How Do You Take Your Coffee?
There are some luxuries in life that we definitely don’t want to do without. I’m no coffee connoisseur, but I do like a fresh coffee when I wake up, one at some point mid-morning and possibly one after lunch to keep me sharp for the afternoon.
It was more by luck than judgment that I have started getting a monthly order of coffee delivered (initially to support a friend’s business and now is it a staple of my morning routine) for a mere £20 per month. With lock down changing a few habits, I will now only go out for coffee if I’m catching up with a friend or having a meeting with someone and so I did a quick calculation to see how much I was saving by changing the way I drink my coffee.
Using the assumption that the average coffee would be around £3.50 (because every now and again the blueberry muffin will undoubtedly accompany said coffee, we all know its true). And assuming I was having 3 coffees per day. An annual coffee spend racks up to somewhere north of £3,800.
With my monthly subscription of £20, that is an annual tally of £240. Even if I doubled my subscription or went out for a coffee each week there would still be £3,000+ of saving.
Now if those savings were invested into something producing on average a 6% annual return, in ten years time there could be a nice extra pot of circa £50K. Or to look at that differently; a deposit to help a child get on the housing ladder or help with university costs or enjoy a holiday each year paid for with the returns!
Am I saying we should give up coffee? Absolutely not. I am merely highlighting the fact that some of the smallest behavioural adjustments, conducted over a prolonged period can have a great effect.
For me, it is so much easier to reframe and enjoy my coffee at home and look forward to a sunny holiday rather than feel I’m denying myself a caffeinated luxury!!