Money

Coffee machine – to buy or not to buy?

Published on August 10, 2015 10:03 am, by

I am a self confessed coffee addict.  And so is my husband.  I don’t like instant, I don’t like stove top and I don’t like percolated.   

After years of pretending to listen to advice on quick win savings by working out how much you spend on things like your daily take away coffee, I finally stopped pretending.  It was around the time our weekend take away coffee habit escalated to 3 cups a day (1 each per child under 8).

Current spend –

Some quick calculations on what we were spending gave us the scary total of $166 per week.

Annual spend $8,632.  Figure breakdown for those interested is below**

Coffee machine outlay

One off

  • Coffee machine purchase = $500
  • Grinder = $200

Annual

  • Service = $100 to $150
  • Coffee Beans = $600**
  • Milk = $520**

Year 1 Annual Spend (no service)  – $1,930
Year 2 Annual Spend – $1,330
Year 3 Annual Spend – $1,330

New Current spend –

In the interest of full disclosure I will say that we each purchase one take away coffee per working day.  So that adds $36 per week/ $1872 per year.  However $1,872 + $1,330 = $3,202 per year and is a stack less than $8,632.

Annual spend $3,202 

TOTAL ANNUAL SAVING $5,430

Run the numbers yourself.  You might not be as addicted as me, but it’s not so hard to make some savings.  We did recently upgrade to a bigger, better, stronger coffee machine, but we are still a long way ahead.  And these days it disappoints me if I spent $4.50 on a cup of coffee and I can make it better at home.

Best purchase ever 🙂

 

**Calculations as promised –

Take away before machine purchase

$166 per week is based on $4.50 per coffee based on a large for him, regular with extra shot for me

5 between us per week day = $22.50 per day = $112.50 per week

6 between us each weekend day = $27 per day =$54 per week

Milk & Beans break down –

Lots of milk = $10 per week = $520
Bag of coffee (1kg) = $38 – purchasing once every 3 weeks = approx. $660

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Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.

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