It’s easy not to think about how much money you spend a month on coffee when you’re going through the drive-through everyday on your way to work. There’s something special about holding a delicious warm cup of coffee made by someone else. Whether it’s from Starbucks, Dutch Bros., or The Human Bean you know that a coffee expert made it and they always seem to taste just right.
How to Avoid the Hefty Price of the Coffee Shop
The average twelve ounce coffee is around $1.75, which you can probably pull from the change in your cup holder. However, if you get that every morning, you’re spending $52.50 every month on coffee alone. If you buy a sixteen ounce or twenty ounce coffee you’re looking at spending $58.80 or $62.10 a month.
I am slightly ashamed because I never buy regular coffee. I buy mochas, lattes and frappuccinos. At $3.75 for twelve ounces I would end up spending $112.50 a month if I bought one every day. What if you want a sixteen or twenty ounce specialty drink? Then you’re spending $121.50 and $133.50 a month. That money could go towards groceries, a student loan or three new pairs of pants.
To make a twelve ounce coffee at home it costs you about forty cents. This includes two cents for a teaspoon of sugar and nineteen cents for a dash of milk. A coffee maker like this one will cost you twenty dollars. After purchasing everything you need (coffee maker, coffee grounds, milk and sugar) you will find that the cost will pay itself off after just two weeks should you have been buying coffee at a stand or shop. You will save $20.50 the first month you decide to make your own coffee followed by $40.50 for every month after that.
If you’re the specialty drink kind of person like me you need an espresso maker. I own one similar to this model that costs forty dollars. Like the coffee maker, the espresso maker pays itself in just two weeks! The price quotes I’m giving you include the cost of milk, espresso beans and syrup (get it on sale for five dollars!). If you make your own twelve ounce lattes, you’re spending $.92 a day. The first month you save $45 for refraining to stop at “Bob’s Jumping Java” and every month after that you’re saving $85. That’s a lot of money!
Don’t let your coffee-buying habits go unnoticed. One frightful day you’ll sit down to look at your budget and wonder where all the money went. Make stopping for coffee a special occasion. I like it when my husband buys me one on the way to church or before a long drive. Look for places with stamp cards that reward frequent buyers with a free drink.
More Money Saving Ideas!
Some other tips? Ask for a coffee maker, espresso maker or reusable cup for your birthday or Christmas. That way you can start saving money right away. If it’s really hard to resist stopping at a stand because it’s on your way to work, take a different route or merge your coffee budget with another budget. My husband and I’s going-out-for-coffee budget is incorporated into our grocery budget. That way if I buy too many coffees I realize we won’t have dinner at the end of the month.
A warm meal, an electric bill, your best friend’s birthday gift, or a coffee – sometimes you have to make difficult decisions! Please order your venti non-fat sugar-free vanilla latte with financial caution!
Are you a coffee drinker? How do you save money on coffee? Leave a comment below!