I’ll admit it – I was a Starbucks coffee addict during my college days. Every morning, no matter how early (or late) I woke, I made sure to get my daily fix.
It was almost like clockwork – a grande Peppermint Mocha with caramel sprinkles, extra cream, and sugar. Even though I knew it was expensive 💰💵, the smell of freshly brewed coffee and the warmth of my cup were something that made me feel like I could tackle anything. (** stressing over exams, all-night studying sessions, and my general distaste for early classes**)
Before I knew it, my coffee habit had become a full-blown addiction. I was visiting Starbucks multiple times a day and spending way more than I wanted to. I thought I was just treating myself to a latte here and there, but it wasn’t until I checked my bank account at the end of the semester that I realized how much I had actually spent.
That’s when I figured out the importance of budgeting for coffee and started making small changes.
Related: How to Budget as a College Student: The Basics You Need to Know
Related: Collegiate Financial Goals: How to Spend Your Money Wisely!
I invested in a coffee maker so that I could make coffee at home, and chose cheaper options when I was out and about. But those weren’t the only solutions to my problem. I also started staggering my trips to Starbucks ✨ throughout the week, so I wouldn’t be spending money every day. And on the days that I did splurge, I would order a smaller size.
My wallet 👛 was quickly thanking me as I started to see the results of my budgeting efforts.
So if you’re trying to curb your coffee cravings to save some money, I’d suggest trying out some of my budgeting tips.
“I won’t give up my daily cup of coffee, it’s the one little luxury I have.” – Every College Student Ever
Every college student understands the sentiment that coffee is a daily essential – it’s like our magical elixir, the only thing we can afford, and the warmth and feel of fresh brew in our hands is heavenly. No one can deny that!
That morning trip to Starbucks or Tim Hortons isn’t just about getting a caffeine fix, it’s almost like a ritual – an essential part of starting the day. I get it – I was totally there! 🙈
For the first two years of college – I would roll out of bed, half-asleep and in desperate need of a cup of coffee, and would head to the nearest Starbucks. I was mesmerized by all the different drinks on offer, and somehow I always managed to find a way to afford them – even when my bank account was at an all-time low. So I truly understand the sentiment and am totally with you guys on this!
But here’s the thing – that daily coffee run can quickly add up and burn a hole in your wallet. I’m not talking about the coffee you make at home, but rather the coffee you buy.
If you find yourself in any of the following situations, it may be time to cut back on your caffeine-fix runs from Starbucks (or wherever else you get coffee):
- If you’re spending more than $5 on a single cup of coffee ✔️
- If you’re visiting the same coffee shop multiple times in a day ✔️
- If you’re relying more on coffee than sleep to get through the day ✔️
- If you’re starting to find yourself short on cash more often ✔️
All of these are signs that it’s time to take control of your coffee spending. So how do you do that without giving up your favorite cup of coffee?
Coffee Budgeting Hacks for College Students: How to Enjoy Delicious Brews on a Budget
The trick to saving money on coffee without forgoing your favorite drinks is Budgeting. You need to set a realistic limit that you won’t exceed and then start tracking your spending. Here are some tips to help you budget for coffee like a pro:
Related: How to Save Money as a College Student: 8+ Amazing Hacks
1 . Invest in a good quality coffee maker!
Take it from me – having your own coffee machine at home will save you so many trips to the store. Plus, it’ll help you make delicious coffee just like a barista!
For instance, I use my machine to make lattes, cappuccinos, and even mochas – all without the hefty price tag. So say goodbye to hefty coffee bills and hello to gourmet drinks in the comfort of your dorm room.
2 . Create a Coffee Budget to Save money in College
If you’re trying to cut back on the amount of coffee you buy, the first step is setting a budget.
I highly recommend writing down all your purchases in a notebook or using an app to track your spending. That way, you can easily keep tabs on how much money you have spent on coffee and make adjustments as needed.
Plus, it’s always an added bonus to be able to look back on your purchases and laugh at how many times you’ve gone back for a refill – or made a new, but unnecessary, coffee-related purchase. It’s a great way to stay mindful of how much you’re spending!
Related: How to Budget as a College Student: The Basics You Need to Know
3. Choose a smaller size when ordering
If you find yourself standing in line at a coffee shop and debating between small or large, here’s my advice: go for the smaller size and save some money.
I’m all about treating yourself but sometimes a little restraint can go a long way. That little bit of extra cash can be the difference between a happy Monday morning and a stressful one.
Plus, the coffee gods will thank you 🙏🏼 for taking it easy on your wallet!
4. Take advantage of store loyalty programs
One of the best ways to save is by signing up for coffee shop loyalty programs. I mean, who doesn’t love a good deal?
Many stores offer discounts and freebies with every purchase, so it’s worth the effort to sign up for their loyalty programs.
I’ve been a member of my favorite coffee chain’s loyalty program for years now, and I have to say it’s been worth every penny. Plus, they always reward me with free coffee or treats on my birthday! So what’s not to love?
5. Try to limit yourself to one coffee a day
It’s definitely not easy to limit yourself to just one coffee a day – especially when your days are long and exhausting and all you need is a caffeine hit to get you through.
But if you can muster up the self-control and stick to one cup of coffee a day, it definitely pays off. I’ve saved so much money by limiting myself to one cup – it’s like a mini victory each day!
Plus, budgeting for coffee also helps you appreciate each cup even more – so it’s a win-win. And you can always reward yourself with a bigger cup once in a while if you really need it.
6. Stagger your trips to the coffee shop
It can be hard to resist the temptation of getting a daily cup of coffee but staggering your coffee trips is the way to go – instead of treating yourself every single day, plan out your trips to the coffee shop and enjoy a cup of coffee a couple of times per week. That way you won’t feel deprived, but you’re also not overspending.
Think of it this way – instead of having an expensive coffee every day, you’re giving yourself permission to splurge and treat yourself a few times a week! It’s like a reward system – and it works.
7. Cut back on extras: Saving money on Coffee in College
Even if you’re someone who likes their coffee black, it’s easy to get caught up in the allure of extras. (*Hint* Sure, a muffin or bagel sounds delicious with your joe. How about tossing in a few extra shots of espresso for good measure? *Hint) 🥯🍩
The prices of these little extras add up quickly and before you know it, you’re forking over way more than what you initially intended. So if you’re trying to save money on coffee, make sure to keep your orders simple and steer clear of add-ons.
So there you have it – coffee budgeting for college students in a nutshell.
The next time you’re tempted to run out and grab a cup of coffee, take a moment to reflect on whether it is worth it. I mean, why not save that money for something even better? Like a new book, or even a trip to the movie theatre?
After all, it’s all about making those smart financial decisions and being mindful of where your money is going.
And that freshly brewed cup of Starbucks coffee? Well, you can save it for another day!
Coffee is like a hug in a mug – but it’s best to budget those hugs so you don’t break the bank!
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