I think we’re too quick to dismiss the spirit behind this sort of advice. As I see it, the “latte factor” and its more laughable cousin, the wasteful avocado toast, are just clumsy ways of saying that for average people, doing something financially big like buying a home will require financial sacrifice in other areas. No, skipping avocado toast alone won’t buy you a home. But if you apply the mentality of skipping avocado toast in a bunch of other areas — e.g. you cook cheap food at home, cancel your gym membership in favor of running outside and YouTube yoga, make do with the clothes you have and ride a bike instead of driving — those kinds of things COMBINED can make a real difference in the amount of cash you have left over at the end of the month to save toward a home purchase. Would this kind of thinking allow the person earning $24k/year in San Francisco to buy a home? Almost definitely not. But for the person earning $45k/year in a more affordable mid-sized city, giving up the proverbial avocado toast across the board for an extended period of time could make a real difference. I think that’s what’s intended when this kind of advice is given — it’s unfortunate that it sounds classist and out of touch, but I think there is a benefit to be had for those willing to consider the spirit of it.