I get it. I won't argue that fact. I myself find myself indulging in a nice $5 vanilla latte every now and then! The point of this post is to inform. Inform people how much money their daily Starbucks kick is actually costing them in both the long and short term. Starbucks has followed suit with other major food chains like McDonalds and Dunkin Donuts in that they've increased their prices in recent years due to a rise in the cost of commodities.
Before I go over how much Starbucks is costing you, I'd like to go over the reasons customers stay loyal to Starbucks.
I have to believe this is the #1 reason. Starbucks is incredibly convenient. You can order on your phone, walk in and your drink is waiting for you. Alternatively, Starbucks stores are everywhere. If you're out walking you'll more than likely walk by one or two stores. It's easy to just walk in and grab a drink.
Some might say the quality of their coffee is the main reason people keep coming back. I have a hard time believing that. Here's why: If someone were to ask you "where is your favorite cup of coffee?" I don't believe most would say Starbucks. More likely than not, the answer would be "a local roaster" or "this one coffee bar in Europe".
I'll admit it - some of their drinks are pretty delicious. I'm a sucker for whipped cream so they'll get me every time. Unfortunately, I'll pay for those drinks with more than just cash. My belt size will also take a hit. The amount of calories in some of their drinks is astounding. Some of their mochas, depending on the size you order, can contain upwards of 600 calories! 600 calories! That's almost an entire meal!
Now. Lets dig in to what your Starbucks obsession is costing you. If you're looking to save, consider investing in a home espresso machine. They'll save you thousands and make considerably better coffee.
Let say you go into Starbucks every day. Depending on the size and drink you order, you'll spend, on average, anywhere between $3.43 and $4.43. Now, I've seen my wife spend more than $7 on a single drink so remember, those are just averages.
"on average, anywhere between $3.43 and $4.43."
If you're ordering a tall drink it's costing you, on average, $3.34 daily, $1,221 annually and $6,105 over 5 years!
A grande drink? $4.10 daily, $1,459 annually and $7,295 over 5 years.
A venti? $4.43 daily, $1,577 annually and a whopping $7,885 over 5 years.
Thats a good chunk of change on burnt coffee.
This isn't even taking into account the amount you could've made investing that money.
I'm not suggesting you quit going to Starbucks but rather to be aware and look at what you're spending. If you don't care, more power to you but there are cheaper options. Investing in a Rocket Espresso Machine and grinder may seem expensive up front but when you look at the long run and how much money they'll save you - I'm confident you'll come to the conclusion they'll save you thousands. Of course, there are cheaper options. Simply by going to Amazon.com and searching for "espresso machine" can get you a machine capable of making espresso on par, if not better, than what you get at Starbucks. You can even buy their syrups!
In addition to the savings, the coffee they make is head over heels better than Starbucks - this I can promise you.