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Save $10k+ by Drinking More Coffee

Save $10k+ by Drinking More Coffee

 

The average American spends $1,100 per year on coffee. That number drastically increases when looking specifically at millennials. A survey conducted conducted by the financial investing app Acorns, found that 41.29% of millennials spent more on coffee in a month than they spent on any type of investment.

Depending on who you are this might seem like a small amount of money or a massive amount. Regardless, looking at this number over the course of ten years is even more daunting and results in spending $11,000.

I’m not an animal, so I wouldn’t tell you to stop drinking coffee, and the reality is you probably won’t completely stop going through the drive through to get a quick cup of coffee. However, even making small changes can reduce the amount of money you spend over a year and drastically reduce the amount you spend over ten years.

One of my favorite sayings has always been you have to spend money to make money, but I just found an even better saying. This scenario I am about to explain will blow your mind (maybe), and in this case you have to spend money to save money.

There are many reasons that people spend so much money on coffee, but the biggest reason is that they are not making it at home. This might be for many different reasons, but is most likely because of convenience and the way your coffee tastes when someone else makes it.

Unfortunately, I don't have the answer on how you can save a massive amount of money while still going through the drive-thru. I do however have insight on how you can save time, money, and create your favorite drink from the comfort of you home. There are two major steps to create a drink from home that tastes better and costs you less.

Buy High Quality Beans

If you only take one thing away from this article let it be this; The coffee beans you use matter. Grocery store coffee beans and even the coffee you get through the drive-thru is often roasted in major quantities which results in improper roasting techniques and even burnt beans. Additionally, the freshness of your coffee beans becomes compromised the longer they sit on the shelf. The most important aspect of a good cup of coffee is this freshness and this is often missed when making a cup of coffee from home. When you order from Rockwood Coffee you never have to wonder if your coffee beans are fresh. All of our beans are roasted in small batches and are not allowed in your home if they are not fresh!

Buy Great Equipment

The second step in making better coffee for less is buying equipment that is at least similar to what is used in coffee shops. Keurig has dominated the household coffee game for a while now, and for good reason. The simplicity of Keurig can't be beat, but you are limited to the quality of coffee that you can make with a Keurig machine. If you have a Keurig and you are attached to it, at least try a reusable K-Cup. Using a reusable K-Cup gives you the ability to use freshly ground coffee and not pods that have been sitting for an extensive amount of time.

The first piece of equipment that we recommend is an espresso machine. A lot of the top drinks are made utilizing an espresso machine and espresso by itself is fantastic! We recommend the Breville Barista Express. This machine gives you the ability to be a Barista from the comfort of you home. You can grind your own beans, extract real espresso, and steam your own milk (did someone say latte art?)

Remember my new favorite saying? You have to spend money to save money. I know the price of this machine may seem daunting but Amazon offers the modern day layaway with the option to pay in five installments! I will use this machine in my final calculations and show you exactly how you can save $10k+ even though you are buying a premium machine. If you are not ready to spend that much a cheaper option with a few compromises is the Gevi Espresso 15 (below). This machine has less options for customization but still gives you the ability to extract espresso and steam milk. Note: There is no grinder on this one.

If you are not a person who enjoys espresso, lattes or any other form of drink that is made with a shot, we still have some options for you! If you're looking for a regular cup of coffee with extraordinary taste try a pour over or French press. We recommend the Bodum Pour over (first picture), and the Bodum Brazil French press (second picture). Both of these are very easy ways to make a cup of coffee without sacrificing taste! 

Save Money

If all of this sounds overwhelming let’s get back to talking about money through this hypothetical situation!

Jon decided he was going to start spending less money on going out so he could use his money for other things and hopefully start investing! Jon signs up for his favorite Rockwood Coffee subscription and gets two bags of the popular Grizzly Falls blend. This costs Jon $25 a month or $300 a year. Jon decides he’s going to get the Breville Barista Express to make his favorite lattes and impress his friends and family with his espresso making abilities. Jon decides to go with the 5 installments of $139.99 and for the entire year the total cost of the machine is $58.32 a month. Jon starts feeling like a barista and decides to go even further and buy the Bodum Pour over ($19.99) and French press ($19.99). Together that is another $39.98 or $3.33 over the entire year. Jon has now spent $1,039.93 over the course of the year but not only is he getting freshly roasted beans he now has barista level equipment that was a one time expense.

Looking at this scenario if you’re the average person who spends $1,200 a year you will save $160.07 the first year and $900 in the second year. The chart below gives you a simple breakdown of your savings over 10 years and how that money would grow if you invested it and received a 6% return.

Home Barista Drive-Thru Barista

Year One

$160.07

$-1,200

Year Two

$1066.43

$-2,400

Year Three

$2,030.41

$-3,600

Year Four

$3,052.23

$-4,800

Year Five

$4,135.36

$-6,000

Year Six

$5,283.48

$-7,200

Year Seven

$6,500.49

$-8,400

Year Eight

$7,790.52

$-9,600

Year Nine

$9,157.95

$-10,800

Year Ten

$10,607.43

$-12,000

The results from brewing your own coffee at home are astonishing. Even cutting the number of times you go out for coffee in half would result in huge savings. If you decided to go with a less expensive espresso maker you would save even more on your initial cost but would sacrifice some quality. Making your own drinks is not difficult and when you factor in driving and waiting in line it is definitely less time consuming! Rockwood Coffee is here to help. If you ever have any questions on brewing methods or how you can make your favorite drink reach out to us on any of our social media platforms.

At Rockwood Coffee, we are here to provide you the best coffee experience possible. We do this by offering premium blends and single origin options that are roasted in small batches to ensure every roast is perfect. Explore our website for more brewing options and tips to make premium coffee from the comfort of your own home.

 

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