Save money by buying coffee every day

Posted on by in Budgeting, Saving Money & Finances

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A lot of people tell you that a great way to pinch some pennies is to cut out the buying the daily cup of coffee. Whilst I agree with that I think there may be a missed opportunity.

Purchasing coffee and drinks every day obviously costs money but what if you owned the store? I’m not talking about starting a franchise here, I mean a little store, so little that you are the only customer.

Well, this is my new coffee house, it’s tiny isn’t it?

You may be wondering what on earth I am talking about, have I gone a little mad? The idea came to me the other day. I buy a few coffees and sodas each week. I could benefit from just having the same coffee with me in a travel mug or buying a bigger pack of sodas from a supermarket and taking one with me for my treat. I probably drink 1-2 black coffees a day and about 1-2 sodas a week right now. The soda normally comes from the store and costs a few dollars, probably 3-5 coffees a week are purchased at $3-$4 (we are talking New Zealand dollars here if that seems expensive).

However having my own little store that I profit from will surely give me an incentive to get these coffees and sodas from my own stock at home, right?

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That is where the envelope store comes in. Each time I have a coffee and soda at home I am going to put $1-$2 in the envelope.

What is the point?

After a few weeks I am sure the envelope will be bursting. I would have saved a nice little wad of cash without really missing the few dollars here and there. What one does with that money can of course vary depending on budget priorities. I think I am going to put it into a travel savings pot.

What do you think of the idea? Would you give it a try?

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Save money by buying coffee every day, 5.0 out of 5 based on 3 ratings

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18 Responses to “Save money by buying coffee every day”

  1. Barb

    08. Jun, 2012

    I have done this, minus putting the money in the envelope. It does really help stretch my monthly spending money and my emergency stash of cash is not dipped into at the end of the month as much. Thus, having money aside for a real emergency.

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    • Forest

      08. Jun, 2012

      Hey Barb, it’s an obvious way to save really, though I have seen a rebellion from some of the bigger personal finance bloggers who think you should concentrate on the bigger picture and not worry about things like coffees.

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  2. Krantcents

    08. Jun, 2012

    Making one small change can add up to big dollars. I usually treat myself to coffe and cookie 3-4 times a month. I try to cut back to just 1-2 a month to mix it up and save a few dollars.
    Krantcents recently posted..Friday Night Links: La Boulange EditionMy Profile

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  3. Daniel B.

    08. Jun, 2012

    Great idea! So if you continue to do that over the span of a few years, you might actually be able to invest in a cafe.
    Daniel B. recently posted..YPC Giving and Brett Alegre-Wood donates $5000 to Adult Illiteracy through the Peoples Book Prize.My Profile

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  4. Practical Parsimony

    09. Jun, 2012

    I don’t drink coffee, so I already save there. I buy a 24 pack of Cokes and won’t tell you how many of those I consume in a day. It annoys me when I buy one from a machine. I tell myself, “If I bought 24 cokes from machines, I would be paying $24 instead of $5.98 for drinks. I think keeping tracks of treats eaten out is just as important and bigger expenditures.
    Practical Parsimony recently posted..Potato HarvestMy Profile

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  5. Lance@MoneyLife&More

    10. Jun, 2012

    A very cool trick that can add to your savings fast. You just have to have the discipline to do it and not raid the coffee fund :)
    Lance@MoneyLife&More recently posted..Weekly Goals, Carnivals and Round Up #7My Profile

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  6. Belinda Ramirez

    11. Jun, 2012

    This is a very interesting post. I agree that buying in bulk and considering it as a little store at home is a great strategy. However, this poses a great temptation to consume more than the usual. The initial intention to save might become the culprit of breaking the budget.

    Best regards,
    Belinda

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    • Forest

      12. Jun, 2012

      Hey Belinda, the temptation really is hard when it is all there so often it’s best to keep things out of sight! It takes some training but can be done.

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  7. Money Beagle

    11. Jun, 2012

    As long as you don’t do this, then take the envelope full of cash and buy something you wouldn’t have anyways. Do that and you’re right where you started. The key is to do something productive with that money.

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  8. Ashleen Moreen

    12. Jun, 2012

    I drink coffee before when I was not a pregnant but my husband loves to drink it. I think you are right we can save more money by buying coffee everyday with our own coffee house.
    Ashleen Moreen recently posted..different door typesMy Profile

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    • Forest

      12. Jun, 2012

      Absolutely Ashleen, Good that you are thinking about your body whilst pregnant.

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  9. Invest It Wisely

    10. Jul, 2012

    This is a neat, creative trick. I’m actually trying to cut down my coffee consumption, because too much caffeine makes me go bonkers, even if I do love the stuff…
    Invest It Wisely recently posted..Are People Shooting Themselves in the Foot With Income Reports?My Profile

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