David, I read your book the Automatic Millionaire. While I am doing some things correctly, I needed to make a few changes. I read the part about the latte factor and must say I thought it sounded funny, but than I set back and looked at what I spent on a daily basis. My morning started with a stop for soda on the way to work ($1.19) at my first break I go to breakfast ($5.00). Then there is lunch, another $5.00, second break, another soda ($1.19). Okay so I figured $12.28 not too bad, until I sat down and added up mine and my wife’s weekly bill for eating out- an average of over $500.00 a month! Now your latte factor made a whole lot of sense and no longer looked funny. I now eat breakfast before I go to work and I pack my lunch, my wife and I still go out to eat but only on Friday nights. I was already in the company’s 401K at 10%; they match up to 6% of my pay check. I have now increased my part to 14%. I already have money automatically coming out of my checking and going into a savings. I also have direct deposit going to mutal funds with Edward Jones. The only thing I really need to work on is my credit card bills.I am using the money that I am saving because of the latte factor (about $600.00 a month) and paying off my bills early. I also called a few of my credit card companies and asked them if they lower the interest rate. A few said they would and I now pay those by electronic payment. A few even just lowered my interest rate, because I have good credit. The newest luck I have had is that my wife was just offered a house as part of her benefit package for work. We make one room an office and the house is free for us to live in. So I am renting my house and letting someone else build my equity, and the extra money is going to bills so we can pay them off faster. I am also in the middle of buying two foreclosed houses to use as rentals.
Your book was very helpful and I do see myself finishing rich. I let one of my friends read your book and told him to pass it on when he is done.
You truly did help my wife and I.