The price of coffee has been increasing over the years. Back in the 1920s, a cup of coffee from a shop would have cost $0.15. By 2019, it already ballooned to $3.20. How can you make it easier on the pocket? Here are some tips that can help you.
- Get Your Coffee Online
In many ways, when you buy coffee online, you can save more money. It is because of how the supply chain works. For that, here’s some math.
Let’s assume that the price of coffee beans from farmers cost $2 a pound. Once it reaches the wholesaler, the business may add at least 30% to that price. Retailers would then buy it for about $2.60 a pound.
Retailers, though, also need to earn. Thus, they add their markup, which could be 50% of the original price if it’s a popular coffee brand. That means you may have to spend over $3 for a pound of coffee. It may not be much but think about the total cost at the end of the year if you drink it every day.
All participants in the supply chain consider many factors for pricing. These include fuel, logistics, labour, and even packaging.
When you buy your coffee online, you can remove many of the associated costs in the supply chain. Even better, with the savings, businesses can increase their markup while remaining competitive and buying coffee beans directly from the farmers at a slightly higher price.
- Buy Coffee Online in Bulk
Coffee is one of the essential items you can buy in bulk since you can store them for a long period. You can still roast those beans a few weeks after the expiration date. Ground beans, for instance, can last for two decades.
However, storing them properly matters. If you don’t plan to drink a lot for the month, consider buying beans instead of ground coffee instead. The shell will act as a protective layer, keeping the freshness, aroma, and overall quality of the coffee.
Otherwise, you can buy coffee online and place the beans or the coffee grounds in an airtight sealable container. Don’t let air and moisture deteriorate the quality of your purchase.
- Skip the Coffee Shops When You Can
Coffee shops like Starbucks can make lives easier, but they can also burn a hole in people’s pockets. It could cost you as much as $2,200 a year if you buy a cup every day. You can use even half of that to pay your student loans, utilities, or mortgage.
What can you do to save money? First, you can invest in a smart coffeemaker. It allows you to automate the brewing process. By the time you wake up, a cup of joe is already waiting for you. A Hamilton Beach programmable machine costs less than $100 on Amazon.
Second, you can prepare your coffee each week. You can brew some and place them in ice-cube trays. Once you’re ready to drink them, boil water and add your cubes. Another option is to place cubes in a mug and use your microwave oven.
Coffee is the elixir for the tired and weary, the night owls, the struggling students, and anybody who needs a jolt from time to time. No wonder it’s one of the world’s favourite drinks.
However, it need not drain your hard-earned cash. You can be smart and consider these cost-effective ideas.