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Posted: 9:21 a.m. Wednesday, March 5, 2014

How much is your coffee habit costing you?



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Michael Timmermann of SaveonAlmostEverything.com

By Mike Timmermann, Contributor

ClarkHoward.com


Americans love their coffee. According to the National Coffee Association, 83 percent of us are coffee drinkers. But how much is your habit really costing you?

Stand in line at your favorite coffee shop and you'll spend $2 a cup. And that's just for coffee. Some lattes cost twice as much.

Brewing coffee at home takes more effort, but it can save you hundreds of dollars a year.

Take a look at this price comparison between buying a cup of coffee at a restaurant versus making it at home.

BOUGHT AT RESTAURANT

  • Medium Dunkin Donuts hot coffee
  • $1.89 before tax
  • 14 fluid ounces
  • 13.5 cents per fluid ounce

BREWED AT HOME

  • 12-ounce bag Dunkin Donuts ground coffee
  • $7.99 before tax
  • Makes up to 40 cups, 6 fluid ounces each
  • 3.3 cents per fluid ounce

The price of creamer, sweetener, filters, and the coffee maker itself are not included in the comparison. But you can see the difference. It’s drastic.

According to this example, it's about four times more expensive to get your daily jolt at the restaurant.

Over time, it really adds up:

 RESTAURANTHOMEDIFFERENCE
ONE DAY$1.89$0.46$1.43
30 DAYS$56.70$13.80$42.90
180 DAYS$340.20$82.80$257.40
365 DAYS$689.85$167.90$521.95


(Editor’s note: Data based on 14-fluid ounce cup of coffee) 

 Just think about what you could do with that extra $500 a year.

Want to save even more? Try experimenting with inexpensive brands of ground coffee, which are often just as good.

What’s your favorite coffee to brew at home? Share it below.

Freelance journalist Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.

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