We’ve all heard the joke that young people could buy a house if they stopped spending money on avocados and takeout coffee. But how much does your daily coffee habit cost you?
According to Which, you can rack up an additional £712 per year by purchasing a simple coffee from a café every day for £1.95, and that’s before considering the costlier lattes, cappuccinos, and mochas. This amounts to £60 per month and £3,559 over five years.
However, a coffee maker at home could save you a considerable amount of money.
A pod machine costs approximately £95 upfront, an espresso machine costs approximately £70, and a bean-to-cup machine costs the most at £290. After five years, the costs will total £1,153, £647, and £847, respectively. This means that if you replace your daily Starbucks with the least expensive alternative, an espresso machine, you can save £2,912 over the course of five years.
Coffee pod brand determines the cost of the machines. For instance, a pack of 10 Nespresso pods costs £3.60, whereas a tin of Illy Espresso Ground Coffee costs £5.50.
You would need 7g of ground coffee, or 15p per beverage, which is less than the average price of 36p per pod. However, Aldi’s cheaper compatible pods, Alcafé, cost 14 pence per beverage.
In general, however, purchasing pre-ground coffee in a can will save you money. Ground coffee is also better for the environment because pods are rarely recyclable.
The best way to save money is to prepare your pre-ground coffee at home and bring it to work in a thermos. Or invest in a cafetiere for your desk. If you cannot give up your Starbuck’s or Pret’s habit, join a loyalty programme to receive the occasional free cup.