Most people love to drink coffee and espresso. After all, what’s not to love? The flavor, the routine, the jolt of energy in the morning – it’s all fantastic!
But the fact is that having a coffee habit can get expensive. When was the last you went to Starbucks and spent under $3? Probably not for a very long time. If you’re ordering specialty drinks like lattes or cappuccinos you’re probably spending close to $5 every time you go!
And believe it or not, there are some people that go multiple times per day!
Heck, even big chains like Dunkin Donuts are starting to charge more and more. Depending on which location you go to, the cost a specialty drink will rival that of Starbucks which is supposed to be a “higher end” establishment.
And it’s only getting worse. According to financial experts, the cost of coffee is actually on the rise every year! It’s not uncommon for people to spend over $2,000 in Starbucks per year. Some customers are so passionate about it, that they even refuse to stop!
Calculate How Much You’re Spending and What It’s Costing you
The first way to figure out how you can start saving is to calculate how much you’re actually spending per year.
The math is pretty simple: Multiply the typical amount you spend per day by 365. So if you spend $3.00 on coffee per day it means you spend almost $1,100 per year! Plug that into a compound interest calculator and you’ll realize that you’re costing yourself some serious dough in the long run. At a 9% interest rate, you’ll be losing almost $1,500 over 30 years.
That should give you some serious motivation to start spending less on coffee. Now here’s the how…
Figure Out How to Make Your Favorite Drinks
If you like your coffee straight up black, then it’s pretty simple. All you need to do is get the right device to brew it and find beans that are similar to what you already like. Heck, if you’re drinking Starbucks or Dunkin Donuts, you can even buy their beans and make the exact same thing for pennies on the dollar!
If you’re into fancy milks and syrups that’s when things get a little more complicated. The good news is that you can buy flavored syrups for cheap at your local supermarket or online if you have to. Just like the beans, you’ll probably be able to find Starbucks brand in stores, the same thing that you’re paying a premium for!
Don’t be shy! Ask your favorite barista how exactly they make your favorite latte or flavored coffee. They won’t have any problem sharing the process or recipe for you with the exact ingredients. Once you know that, just buy those in bulk.
Find the Right Coffee or Espresso Machine
Now that you know exactly how to make your drink, you’ll want to get your hands on an affordable coffee or espresso machine that will allow you to replicate it. If you’re into making regular coffee, any filter coffee machine, Chemex or even a Keurig should do the job. You won’t have to spend a ton.
If you’re making espresso, here’s where things can get a little tricky. Espresso machines tend to be pretty pricey, but to get the best flavors you’ll want to invest in quality. High-end brands like Nuova Simonelli can cost over $1,000 for a home machine, but it’s worth it if you’re buying multiple shots of espresso every day at a cafe. Investing in an espresso machine at home also gives you the opportunity to become a home barista and really learn and appreciate the craft of pulling shots.
You can also consider getting a cheaper espresso machine like a Nespresso that use pods, but the quality is simply never as high and pods are more expensive in the long run.
But a single shot of espresso ordered at a café can cost almost $2! Even though it might seem like a big investment up front, it will pay for itself quickly.
Taking your coffee making into your own hands can save you money and get you to appreciate the artform more. Don’t be afraid to make a few up front investments and learn how to use the equipment properly.