Beware the Latte of Death

Good morning, can I get you your regular? You bet a double latte, here is the $5 and see you tomorrow or I might sneak by on the way home. Sound familiar? If so you are suffering from late stage Latte-melanoma and if you are not careful you can die from this. Die of poverty I mean.

There are plenty of studies on the Net about how the average coffee house drinker can drop $1000-1500 per year! Holly coffee beans that is a whack of money for coffee. I researched a franchise of a well-known chain and got to look at the numbers, folks that stuff they sell is not that expensive for them to make. We are giving them huge profits and when that happens we suffer.

There are several solutions to this health menace. My favorite is stop! Well if that is unlikely, can you go and get yourself a really nice mug and your own machine? I have seen plenty of good quality espresso, latte, cappuccino or even plain old coffee machines for a lot less than what you would spend in a coffee house.

As I think about it, $1500 buys a really nice vacation in a tropical location. Is that coffee in the morning really doing it for you versus a week in an all-inclusive resort on the Riviera? Oh I know you need that little “pick me up” in the morning. Did you know an apple has more “pick me up” than a cup of coffee? It’s okay, I did not believe it either until I tested it out in my clinic with patients for a year or so. It takes a month or more to detox from the coffee before the apple can kick in, yes most coffee sold in America is fairly toxic stuff

I know from working with lots of people in debt that the habit of going into the coffee house can be a hard one to break. Once they do it, they miss it for a while and then they wonder how they got convinced to spend that kind of money in the first place. They are normally wondering that while on a nice vacation. When you see what those little expenses add up to and you compare it to what you could do with that money, it is easy to curb the spending.

For some of us our “Latte” may not even be a latte. It could a bottle of Pepsi or Coke. The point is to be aware of all your little or not so little daily habitual expenditures. Of course for many people they are burdened with consumer debts, these expenses are just piling on more debt. This creates more stress and the desire to have a little luxury or treat to take your mind off your money problems. Unfortunately the downward spiral of debt continues. Ask yourself would it be nice to be debt free and able to go on a nice vacation knowing you paid for it with your Latte money?.

Take today and look at the ‘little’ expenses you have on a regular basis and add them up for a year. What do you think about that amount of money being spent? Can you afford it, do you get enough enjoyment from it compared to the cost? Are you being Latte’d to death? If so do whatever it takes to stay out of the store and take that money and do something with it so that your next Latte is in some exotic location.

Ward Willison is a self made millionaire and Accupuncturist. Out of frustration of increasing stress his patients were recieving from higher and higher debt. He developed a website at http://www.winthedebtgame.com to offer free debt elimination tips and strategies.

This entry was posted on Friday, December 29th, 2006 and is filed under Debt Consolidation, Debt Financing, Debt Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
« Debt Elimination Program - It’s All In Your Head
Paying Off Your Debt »

Leave a Reply

Sponsors

 

August 2008
S M T W T F S
« Jul    
 12
3456789
10111213141516
17181920212223
24252627282930
31  

How Credit Scores Affect Mortgage Applications

With a good credit score an applicant will receive prompt response from many lenders, all of them offering low interest rates and low down payment options. The loan amount offered also may be high. On the contrary a low credit score would result in a lot of rejection from various mortgage financers. Because creditors wouldn’t come forward easily to give credit to individuals that have a history of difficulty in repaying existing loans. After all, creditors take risk when they finance mortgages against the credit history of a debtor. Naturally, they will wish to remain on the safe side and pick up less risky ones that have good credit histories. A good credit score means less chance of missing on payments and therefore less risky.

But there are some real risk takers that will come forward to finance mortgages for individuals with bad credit scores. They would charge high down payments and always high interest rates though. They may also fix additional charges for every little paper work and may charge high closing rates. The loan amount offered will also be considerably less. The individual with poor credit scores will not have much choice but to accept the terms and conditions as there are no other alternatives. This is a tight situation and to avoid this you must have a good credit score.

People with bad credit may fall in to the trap of ’secured loans’. Secured loans are the ones where the loan applicant offers an asset as collateral security. The lender becomes secure about the repayment of the loan and not the borrower. Securing a loan with bad credit score becomes easy only when the applicant is willing to offer some asset as collateral security. This again is a very dangerous situation where an individual runs the risk of losing his entire collateral asset in case of failing to pay the loan installments in time. An individual should always avoid such type of a loan.

Resort properties normally require large amounts of finance which a person with bad credit may find it difficult to obtain. So it is always advisable to keep your credit score high. Incase the credit score becomes low due to unavoidable financial reasons it can be improved upon. There is no need to lose hope simply because a person has a low credit score. If the property that he intends to buy has good equity he should go out and try to obtain finances for it. There are many sub prime lenders willing to offer their services.

For a review of your credit report as it relates to a mortgage loan and a consultation on the best loans available to you, give us a confidential, no obligation and no cost call.