How can you still save money if you don’t want to give up coffee?
Tip 10. Get a reusable cup
Most cafes these days offer a discount if you bring your own cup. Reusable cups, or ‘keep cups’ only cost about $10 or $15. If you’re someone who forgets to bring it, or leaves it in the dishwasher at work, buy a few so you’ll always have one handy. Not only will you save money, but you’ll be helping the planet too.
Tip 9. Prepay coffee
Cafes are starting to introduce prepaid coffee cards, where you purchase 10 coffees up front. The savings on these cards can be huge – sometimes the coffee works out at $3, no matter what you buy. These are a good investment if you always go to the same cafe. They’re even better if your preference is a more expensive coffee – like a mocha with alternative milk, because you’ll save even more.
Tip 8. Cut down
It’s easy for people who don’t drink coffee to say just stop buying it. But for those of us who love coffee, that’s an impossible task! So, if you’re determined to reduce your coffee spend, look at cutting down. If you buy two a day, reduce to one. Or get one every second day.
Tip 7. Ditch the extra items
Many of us are guilty of buying a muffin and coffee combo, or a snack at 10am to go with our coffee. These extra spends can add up faster than your regular coffee. Aim to just stick to coffee for a week or two, and bring snacks from home.
Tip 6. Swap to cash
Say you want to buy a coffee every work-day that costs $5. Get out $25 cash at the start of the week. If you overspend, then no more coffees for you. This technique can reduce mindless coffee buying, where we go to get another one because we’re simply bored.
Tip 5. Review your habit
If you’re someone who gets anxious, too much coffee can fuel this. We all know the feeling when we drink too much coffee. We usually feel more stressed than before, might get the shakes, and generally feel rubbish! So, review your habit and see if cutting down might be better for you.
Tip 4. Invest in a machine
This solution won’t work for everyone. If you have a long commute, your coffee will be finished by the time you arrive at work. And maybe it won’t taste as good? Plus, sometimes coffee machines cost a fair bit too.
Tip 3. Get committed to loyalty cards
Some cafes make you buy 10 coffees before you get a free one – ouch! Shop around for cafes that have better deals and promotions. Their coffee may be just as good.
Tip 2. Encourage your work to get a good machine
If you could make the perfect brew when you get to work, you might end up bypassing the cafe entirely. The problem for many of us is that instant coffee at work doesn’t do it for us. But if enough of you are behind the idea, your work may chip in for a good machine. Or, look at renting one as a trial.
Tip 1. Present ideas
If people ask you what you’d like for a birthday present, suggest a coffee card. These are fantastic for Secret Santa gifts, or just to say thanks. They’re a practical gift that will save you money.
Story by Claire Connell, JUNO
Information correct as at March 2020. Pie Funds Management Limited is the issuer and manager of the JUNO KiwiSaver Scheme. Click here for our Product Disclosure Statement. Any advice is given by Pie Funds Management Limited, and is general only. It relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees if you act on any advice. As manager of the Scheme we receive monthly fees that are determined by your balance and whether you are 13 years or over. We will benefit financially if you invest in our products. We manage any conflicts of interest via an internal compliance framework designed to ensure we meet our duties to you. For information about the advice we can provide, our duties and complaint process and how disputes can be resolved, visit www.junokiwisaver.co.nz. All content is correct at time of publication date, unless otherwise indicated. Past performance is not a guarantee of future returns. Returns can be negative as well as positive and returns over different periods may vary. Please let us know if you would like a hard copy of this disclosure information.