If you are not a coffee addict, then this is not the article for you. But if you cannot make it through the day without your coffee fix, then read on. Many people enjoy coffee, and many people claim to need it. People enjoy sampling different flavors from all over the world, and some people simply like a warm drink to get them going in the morning. Whether you like the fancy coffee drinks or you simply need the caffeine, too much coffee can have a very negative impact on your spending.
Is It Really that Much?
While it is unlikely that coffee will cause you to go bankrupt, it can still take more than its fair share of your money. For example, you start each day with a $4 coffee drink because there is a coffee shop next door to your office. If you work five days a week that is $20 a week on coffee plus tax. Then some days, you have a second coffee drink at lunch-we’ll say another $8 a week. Then maybe once or twice a week, you need that 2:30 pick me up-we’ll say another $6 a week. Now, we’re up to $34 a week. If you look at the month, you are spending around $136 a month, on coffee.
Now, you might drink less coffee than this, or you might even drink more. Either way, there are steps you can take to reduce your coffee related spending.
1. Buy Less Expensive Drinks
One of the first things that you can do is buy less expensive coffee drinks. If you are buying the triple Macchiato with an extra shot, you can try something a little less expensive. Even dropping to a smaller size will help you save some money. Plain coffee is often the least expensive, but there are a number of options at most coffee shops that are fairly cheap. Also, many coffee shops give you a discount if you bring your own travel mug to be filled.
2. Make Coffee at Home
Making coffee at home is one of the best ways to save money when it comes to coffee. For the cost of two or three expensive coffee drinks, you can buy enough coffee grounds to last you for weeks. If you don’t think you have enough time to make coffee in the morning, you can set the coffee maker up the night before. That way all you have to do is push the button when you get out of bed.
You can even buy a more expensive coffee maker that comes with a timer and set it to start brewing ten minutes before your alarm goes off in the mornings. That way your coffee will be ready and waiting when you get up. You should also consider investing in a travel mug or a mug with a lid so that you can take some coffee to work with you.
3. Set a Cash Coffee Budget
If you just have to have your specialty coffee, consider setting yourself a cash coffee budget. First, set a limit such as $10 a week. Second, take that amount of cash and keep it in an envelope labeled coffee fund. Keep this envelope in your desk, your purse, your car, or anywhere that is convenient. When that amount is gone, do not buy any more specialty coffee drinks that week. Try not to cheat when the envelope is not close at hand.
If you are a coffee-holic all three of these tips are a good way to reduce your spending and save a little extra cash.
Do you find yourself spending a lot of money on coffee? Have you tried cutting back? How?