Facing the "Latte a Day" Problem

The first way we’re going to tackle this budget problem is to take a look at our eating habits.

How often do you eat out? Do you pay every time, or do you have a roommate, parent, or significant other who picks up the tab once in a while? When you eat out, how much do you spend on a plate? Do you eat it all in one sitting, or do you buy enough to have leftovers the next day?

First things first.
If you eat out (including fast food!) 15 times a week, you’ll have more cutting back to do than someone who takes it outside of the dining room, say, three times a week. I’m including anything that costs over $3 in this scenario. Yes, the double tall nonfat latte counts as ‘eating out’ for breakfast.

Hypothetical. Say you purchase one latte a day during the work week. Five lattes over one week. You’re a Starbucks patron, and fork over $3.63ish for a grande vanilla nonfat latte. You’ve spent $943.80 over the course of a year—that’s IF you don’t cave and add on a cinnamon roll or bagel or an extra shot.

One way I've been able to combat my own coffee spending habits, stay caffeinated, and continue supporting the coffee empire, is to brew my own joe at home. I have a French press, a $2 milk frother from IKEA, and always fresh milk and sugar. I'm able to make exactly the type of coffee I want--an au lait, with frothy milk--for a fraction of the cost. Plus, I get to skip the trip.

Having worked at a couple of coffeeshops, I know that baristas rely on in-store sales. If you want to continue supporting your local barista, be sure to purchase the pound of coffee in your favorite shop, and maybe splurge for the latte while you're there.

Tomorrow I'll bring you some of my favorite cost-effective recipes (and gourmet, too), and over the course of the week we will tackle leftovers and avoiding the last-minute invitation to lunch with coworkers.

In weeks to come, we'll branch out into cost-effective ways to do crafts: magnets, jewelry, paintings, and more. Stay tuned! No need to quit being creative just because your budget is in your way.

Happy saving!