If you had Php 34,800, what would you do with it? Some might grab the chance to get a new phone; others, a new laptop or a vacation abroad. It seems like a difficult goal, but it’s definitely doable. It just takes a little sacrifice and a lot less coffee.
For hardworking adults, that high quality coffee is essential to survive a busy day, but buying coffee from Starbucks and other coffee chains everyday can add up to a lot. Check the infographic below and see how avoiding expensive coffee can save you as much as P34,800 a year. We used Starbucks as an example, because who doesn’t love that White Chocolate Mocha or Caramel Macchiato?
It sounds almost impossible that you’re spending this much without even realizing it. As the saying goes: “big things have small beginnings,” meaning that little expenditures do add up. One of those? Your daily coffee run.
Did you know?
80% of Filipinos drink 2.5 cups of coffee a day
20% of customers go to Starbucks 4 times a week
Now, that sounds expensive…
The Numbers Game
Looking at someone who spends Php 145 a day, five times a week on a cup of Starbucks. How much does that add up to in a year?
Weekly: Php 725
(Php 145 x 5 )
Monthly: Php 2,900
(Php 725 x 4)
Yearly: Php 34,800
(Php 2,900 X 12)
But I need my Starbucks!
Instead of drinking that special brew daily, why not treat it as a gift to yourself at the end of the week for a job well done?
Rewarding yourself with a cup of coffee at the end of the work week will keep you happy…and sane, but the best part? You’ll have more to spend on other things, so just how much will you save by cutting back on that daily habit and turning it into a weekly one?
Weekly: Php 145
(Php 145 x 4)
Yearly: Php 6,960
(Php 580 X 12)
Savings: Php 27,840
With Php 27,840, there are a lot of things you can do or buy. You can put it in your savings account or allocate it to other expenses such as your mortgage or car insurance payments. Reducing your Starbucks intake may be a hard habit to break, but as the saying goes, “nothing good ever comes easy.”
Got a friend who’s addicted to Starbucks? Share this article with them and let us know how they felt in the comments!
With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.