April 21, 2015

Spending Ban 101: Giving Up Your Daily Latte

giving up daily latte
In the spirit of saving some of my hard-earned pennies, TSB got in touch to see if I was interested in going on a spending ban.

First thought? No. Second thought? About 90% of my bank statements list coffee shop names…

I decided to give up my daily latte for a week. ‘Daily latte’ meaning any purchase from a coffee shop.

Did I do it? Spoiler alert: yes! My success was down to the methodology of the tips, below, and has made an impactful change on my bean addiction!

How to Give Up Your Daily Latte

– Identify your inspiration. Whether you realise you’re losing your fashion budget to flat whites or you simply want to cut down on caffeine, keep it in your head!
– Do a swap. Personally, I found using my in-home coffee machine a lifesaver. The lattes cost less than £1 per cup (versus £3+) and because the process is more labour-intensive than saying a few words to a barista, I had less ‘just because’ coffees. If you’re cutting down on caffeine, I would opt for herbal teas.
– Resist temptation. Don’t meet friends in coffee places or pass your favourite street espresso on your way to work. If you fail to plan, you might as well plan to fail.
– Put the money you save somewhere. Seeing how much money I hadn’t spent – almost unconsciously – made the biggest impact. A few habit changes meant my so-called ‘pocket money’ went to an amazing dinner, instead.

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