Don’t panic. I’m not saying you can’t have coffee anymore. It’s just that the coffee you drink should be more economically and environmentally friendly. The coffee you brew at home and bring into work is fine, and other strategically made coffees are cost effective as well. It is the coffee from the fast food outlets, the gas stations and the feared coffee specialty shops that I’m talking about. Let’s review the numbers:
If you are 2-a-day coffee drinker, and you buy each of these coffees at one of the conveniently located fast food outlets etc. for $1.75 each (which is the current going price of a medium within a few cents) then this works out to $3.50 a day. At 5 days a week we are at $17.50 a week, and on a monthly basis this adds up to $70 per month! Luckily this is where I come in.
The best part is, you don’t have to give up your coffees. You can actually make your coffee at work! And I’m not even talking about “K cups” or other disposable coffee pods. I find them to be pricey and environmentally unfriendly. So we can do much better than these! You can actually buy a reusable K cup like instrument where you just dump in your own coffee into the single serve cup, then simply rinse it out after, and reuse. These work really well. 2 of these cost about $10. A bag of my preferred super fancy pants organic coffee is about $11 per 240 gram bag. I estimate the bag yields 30 cups of coffee with the reusable K cup. Add in your cream/milk and sugar. Let’s call it 25 cents per cup just for these items. The coffee itself will run about 37 cents per cup based on my $11 bag, lets even include the price of the reusable coffee filter over the use of 30 coffees (mine have lasted 9 months so far) which comes out to 17 cents. This is a grand, way overestimated, total of 79 cents per cup! If you drank all your coffee this way instead of spending $70 a month, you would spend $31.60! Well over 50% savings! Can you think of any other item that you spend $70 a month on and can save over 50% on, but choose not to? Of course not. No one would pass up that kind of savings.
I will only briefly mention the financial horror story of the high end coffee specialty shop. I had someone tell me a few months back that they were going for their daily for a coffee at one of these such places and would also buy some sort of muffin/croissant/biscotti as well. This “coffee” was running $7-$8 A DAY! That is over $200 per month! A very significant and nice amount to set aside for retirement. Luckily after a few weeks this person stopped this silliness on their own. But wow, there are people out there who actually do throw money away like that.
What if you only have 1 take out coffee per day? Great news, you can still save over $20 a month!
Still not willing to switch? Then I give you permission to hit your favorite coffee spot once a week, but that is all.
Hopefully this will encourage a financial audit of your coffee habits.
If you have a topic you would like me to discuss, let me know.