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It is an interesting phenomena, because it's a relatively expensive product for what it is, but it's also an experience. Even though my wife and I do quite wel
by bonestamp2 8y ago
It is an interesting phenomena, because it's a relatively expensive product for what it is, but it's also an experience.
Even though my wife and I do quite well financially (and save plenty for ourselves, our kids college, etc), I noticed we were spending "too much" on espressos and lattes. Not too much for our financial situation, but too much for my comfort level at least. So, we bought a $600 espresso machine, which basically paid for itself in less than a year. Not to mention the time savings from going to get coffee.
I was fully offering to make my wife's Latte every morning, although no pressure if she still preferred to pick one up. I figured if I stopped buying them it would still be decent savings. She wasn't all that keen on me making them for her... at least at first.
The most surprising part though is that the lattes are actually better. I started out just trying to save a bit of money and naively assumed that somebody making hundreds of lattes per day would be far better at it than me, and maybe they can be, but perhaps due to the speed demand they cut corners. The consistency is off too, sometimes when I buy a latte it's very good and other times it's not. At home, I can (now) make it perfect every single time and it only takes 5 minutes including cleanup.
Of course, I've discovered some other great things along the way like "steamed in" cinnamon and/or tumeric or adding baileys to lattes on the weekend or eggnog to lattes during the holidays.
There is a bit of a ritual/experience to picking up coffee, and you lose that, but you gain a whole new ritual of making your perfect coffee for yourself... and even if you still pickup once in a while, you're still saving in the long run.
- bluedino 8y agoI could drink coffee/tea at home - but I use going to get a drink as an excuse for getting out of the house for a bit.
- _delirium 8y agoSame for me: spending time in a coffee shop is part of the value proposition, not wasted time! Buying a latte provides the excuse to hang out there for an hour or so.
- felipemnoa 8y agoThe fee of a Starbucks coffee is just the price of a co-working office space in my case. Well worth it. Much cheaper than using WeWork.
- bonestamp2 8y agoI do too, just not as often as I used to, and I think about other places now too.
- shostack 8y agoI did a similar switch and made a spreadsheet to model it all out. I lost money in the first year, and ended up saving roughly $500/year every subsequent year. And that was after buying a $400 grinder and $700 espresso machine and misc. accessories. And also with upping the frequency with which I drank coffee since I'm buying bags of beans now. For those with expensive coffee habits, it is ABSOLUTELY possible to save a bunch of money annually, and drink coffee that is much better and more consistent than many decent cafes once you learn what you're doing, figure out what beans you like, and learn to dial in the grind. I'm now tempted to get into home roasting to save even more since the green beans keep a really long time.
- bonestamp2 8y agoThanks for your reply! I'm happy to know that others have had similar success.