Why Money Matters

Rubbing Pennies started as a personal challenge to save $10,000 in one calendar year. As a young couple, we (Ian and Jen) know how important it is to live within your means, avoid acquiring a lot of debt and have a healthy financial cushion to fall on in case of emergency. On April 10, 2010, we set out on the journey of marriage with two steady incomes, a newly purchased home, one vehicle payment, and a very modest savings account. In an effort to beef up our piggy bank, we launched Rubbing Pennies in January 2012. This is our story of how we love the life we live, and how we can afford it.

Monday, January 9, 2012

Coffee Costing You Lots?

   If you are a coffee person and you're "outsourcing" for your caffeine fix, you're tossing a lot of money down the drain that could be in your piggy bank. Whether it's one cup in the morning and the occasional afternoon pick-me-up, or if you drink it all day long - slightly unhealthy by the way - there is much to be saved by changing your coffee intake habits.
   Let's say you stop at McDonald's or Dunkin Donuts each morning for a regular cup of Joe. That's roughly $1.50/day = $7.50/week = $30/month = $360/year (based on a M-F schedule) just for your daily cup of coffee! If you like foofoo coffee, like me - caramel latte or frapachino something or other - then you're looking at $2-3 per drink, roughly $600/year. If you're a Starbucks coffee drinker, you're looking at even more.
   Do I recommend boycotting coffee shops? No, of course not. But I do recommend brewing your own coffee at home before you leave for work, or brewing it at the office for your daily coffee fix. The occasional cup of gourmet coffee is a splurge everyone needs to decide if they can afford individaully. A 40 oz. tub of ground coffee will run you about $12.50 and last about 2 months. That's maybe $75 a year in coffee - a gigantic savings!
   If you decide you'd like to start brewing your own coffee, or you already do at home but you'd like to start at work, don't run out and by a $40 coffee pot. Check out your local thrift store's appliance section and pick one up for a couple dollars (you might want to find an electrical outlet in the store and plug it in to be sure the warmer plate works before you make the purchase). There are dozens of flavored creamers or even flavored coffees on the market that will give you the same gourmet taste that Starbucks delivers but for a fraction of the price.
   **Bonus: Invest in a good reusable/travel coffee cup like a Tervis Tumbler instead of using disposable cups to save even more money!

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