"Most people drink bad coffee, and pay too much for it. I'm not sure which is worse..." Dr. Penny Pincher
|Me and My Great Coffee (Only 60 Cents!)|
Image Source: Dr. Penny Pincher
You have probably heard of the "latte factor" that is described by many personal finance experts. The concept is that you can get ahead financially by saving or investing your money instead of spending it on buying a latte every day. This is certainly true, but I don't think that many people are actually drinking lattes or other fancy coffee drinks that cost $3 or $4 dollars every day.
I do think that a lot of people buy $2 coffee at coffee shops or even pay $1.79 for bad coffee at convenience stores or fast food drive-thru windows. Some people buy more than one cup of coffee every day. I used to be one of those people...
I realized how much I was spending on coffee and decided to make coffee at home instead. Over time, I figured out how to select whole bean coffee and grind it at home. I learned a lot of tricks to make really good coffee at home for only 60 cents a day- I even wrote a book about it.
I also cut back from drinking several cups of coffee every day to drinking only one really good cup of coffee every day. It can be a bit unpleasant to cut back on coffee since it is mildly habit-forming. Here's how I was able to cut back on coffee and avoid caffeine headaches.
So even though I wasn't drinking $4 lattes, I was able to save a lot of money on coffee. For the purposes of approximation, let's say I was spending $4 per day to buy 2 cups of coffee at a coffee shop. Now I spend 60 cents per day on coffee. This savings of $3.40 per day adds up to over $1,200 per year!
You might say that I have 60 cents more per day that I could cut on coffee, but I am not interested in cutting back on my one good cup of coffee that I make every day. I think a great cup of coffee is worth far more than 60 cents, so I will make room for this in my budget and continue to enjoy my coffee every day.
If you have become stuck in a rut of paying way too much for bad coffee, consider learning to make great coffee yourself at home. Not only will you save money, but you can get much better quality coffee as well.