Middle-class Americans are dropping their $4 lattes and brewing coffee at home. I think it’s a step in the right direction. The New York Times does the math on the cost of buying something cheaper -a bottle of soda- every weekday for a year:
A $1.50 bottle of soda for each weekday of the year, for example, would add up to about $390. Now at $2 in some parts of the country, the habit comes with an annual price tag of $520. Over five years, that’s $2,600.
Yikes! It all adds up. I know that Starbucks has taken a financial hit in this economy. It plans to close stores this year. I doubt I notice, though. Is it just me or do you see that green logo on every corner? The company has beefed up its rewards program to try to keep its fans. Free Wi-Fi for its habitual users.
Do you have a daily vice? How much is it costing you a week? Do you drink coffee? Have you tried to quit the habit for health reasons or financial reasons?
Thanks Lou for the tip!
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{ 11 comments… read them below or add one }
yep, my daily vice is eating out for lunch. I’ve tried on several occasions to bring my lunch in, but I still wind up going out to purchase lunch. And it’s costing me about 30-40 bucks a week. And that’s on top of catching the metro and buying gas.
this sounds like the Automatic Millionaire
I don’t drink coffee and I am trying to bring lunch from home. My vice would probably be purchasing new products and gadgets….
Oh well a gals gotta have some fun right?
I hate coffee, so that’s a help for me. My problem has been tackling my soda consumption. I now no longer bring caffeinated sodas into my home. I get IBC rootbear and Dominion ginger ale on rare occasions as treats.
I’m trying to only have one or two sodas a week, and bring my lunch to work every day.
You’re absolutely right – that expensive drink is a leech on the pocket book. You can make coffee at home, and a lot of workplaces have coffeemakers.
Don’t let “the man” keep his fingers in your wallet!
OH – and how many items on Starbucks menu ACTUALLY cost $2.00, after tax? Sweetie, your math is on the generous side. We really are bigger suckers than you think we are!
Lashawn-We can work on it together. Metro sounds good, gas happens. Dining out for lunch? Let’s try to bring lunch at least one day a week. Start out small.
Money-Now you know you are more advanced on the financial tip. You better share your smarts with us!
Product Junkie Diva -You get a frugal pass for buying products. It’s your hustle!
GLM-Yes, stick it to the man! heheh
I don’t know about where you live, Natalie, but my friends and I have noticed over the past several months that there are more GameStop stores than Starbucks stores. The joke was always that you can find a Starbucks on every corner. But in my city, there’s seriously a GameStop on every corner. A new one just opened a month or so ago. There are fewer Starbucks, but that doesn’t matter to me — I brew my own coffee every morning. The only time I’ll take Starbucks is if I need a serious shot of wake-up while shopping.
I think it’s amazing that Americans are cutting back on coffee, but apparently we are not cutting back on our used games. Or maybe it’s a sign that more of us are staying inside for our entertainment to save a few bucks. I know my friends have been coming over to my place to play Wii, rather than spend a night drinking at the clubs.
I am happy to hear of the demise of FourBucks Coffee chains. Good riddance! Shut em down! I will do the happy dance as I dump worms on their double latte frapucciono graves. I support mom and pop owned coffee houses. I hate chains. Me? I make coffee at home and sometimes bring some to work in one of those mini thermal mugs.
I started making my own coffee and using a thermos a few years ago. I do love my lattes but can’t justify the expense every day. Now it’s a “treat” for me.
Bridget-You just gave me an idea for a blog post!
Still Broke-Good stuff!
Buffy-Smart woman. You are ahead of the curve.
I turn to my ex’s dad for financial advice…and as Poppa K likes to say, why buy coffee, tea, hot chocolate or spring water when I can get all of those at work every day for FREE. I’m not a coffee drinker but we even have the machines to brew one cup at a time and you can make flavored coffees like hazelnut, etc., etc.