If you made your coffee instead of buying one at a coffee shop every day for a year, how much money could you save? This may sound like a rhetorical question, but we decided to grind the numbers.
Here’s how much money you could save (tax included) if you skipped the line at Tim Hortons, McDonald’s, or Starbucks and bought the ingredients yourself. For our purposes, we are looking at a small coffee cup and not factoring in the price of milk or sweetener.
On the Menu
- At Tim Hortons, a small coffee (295 ml) is $1.60 per cup. One cup every day for a year costs $584.00.
- At McDonald’s, a small coffee (285 ml) is $1.67 per cup. One every day for a year costs $609.55.
- At Starbucks, a short (small) coffee (236 ml) is $2.52 per cup. One every day for a year costs $919.80.
For our calculations, we’ll use the President’s Choice brand of coffee. This brand is about twice the price of Folgers or Maxwell House, but less expensive than Nabob, Tim Hortons, McCafe and Kicking Horse.
There are approximately 5 g of coffee (ground or beans) per tablespoon and two tablespoons per 250 ml cup of coffee. So, one cup of coffee equals 10 g of coffee grounds or beans.
- At Superstore, a canister of President’s Choice ground coffee (930 g) is $13.98.
- At 10 g per cup of coffee, one canister is equivalent to 93 cups of coffee.
- You need 3.92 canisters of coffee to make a cup every day for a year.
- Making one cup of coffee every day for a year costs $54.80.
So, How Much Can You Save?
Making your coffee at home instead of a coffee shop can save you up to $865 per year. Why not put that money into a savings account and save for something bigger than a cup of coffee.
Source: Credit Union Central of Manitoba