After feeding, diaper-changing, dressing, and dropping my kid off at daycare I return to a quiet house to start my work day. Aside from my breakfast smoothie, coffee is the most important part of my morning routine.
I love pretty much everything about it: the ritual of boiling the water, measuring and grinding the beans, smelling the freshly ground coffee as it falls into the French press, setting the timer as I let the coffee steep, sipping coffee throughout the morning as I work. You get the idea.
At various stages of my life I bought most of my coffees at Timmie’s ($1.50 or more) and as I became more of a coffee snob I graduated to higher end shops like Starbucks (up to $4 or even more depending on what you buy). Over the years I came to realize I could save a bunch of money and achieve as good or better quality* by making my coffee at home.
I have been doing it for year, but how much am I actually saving by making my own coffee at home? I don’t know the answer and I am keen to find out!
I did some measuring and found that I make enough coffee each morning to have two mugs worth (roughly 500ml). As I like my coffee strong, I use 30 grams of coffee for the batch (in French press) which works out to 15 grams per mug. I checked out the price of the coffee I am using and it is $12.99/kg (which I think is quite a good). This means that each cup is costing me just under 20 cents (1.3 cents/gram x 15 = 19.48 cents).
20 cents! Even if you compare my 20 cent cup of coffee to one from Timmie’s (which is weak and lower quality), I am saving more than 86% ($1.30/$1.50). If I compare to Starbucks (which isn’t as good as my coffee at home but closer in strength and quality than Timmie’s) the savings is even higher at 90% to 95% depending on whether drink perk coffee or expresso based drinks.
So the great news is that beyond the ritual and great taste of making my own coffee at home, I am saving around 90% each cup of coffee. While the dollar amounts aren’t massive – say $3 a day – saving $1000 a year is no joke! And if we are going to achieve financial independence then the areas where we can save $1000/year are worth paying attention to.
This is one example, but I am sure you have some of your own savings tips. What are your favorite ways to save money in your home?
*For tips on making a great cup of coffee I would suggest you start here.