Coffee money

There is a high percent of people that purchase coffee on the way to work to drink on their morning commute.  I took the average price of large coffee from five different common stores, which came to $1.93.  I multiplied this by 5 working days, which equals $9.65 per week.  Over the course of a 52 week year, you could be spending $501.80 on coffee.

Wawa $1.45
McDonald’s $1.49
Dunkin Donuts $2.09
Starbucks $2.45
Biggby $2.19

I personally like iced coffee, which often ends up being more money than regular hot coffee.  For example, iced coffee is $2.95 for a large (Venti) at Starbucks versus a large (Venti) hot coffee, which is $2.45.  This is $0.50 more for iced coffee versus hot coffee or an extra 20%.  This would take the $501.80 yearly spend on coffee to $602.16.  I found my homemade coffee made with my vary own percolator to taste better than store made coffees and a more cost effective solution.  A 20oz bag of Peet’s Coffee costs about $12.58, which can produce one-hundred 9oz cups of coffee or  thirty-seven 24oz cups of coffee.  With this math we can figure thirty-seven 24oz iced coffees from Starbucks will cost you $109.15.  A 20oz bag, which yields roughly the same quantity will cost you $12.58.  If we throw in creamer, sugar, and anything else you’d like to add, you are probably spending $25 for the same thirty-seven 24oz iced coffees.  This provides you with a $80 plus dollars in savings per thirty-seven cups.

With all this being said, I truly do enjoy my own iced coffee better than any store bought iced coffee.  It does require some planning to make the coffee a night in advance, so you can refrigerate it over night for the morning.  You can make enough coffee for the entire week if it makes your life easier.  This is only one of the ways we can think about cutting out costs.  There are many other purchases in our lives that we can take a second look at.  If you really analyze your spending, you should be able to find other expenses that simply can be removed.  It just so happens that I really do enjoy my own iced coffee over store purchased, so this savings is an easy one.

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