You may be a great bean counter when it comes to personal finances. Have you ever paid much attention to the cost of your coffee drinking habits? Ok, understood, you just have to have your daily coffee fix and you simply can’t function without it! However do you realize that your coffee habits are over time can be considered a major household expense? Read more about how much you are spending on coffee and or other ways to save more money with Daily Savers Club.
So. How Much Do You Spend on Coffee?
Have you ever stopped to do the maths on how much you spend on café prepared coffee each year? Probably not. Each time you order a coffee you are only spending around $3-$4 which is not a significant amount. However things become a lot different when you add up all the times that you order coffee over a one year period.
Coffee Cost Case Study; Meet Greg.
Say a quick hello to Greg before he rushes out the door. Greg heads off to work in the city each day. He is a typical coffee consumer who grabs his daily cup of coffee before entering the office. Let’s assume Greg buys a coffee at his favourite city café before going to work. Takeaway his annual leave and public holidays, Greg is ordering coffee before work for 46 weeks of the year. 46 weeks x 5 Working Days = 230 days.
At an average cost of $3.50 per flat white that Greg orders, he will spend $805 on coffee in one work year. If Greg at work likes to buy more than one coffee then the expense goes even higher. If you compare an $805 coffee expense to that of other household expenses such as insurance, electricity and gas, you will see the annual total could be comparable!
3 Ways to Save Money on Coffee Drinking
1— Coffee loyalty cards
Using the above example if Greg is getting a FREE coffee for every 7 that he buys he will save around $98 dollars, bringing down his total annual coffee expense to $707. A saving of just under 12%.
2 – Drink coffee at home or in the office
Drinking coffee before leaving for work is a great way to save money. Cheaper alternatives to cafe coffee is instant coffee. Alternatively encourage your office to supply high quality coffee or even a coffee making machine.
3 – Drink less coffee or even better, stop!
If you can manage to switch to an alternative drink of choice you will save money. For example – water! Or tea is a slightly cheaper alternative which still contains some caffeine if you are open to the switch.
Saving money may give you a greater buzz than any cup of coffee will ever bring you.