Waking up and drinking a cup of coffee has become a part of daily life for most of us. You roll out of bed, rush to work and on the way hit up one of many coffee shops sprawling over most cities on this planet. One single cup of coffee isn’t a financial disaster but, based on €3 for a medium latte or cappuccino, imagine how much would you save over the course of weeks, months, and even years. And how financially damaging can a café-visiting habit be? And can you make it more affordable?
Over in UK, the average person drinks 676 cups of this delicious drink per year, according to the survey. The poll also claimed that they purchase three drinks from a coffee shop or café each week on average and drink 10 cups of instant coffee. All of this amounts to a total of £310 every year. If trouble’s brewing for your finances, here’s how to rethink your delicious habit.
Spend only on your coffee must-haves
Most money-saving estimates regarding coffee-drinking have been for standard coffee that involves only a bit of sugar, milk or cream. However, some people prefer a beverage that resembles more a sugary desert than black coffee. You know what’s meant here – the iced caramel macchiato, the strawberries or crème Frappuccino. The more you add the more it will cost you.
Understanding why you enjoy these kinds of beverages – or any other coffee – can actually play to your financial advantage. If you’re not really into quality coffee, then why spend money on it in a coffee shop? Purchase inexpensive coffee instead – and become your own barista with DIY recipes at home. (More on that later)
Pay only with money
Nothing is truer than this. One of the top ways to stay within your coffee-based budget is to actually, well, have a budget in the first place. Hence, determine how much you can afford to lose on take-out coffee each day (or week) and keep that money handy. Once you spend it, you’re back to brewing at home.
However, if you do take a wrong turn (buy one) a few times in the start, don’t beat yourself up. It often takes a long time for people to build up certain spending habits, so it can take a long time to change them.
Save cash by brewing your coffee at home
This is obvious. Walk right past those fancy cafes and pick up beans at a local shop to brew them at home. The premise is simple. Just like you always save cash by making things at home – food, snacks, furniture – so too you can save money by brewing your own coffee at home.
Since there are so many coffee grinders out there, be sure to research different reviews for them, like Home Grounds review of coffee grinders, in order to find the one that will both suit your coffee habits and save you money. Whereas an average cup of coffee from a coffee shop costs €3, each cup of coffee you brew will cost you between 15 and 20 cents.
Save in other ways
Most of us are judge-y about spending large amounts of cash on a cup of coffee until they realize that often keeps them from beating their colleagues over the head with a heavy stapler. Pun aside, if that particular cup of your favorite beverage is something that you heavily value and appreciate, and you’re fully in tune with the financial expenses (both outlay and opportunity expense), then savor every sip.
If it’s just a trivial habit or convenience, though, it’s worth changing your ways. So, extreme coffee lovers should likely treat themselves when it comes to their coffee addiction and deprive themselves of other luxuries, like shopping or eating in restaurants.
Yes, we all like coffee. And yet, sometimes this habit can have an impact on your personal budget, especially if it’s a tight one and you’re trying to save for more important stuff. There are a few ways you go about this. For instance, by brewing your own coffee at your home, drinking black coffee rather than sugary extravagance, paying with only what you can afford or depriving yourself of other spending habits.