We've all heard the joke that young people could afford to buy a house if they stopped spending money on avocados and take-out coffee. But how much is your daily coffee habit actually costing you?
According to Which, you can rack up an additional £712 a year simply by spending £1.95 on a simple coffee from a café every day - and that's before you get into the pricier lattes, cappuccinos and mochas. Per month this is £60, and over five years, £3,559.
A home coffee machine, however, could save you a significant account.
A pod machine costs around £95 up front, an espresso machine costs £70, and bean-to-cup is the most expensive at £290. After five years, the costs will add up to £1,153, £647, and £867, respectively. This means if you replace your daily Starbucks with the cheapest option, an espresso machine, you can save £2,912 every five years.
The cost in the machines tends to come down to the brand of coffee pods. For example, Nespresso pods are £3.60 for a pack of 10, whereas Illy Espresso Ground Coffee is £5.50 a tin.
You would need 7g of ground coffee, so 15p a drink - which is cheaper than the 36p each pod averages out. However, Aldi's cheaper compatible pods - Alcafé - work out at 14p a drink.
But overall the results are in - you get more for your money by buying tinned pre-ground coffee. Ground coffee is also better for the planet, as the pods are rarely recyclable.
At the end of the day, the best way to save money is to make up your coffee - which is pre-ground - at home, and filling up a flask to keep it warm for your journey to work. Or invest in a cafetiere to keep on your desk.
If you really can't give up your Starbuck or Pret habit, join a loyalty scheme to get the occasional free cup.
