How Much Does That Daily Coffee Really Cost You?

January 20, 2009   1 Comment   financial plan

I was sitting in a local coffee shop the other day and started wondering if people actually know how much a cup of coffee costs over a year, two years, five years or ten years.

Let’s say you like to drink coffee from one of the high-end coffee shops, you can expect to pay $1.71 with tax for a regular coffee.  Now if you have that coffee once every few weeks, it doesn’t add up to a fortune, but if you’re having the cup of coffee once a day, every day, 365 days a year, it can add up, but the question is, how much can it add up to?

Well, if you buy 1 cup of coffee every day, you’ll have spent the following:

• after 1 week you’ll have spent  $11.97
• after 1 month you’ll have spent $47.88
• after 1 year you’ll have spent $574.56
• after 2 years you’ll have spent $1,149.12
• after 5 years you’ll have spent $2,872.80
• after 10 years you’ll have spent $5,745.60

Now I like my daily cup of coffee as much as the next person, and I’m not here to preach a frugal lifestyle (you do have to enjoy life after all), but it’s important to realize where your money goes, and make sure you include your daily cup of coffee in your budget – $1.71 a day may not seem like a lot, but I’m sure $574.65 might make a difference to your budget.  Something as simple as a cup of coffee can turn into a large sum of money over time – who knew that you could choose between a cup of coffee everyday or a month’s worth of rent?

No related posts.

Tags: budgeting, coffee

One Response to “How Much Does That Daily Coffee Really Cost You?”

1. Budgeting Exercise | Following The Goods says:

   January 25, 2009 at 12:35 pm

   [...] Your own finances are no different.  If you don’t plan ahead, even for your daily cup of coffee, you’ll end up broke and living in your mom’s [...]

   Reply