Ever since college, I have been an avid coffee drinker. Having at least one cup a day, give or take. Now I know there are millions of other people out there who have the same addiction that I do. We are surrounded cafes, coffee shops and even Starbucks in our local grocery stores, which I have definitely been a customer at.
Because of my love for coffee, I decided to see how this expense is affecting my budget and how much I'm losing from my goal of being a millionaire.
During college, I definitely was a Starbucks girl. I rationalized in my head everyday that a $5 latte is totally normal and that I could afford it. Well, nothing like a cup of coffee slapping you in the face to realize that is ridiculous. Since then, I have pretty much broken up with Starbucks and am now an avid Tim Hortons fan. Which my wallet is happy with, but I tend to go overboard.
I'd say I go to Tims and get a medium double double about 3 times a week, having coffee at work the other days. So...
$1.64 (which I think is what I pay every time) x 156 coffees in a year = $255.84
I'm actually shocked with that number. For some reason I thought it would be more. Regardless, that is $255.84 that could be going into savings. So, because I own a Keurig coffee machine, I wanted to price out what it would cost per year if I used strictly that and never bought coffee at Tims again.
The kind of Keurig K Cups I normally get are $13 for a box of 18 on average, which means each cup of coffee costs me $0.72.
$0.72 x 156 coffees in a year = $112.32
That is much more reasonable. Telling me that obviously I don't need to waste time going to Tim Hortons, as much as I LOVE roll up the rim right now... haha! Not to mention the gas that I'm using to get there, when I can just make coffee in the comfort of my own home.
I could be saving $143.52 a year from cutting out Tim Hortons! Now don't shake your head, I know that doesn't seem like a lot, but any bit counts. Especially with the goal that I have!
So coffee from home it is! I really hope I can stick to this actually, it will be tough, but if anyone see's me with a Tims in my hand, feel free to get mad at me! I'm sure there will be a few exceptions from the rule, but cutting the majority out will definitely help in my journey. Seems like a positive to me :)
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Ugh. over 5 years you'd only save $700 which maybe is enough for a flight somewhere, but those happy moments in my car in the morning with fresh hot coffee are like every day mini vaycays.
ReplyDeleteHowever, in joining this journey with you I am committing to take these tips into consideration and so far I've kept up.. however in this case I am willing to part with $85/yr to still maintain at least a Monday morning moment of relief/sanity. Mmm sweet sweet McCafes.
Yes, fair enough. It definitely isn't a huge amount, but every little bit counts :) I am going to miss the mini coffee vacays in my morning drive for sure! haha
ReplyDeleteMaking coffee at home is a huge money saver! Good job on living the frugal life!
ReplyDeleteThanks! Loving it so far, things are so much simpler! Who knew! Haha
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