This new coffee hack is saving us an additional $510.50 this year

Before I begin with my post, I have to give a quick shout out to one of our family friends Janet and Hermes who introduced us to this new coffee hack! 🙂

Last year I wrote about how you can drink coffee twice a day and still save money. Since then, Vania and I have controlled our coffee spending by not going to Starbucks and Panther Coffee and replacing that with brewing coffee at home. I’ll admit there were times where we gave in to coffee shops, but I can count less than 5 instances and my friends like to bust my chops about it :p

Recently, Janet, Hermes, Vania and I were chatting about goals for 2018, finances, careers, etc. and Hermes shared how we can save even more money with our coffee consumption. You can only imagine how my eyebrows rose and my ears perked up.

Pre-2018 coffee consumption

Before introducing you to this new coffee hack let me remind you of our pre-2018 method. Vania and I would buy 1 pack of McCafe Premium Roast from Publix or Amazon a week and we each consume 1 cup of coffee in the morning. Sometimes the pack will last us a whole week or on the 6th day we will buy another pack to roll into the next week.

mcdonalds coffee

Let’s run some numbers based on Amazon’s pricing. This pack costs $12.67, so on a monthly basis coffee costs us $50.68 and $608.16 annually.

Personally, I’m comfortable with this kind of spending for coffee and this is certainly way better than our pre-June 2017 method when we were spending above $1,372.8 annually (and that’s being conservative).

Last year, we felt amazing with our new coffee trick because we were on track to save over $700 bucks annually, but this new trick is going to save us an additional $510.50!

New coffee hack

We may just be late to this game because we had no idea it existed, but there is something called a reusable Keurig cup and it looks like this:

refillable k cup

This is cool because for those of you who are environmentally conscious, this eliminates all of the K cups you throw away in the trash after you brewed a cup of coffee. Also, you can brew any coffee you’d like! This one time purchase of $7.78 offers great value and is the first part of the new coffee strategy.

Next, buy the ground coffee of your choice and buy it in bulk or in a large container. Vania and I chose Folgers Black Silk this past week and it only cost us $7.49 for 24 ounces of coffee.

folgers

A week has gone by and the amount of coffee remaining in the container made me realize just how great of a hack this new strategy is! Seriously, this coffee container will last us probably 6 weeks. BUT, let’s assume it only lasts for 1 month to keep things simple and to be able to forecast easily.

The numbers speak for themselves…the one time purchase of the reusable K cup = $7.78 + ($7.49 for the Folgers coffee x 12 months) = $97.66 for the entire year!!!!

OK, let me summarize…Vania and I went from spending $1,372.8++ annually prior to June 2017 to a forecasted spending of $608.16 to now only spend $97.66 annually! If you’re not as excited as I am, I’m not sure we can be friends (just kidding).

Total of $510.5 annual savings

Now, if you don’t have a Keurig and haven’t refined your coffee strategy, this is a great way to get started and make this part of your new years resolution.

Thinking out loud here, I don’t think it’s possible to save any more money from our coffee budget. $97.66 a year seems like the lowest we can go. Unless, we eliminate coffee completely but that won’t happen…my wife and I are both Hispanic and we’ve been consuming coffee since we were babies, lol.

In all seriousness, I’m grateful that our friends introduced us to this trick and especially at the time of the year they did. We immediately implemented their advice and this is going to help us achieve our savings and investment goals.

An extra $500 bucks in savings is a win in my book. So, what do you think about this new coffee hack? 🙂

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