Did you know that buying a takeaway coffee every day is probably costing you more than your annual electricity bill?
Millions of Australians enjoy a coffee from their local café to kick-start their working day, or while they chat with friends on a lazy weekend. In fact, the national obsession is now costing us more than $3 billion a year.
That figure is incredible enough, but if you are one of many who can’t resist grabbing a lovely latte or creamy cappuccino every day of the week, chances are you’re spending around $1,500 a year on your caffeine fix – more than the average Queensland household spends on its annual electricity bill, according to the 2013 Residential Electricity Price Trends report.
Our research shows that more than half of espresso machine owners actually prefer the coffee they make at home to what they buy from their local café. But only one in five of those surveyed said they bought their coffee machine in order to save money.
However, with the average Queensland household spending just under $1,300 on its electricity use, switching to homemade coffee could be the best money-saving move you make in the new financial year.
Respondents to our survey spent an average of $296 on their espresso machine. However, that cost could be cut dramatically if you shop around. ALDI picked up this year’s Most Satisfied Customers Award for its brand of espresso machines – which you could pick up for as little as $89.
Even if you factor in the average cost of coffee capsules, electricity, water and milk over 12 months, you’re still on your way to a saving of around $1,200 each year – enough to buy a brand new 50-inch LCD TV or return flights from Brisbane to Bangkok, with plenty of spending money left over.
And if you down two takeaway coffees a day, you could even end up saving yourself around $2,500.
Now, how much better is the coffee from your local café?