How Much Money Would You Save by Quitting Coffee Runs?

Many of us start our day with a steaming cup of coffee from our favorite local café, such as Starbucks. But did you know that you could be saving a significant amount of money by brewing your own coffee at home? In this article, we will explore the potential savings from cutting out coffee runs and making things at home, as well as the benefits of eating in.

Breaking Down the Costs of Coffee

For instance, I used to spend 4.50 a day on a 12 oz mocha from Starbucks. That's 22.50 a week, and a shocking 1170 annually! Let's run through the numbers and determine how you can make similar savings.

Buying from Starbucks:

12 oz mocha: 3.50 Tipping: 1.00

Making it at home:

Basic coffee with flavored creamer: 0.30 Instant coffee: 0.15

By brewing your own basic coffee with flavored creamer, you could save 3.20 per day over your morning Starbucks run, leading to a weekly savings of 16.00, and an annual savings of 832. Moreover, if you opt for instant coffee, you can further reduce your expenses to just 0.15 per day, resulting in a weekly savings of 7.50 and an annual savings of 388. Both options result in substantial savings, as shown in the table below:

OptionDaily SavingsWeekly SavingsAnnual Savings Basic Coffee with Creamer3.2016.00832.00 Instant Coffee3.3516.75868.75

Coordinating with Your Schedule

Here’s a step-by-step plan to help you achieve these savings:

Step 1: Get a Reusable Cup

Stop by your local Starbucks and purchase a durable reusable cup that looks like their green-and-white cups. This reusable cup will cost you just 10 dollars, and you can use it to avoid the 5.00 daily coffee expense. You might even find a reusable cup at a garage sale or thrift store for only 50 cents. This saves you 5.00 per day, resulting in a weekly savings of 25.00 and an annual savings of 1300.00, an impressive amount to cut from your budget.

Step 2: Open an Account at a Local Bank

Next, seek out a bank that is convenient for you and that offers free coffee. Approach a banker in the morning and open an account with the minimum opening balance. By depositing 5 dollars each day into your account at the start of your workweek, you'll accumulate 1000 dollars by the end of the year. This amount is enough to purchase a second-hand or budget car, allowing you to begin the Drive It Forever method, which promises to save you thousands more in the long run.

Step 3: Enjoy the Benefits of Eating In

For lunches and dinners, consider making your own meals using leftovers. This will save you 10 dollars per meal, in addition to the cost of travel and time. Making meals at home is significantly cheaper than eating out, which often costs around 20 dollars per person.

Conclusion

In conclusion, you can significantly reduce your expenses by quitting coffee runs and making things at home. By brewing your own coffee, opening an account at a free-coffee bank, and eating in, you can save a substantial amount of money each day. This not only helps you cut down on costs but also supports local businesses and promotes a more frugal lifestyle. Start enjoying the benefits of these savings today!