Coffee. Let’s face it; it’s what keeps this campus running, what keeps us from falling asleep in the library on those late nights and what barely gets us to go to that annoyingly early 8:00 a.m. class.
But while we all know how this wonderfully caffeinated beverage affects our academic life in sometimes magical ways, not all of us think about how much it is affecting our wallets.
According to Forbes Magazine, the average cost of a typical cup of coffee is $1.45, with an annual spending amount of $358. Of course, with Caribou Coffee and Starbucks locations all over Fargo, we all know that getting a decent latte costs us a bit more than $1.45. Say, between $2 to $5.
We are college students. We barely have enough cash to cover filling up our gas tanks, let alone throw away $358 or more for a beverage we have the ability to make at home.
It is amazing how much money can be saved by making your own coffee. Whether it’s a classic Mr. Coffee machine, or a new-age Keurig, these machines can pretty much buy themselves after a while.
Personally, I am a habitual coffee drinker. For a while, I settled for the sub-par dining center coffee and then gradually moved to Caribou or campus coffee shop outings. But around Christmas-time, I caved in and purchased a Keurig.
A bit of an impulse buy, I admit, but rather than spending roughly $4 on coffee five times per week at Caribou or the campus coffee shops (averaging $20 a week), I made one purchase of $109 along with another $20 for the K-cups used to brew coffee.
The cost of my Keurig and accompanying K-cups would buy me roughly six weeks worth of coffee. But with it, I have an unlimited supply of caffeinated goodness that I can access 24/7 to keep me alive during finals week.
Think about it; spend $358 or more per year or cut the price in half (or lower) by doing it yourself. You don’t have to be an extreme couponer to save hundreds of dollars in college.