How Much is Your Coffee Really Worth?

September 29, 2016
Adrienne H., Financial Expert

Did you know September 29 is National Coffee Day? Millions of Americans drink coffee every day, in fact, more than 80% of American adults drink coffee! No wonder there is a holiday to celebrate the beverage many pour into their cups first thing in the morning. Unfortunately, many times before the coffee is being poured into your cup, your money is draining out of your wallet. If you can’t go without a daily cup of Joe, consider finding ways to cut down on your coffee expenditures.



As coffee shops seem to be on every street corner, it can be very easy to pay $4.00 or $5.00 for a fancy cup of coffee, especially the ever-so-popular fall special: pumpkin spice latte. That price might not seem that expensive for each individual sale, but if you’re paying $5.00 for coffee each day, you’re spending about $150.00 month or $1825.00 a year! What could you do with $1825.00 a year? Is that two months of rent? Four monthly car payments? Or could that money pay off a high-interest loan?

Maybe you brew your own coffee at home. If that’s the case, then you’re spending a lot less than those who make their daily stop at the coffee shop. To understand the difference on how much you’re saving by brewing your own coffee versus buying it from a place like Starbucks, use this calculator to get an estimate on how much your coffee is worth. If you feel as though you can’t live without your favorite specialty coffee, allow yourself to purchase your favorite drink once a month. This will save you money while knowing you don’t have to completely give up your favorite treat.

#NationalCoffeeDay Perks
Coffee might be making a big dent in your budget, but with this “made-up” holiday there are many coffee deals, including free coffee at various coffee retailers all across the nation. If you enjoy a good cup of coffee, take advantage of these National Coffee Day deals!

“Complimentary” Coffee
If you care more about consuming caffeine than a tasty coffee roast, there might be a place you can find coffee for free every day. For instance, you might work somewhere five days a week that provides employees with free unlimited Folgers or Maxwell House coffee. Or you may live in an apartment complex that offers complimentary coffee at the leasing office. By taking advantage of complimentary coffee, your wallet will thank you.

 

Tags: Savings, Money Management