Saving money is an important part of financial planning, and one way to do this is by reducing the amount you spend on coffee.
In this article, we explore how much money you can possibly save annually and identify a few homemade coffee recipes you can use to make popular coffee drinks.
It’s time to enjoy your favorite cup of coffee without breaking the bank!
How Much Money You Can Actually Save On Coffee Drinks
Let’s look at the numbers here – that’s $4.80 per cup of venti-size Coffee Frappuccino twenty days a month, every year. That comes to… an amazing $1,152.00! ($4.80x20x12) per year.
Wow! Imagine the possibilities if you saved up $1,152 or $96 monthly by not buying Starbucks drinks. It may sound like peanuts, but it could go a long way.
Now consider investing just $96 per month over a 5-year period at a 7% annual return compounded monthly accumulates a whopping $1,112.92 – not bad.
Calculating Compound Interest
Figuring out compound interest can be tedious and frustrating. With a compound interest calculator, though, you can save yourself time and effort!
What’s great is that you don’t have to worry about any miscalculations, as the calculator does all the crunching for you!
Astonishingly, two separate compound interest calculators – one from Money Chimp and the other from The Calculator Site – were utilized to obtain the figures in the calculation above.
Both compound interest calculators worked fantastically, but I found The Calculator Site’s one to be particularly useful, as it provided more comprehensive data.
If the only thing you need is to predict the future value, Money Chimp has got you covered.
Therefore, before you spend your money on that daily vanilla latte, it’s important to consider the ‘opportunity cost’- what else could you do with the same amount of money? Why not invest it in something more meaningful and rewarding -like Starbucks stock?
Talk about a major investment pay-off! In the last 10 years, the ROI for Starbucks stocks has been nothing short of remarkable, sure to have you beaming with satisfaction.
DIY Coffee Drink Recipes
DIY coffee drink recipes are becoming more popular as they provide an easy way to make delicious, homemade coffee drinks with minimal effort and cost.
So, let’s get started and explore these four amazing recipes that you can make for yourself or your loved ones and save money all year round!
Peppermint Mocha Latte
The Peppermint Mocha Latte is a delicious and festive holiday drink that can be enjoyed all year round. It’s easy to make and requires just a few simple steps.
With its combination of peppermint, chocolate, and coffee flavors, it’s certain to be a hit with everyone who tries it!
Homemade Mocha Latte
Making a homemade mocha latte is a great way to enjoy a delicious and creamy coffee drink without having to leave the house. With just a few simple steps, you can make your own mocha latte in no time.
Whether you’re looking for an afternoon pick-me-up or just want to treat yourself, this recipe will help you make the perfect homemade mocha latte.
Ice Caramel Latte
Ice Caramel Latte is a delicious and refreshing beverage that can be enjoyed all year round. It’s easy to make and requires only a few simple steps.
With the right ingredients, you can make an Ice Caramel Latte that will tantalize your taste buds and leave you wanting more. Try this amazing Ice Caramel Latte recipe! It’s a great way to indulge in something sweet and satisfying.
Caramel Frappuccino Recipe – Starbucks Copycat Coffee Drink
If you cannot do without Starbucks’ Caramel Frappuccino, then don’t worry, this copycat recipe have you covered.
This recipe will show you how to make a delicious and creamy Caramel Frappuccino that tastes just like the one from Starbucks.
Follow the steps below to make your own copycat version of this popular coffee drink.
Developing Money-Saving Habits
Saving money is an important part of financial planning, and one of the easiest ways to do so is by cutting back on small expenses such as coffee.
While it may seem insignificant in the short term, these small savings can add up to a significant amount over time.
With a few simple strategies, you can easily save money on your coffee purchases and put that extra cash towards more important goals.