and was motivating and inspiring (which is what I generally look for in a finance book).
All in all, I liked it. It offered some basic advice for beginners, and some that I'll take to heart and use myself. Some of the topics, like investing, will need to be explored further than what the book offered, but it got me thinking, which I appreciated.
Zoey is a young career professional who constantly feels broke... which feels familiar to me and I'm sure many others in my generation. Frustrated by never having money for what she wants, her boss advises her to speak to Henry, a local barista. Through their new friendship, he reveals his “Three Secrets to Financial Freedom,” which are: 1. pay yourself first, 2. make it automatic, and 3. live rich now.
This book had good, solid advice with graphs and charts to demonstrate various things such as compound interest. Though it wasn't necessarily anything new to me, it was presented in an interesting way and was motivating and inspiring (which is what I generally look for in a finance book).
All in all, I liked it. It offered some basic advice for beginners, and some that I'll take to heart and use myself. Some of the topics, like investing, will need to be explored further than what the book offered, but it got me thinking, which I appreciated.
May 15, 2019
Thank you Simon and Schuster Canada for making the book available for me. I have read it and so has my husband.
It looks like many of the characters in the book are fictitious. They Iive in New York City so it is always a basis for good story.
My husband and I have been investing our savings for decades now. He even started long before I met him so he is very familiar with most aspects of personal finance and the power of compounded interest and investing money into a 401 (k). We both have read numerous books about personal finance.
We know that there is a lot of money to save but not buying a latte every day, bringing your own lunch to work (with some exceptions), etc. As a result, we did not really learn anything new in the field of personal finance from this book.
This said, the book is well written and is easy to read. It can be a very good book for someone in his/her 20's and 30's to realize how important it is to take control of our finances. The information can be found in textbooks but this format is fun to read because it reads like a novel.
It looks like many of the characters in the book are fictitious. They Iive in New York City so it is always a basis for good story.
My husband and I have been investing our savings for decades now. He even started long before I met him so he is very familiar with most aspects of personal finance and the power of compounded interest and investing money into a 401 (k). We both have read numerous books about personal finance.
We know that there is a lot of money to save but not buying a latte every day, bringing your own lunch to work (with some exceptions), etc. As a result, we did not really learn anything new in the field of personal finance from this book.
This said, the book is well written and is easy to read. It can be a very good book for someone in his/her 20's and 30's to realize how important it is to take control of our finances. The information can be found in textbooks but this format is fun to read because it reads like a novel.
April 3, 2019
Having read one of his other financial books, I was interested in reading this one as he had mentioned the "Latte Factor" elsewhere.
This book takes the form of a story of a young woman with some financial struggles to showcase the financial and life principles the author wants to share with his audience. The book was a quick and easy read and I think he gets across his message fairly well. I like the use of wrapping up his financial/life principles in a full story as I think it may help people see themselves in a similar situation and see how his principles can help.
This book takes the form of a story of a young woman with some financial struggles to showcase the financial and life principles the author wants to share with his audience. The book was a quick and easy read and I think he gets across his message fairly well. I like the use of wrapping up his financial/life principles in a full story as I think it may help people see themselves in a similar situation and see how his principles can help.
April 7, 2019
I read an online preview of this book via NetGalley, and sit in awe of David Bach's ability to tell impactful, meaningful stories. THANK YOU David. I needed to read this right now, as I face a retirement that will not provide for our dreams unless we make immediate changes. This book is at the core of our 'how.' Highly recommended!
If you're in high school or college, start applying this book's principles today - they will make all the difference down the road.
If you're in high school or college, start applying this book's principles today - they will make all the difference down the road.
December 4, 2023
ل ديفيد باخ كتاب
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
هو احسن كتبه و أرشحه للقراءة
... و ال latte factor هو فصل فى ذلك الكتاب .... و اعاد سرده هنا ف صورة (كتاب - رواية)
لانه بمفرده مجرد فصل فكرة يمكن اختزالها فى سطر
"هناك مصروفات يومية يمكنك الاقتصاد منها -كماً او كيفاً-دونما الغاؤها لادخار هذه الاموال للمستقبل"
فاحتاج الكاتب لجعله كتاب عبر حكيه من خلال قصة ...مثل كتب
جبلنا الجليدي يذوب
اغنى رجل فى بابل
من الذي حرك قطعة الجبن الخاصة بي؟
الهدية
ملخص الكتاب
الكتاب القادم : دليل رائد فضاء إلى العيش على كوكب الأرض
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
هو احسن كتبه و أرشحه للقراءة
... و ال latte factor هو فصل فى ذلك الكتاب .... و اعاد سرده هنا ف صورة (كتاب - رواية)
لانه بمفرده مجرد فصل فكرة يمكن اختزالها فى سطر
"هناك مصروفات يومية يمكنك الاقتصاد منها -كماً او كيفاً-دونما الغاؤها لادخار هذه الاموال للمستقبل"
فاحتاج الكاتب لجعله كتاب عبر حكيه من خلال قصة ...مثل كتب
جبلنا الجليدي يذوب
اغنى رجل فى بابل
من الذي حرك قطعة الجبن الخاصة بي؟
الهدية
ملخص الكتاب
الكتاب القادم : دليل رائد فضاء إلى العيش على كوكب الأرض
March 24, 2019
The Latte Factor is quite possibly the best finanybook I have ever read. It is 10% about financial principles and 90% about vulnerability! That’s where real change starts to happen!
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