Source: Espresso Business Solutions, 2017 Data
“But first, coffee.” The statistics above show why this has become such a well-worn expression. To many Americans, the essentials are food, shelter, clothing and coffee. If you’re like half of the U.S. population, you’re spending about $2,700 every year on your daily coffee fix.
However, if you’re looking for ways to save money, here are a few ways you can cut your coffee costs without sacrificing the simple joy of java:
Related: Want to make it rich? Read these 10 Habits All Financially Independent People Have in Common
Obviously, one of the best ways to save money on coffee is to stop buying it from coffee shops. But if you enjoy the cozy atmosphere of a coffee shop, why not create a cute little cafe area in your home? Though it might cost a little bit more money up front, you could save thousands of dollars each year.
You’ll need a few key supplies: a coffee maker, French press, and/or Keurig machine, coffee grinder, creamer and sugar. You can save a lot of money by buying five-pound bags of coffee that can easily last a month or more. Another way to save money on great coffee is to buy Fair Trade coffee at big chains, which are usually less expensive than other retailers.
Here are a few other ideas to dress up your coffee area and make you forget ever wanting to go out and pay a cup of coffee again:
As an avid coffee lover, maybe you still want to go out for your coffee rather than make it at home. One way reduce the expense is by using gift cards. Since the goal is to save money, don’t pay full price for your gift cards. Instead, look for gift cards at places like eBay, Groupon, and Craigslist.
If you’re a frequent Starbucks patron, you might be interested in using these cash saving hacks:
Coffee is great, but it’s not an absolute essential. Maybe you’re willing to give it up to save money. However, if times are particularly tough, you might need something a lot more drastic than giving up coffee to make ends meet. If so, consider getting a title loan.
If you qualify, you could get up to $15,000, regardless of your credit. You could use title loans as a short-term strategy for making ends meet. To be eligible, you must have a lien-free, paid-off vehicle that’s in your name. You don’t even have to give up your vehicle while doing so.
If this sounds like the way to go for you, you can get started today. The sooner you start the process, the sooner you could get up to $15,000 in emergency cash so you can finally start paying your expenses with far less stress.