A lot of people start off their mornings at their favorite coffee spots. However, over time this can add up quick. Let’s do the math, $4 a day on one latte comes out to $20 a week, and that is over $80 a month, and a total of $1,000 in a single year. Plus, if you have hungry children who insist on having a pastry or a drink of their own, that amount can easily triple.
If you have been looking for a way to save money, whether it be for a nice vacation or just to pay down those credit card bills, you might find these tricks to reduce your coffee bill helpful.
- Resist the temptation and make your own coffee
Even if you are into espresso and lattes, small home espresso/lattes machines can often be found for $20 and $30 at chain drugstores. High quality beans are readily available, and all those flavored syrups are only about $5 a bottle at the local grocery store. I know that homemade coffee is not as glamorous, but honestly does it really taste all that much different?
- Experiment at the coffee shop condiment station
If you do end up going to a coffee shop, try getting a cheaper basic coffee and experimenting with the mix of cream, sugar, and additional powders/flavors at the condiment station. Your own creation could end up tasting just as good as a specialty latte without costing an extra $1 or $2.
- Flavor your own coffee at home
How can you do this? Simply toss a few dried cloves, a cinnamon stick, dried orange peels, or whatever sounds good into the grinder with the beans. If you prefer not to grind your own beans, check the grocery store to get those “$1.50 a pump” syrups for only about $5 a bottle. After this, you can’t use “wanting something different” as your excuse to go to coffee shop anymore.
- Make coffee popsicles or ice cubes with leftovers
If you have leftover coffee in your pot, pour it in an ice tray and freeze it. Or you can make iced coffee at home and then use the coffee ice cubes to prevent watering down your drinks. Did you know that instant coffee was invented in 1901.
- Reuse your coffee grounds
Used coffee has many applications including: a natural deodorizer in your refrigerator, a high-nitrogen additive for your garden or compost heap (especially good for tomatoes). Of course, you can also reuse them to make more coffee. Mixing fresh coffee half and half with used grounds is often undetectable to your taste buds, and you can save as much as 50% on your coffee using this trick. You can experiment with the percentages for optimal results.
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Written by Katiee Comer.
Securities America and its advisors do not provide tax advice. Please consult with your tax professional regarding your individual tax situation.