Smoking and Drinking Coffee Can Make You Go Broke
Now, this is not suggest that you should quit either of these habits as your body is your body, however, if you want to sock away some more of the green stuff, you may need to take a look at how your habits are affecting your finances.
Take for example your coffee drinking. Now, if you average only one large coffee at a big retailer like Dunkin Donuts or Starbucks every day, then you are looking at about $4.00 per day after you tip. Now let's do a little simple math:
$4.00 per day X 365 days per year = $1,460
This is nothing new as many, including myself, have written about the 'cappuccino effect.' However, it is always surprising to many when I run these numbers and I've seen many jaws drop as a result of learning this. Now the simple solution to this quandary is to make your own coffee everyday and instead of spending almost $30 per week, you'll be spending under $10. That extra $20 can go in your pocket for an annual savings of about $1,040.00.
Now let's look at your smoking habits. While most people smoke more than a pack a day, I will use one pack to keep it simple. I just saw an advertisement at Circle K that said Marlboro cigarettes were on sale for $4.44 per pack. Knowing that you can get a discount for buying a carton, assume that you will pay an average of $4.00 per day to smoke. That's another $1,460.00 per year. Now, you can save money by smoking less expensive cigarettes, or better yet you can quit all together and really see a dramatic savings, not to mention better health.
So, in total, if you smoke and drink coffee everyday you are spending $2920.00 every year and that's if your habits are conservative. That's a little more than $243.00 each and every month. So, you can see how drinking coffee and smoking cigarettes can make you go broke.
Again, this is not an attempt to make you quit your bad habits, but simply to make you more aware of what you are spending to feed your bad habits. That $243.00 per month could be spent on your car payment, your mortgage payment, or just be put into your savings. Sometimes, in order to keep more of what you make, you have to change your life just a bit.
Source: Circle K, Current Promotions, Circlekflorida.com
Published by Jimmy Collins - Featured Contributor in Business & Finance
Full time freelance writer. I am a former stock broker and money manager who still loves all aspects of finance as well as sports and fitness. Currently I hold a 4th degree black belt in the Martial Art of T... View profile
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34 Comments
Post a CommentYou got that right! I know three people that spend $12.00 per day on their nasty cigarette habit, and coffee from high end stores like Starbucks can be a fortune. Excellent article.
Smoking used to cost me $40 a week- but lemme tell ya, if you love to smoke, money is no option. You will walk to work to save money and still puff away. I used to skip buying lunch at work and dig for change to put gas in my car while still paying cash for smokes. Ha ha. Believe me, if people COULD quit smoking to save money, they would. We know it's pricey- but it's a lovely addiction. People LOVE to smoke, the way they LOVE their coffee (I love both). But your advice is good- make coffee at home and quit smoking. Just don't expect people to take it. We want other ways to save money without giving up what we love, just like all selfish lazy humans. Ha ha :)
"smoking and drinking coffee can make you broke"
WHAT ABOUT BOOZE?????????
Leave us smokers alone. We don't cause nearly as many road accidents!
Cigarettes can also kill you.
A dumb article on Yahoo? When does that happen. I quit reading a little after their coffee example was a $4 Dunkin' Donuts drink. If you have a $4 coffee drink your biggest issue will likely be our extra fat ass. As for smoking, everyone knows that that is a huge cost. To date, I suck with money yet I stopped buying my daily $1.80 Starbucks and still went broke. These financial advice articles read like 1950's propoganda. "now look out Jane, that's an extra long and thick cup of hot and black. that'll wreck more than your budget...". DUMB, DUMB, DUMB. Americans are hella spoon-fed!
Im Ms Thess Pagay, single, fr Philippines. I started smoking when i was 13yrs old in my secondary schooling and nw im already 43. Its true even in what country you are,smoking and drinking (of course liquors and wine; coffee its alright) are quite giving up your budget. Beforehand i smoke really a branded and sgnature packs of cigar, so that my frends can call me a trendy and rich smoker though i was jobless, huh, but now I am managing my small bar restaurant in here, i finally cut into a usd0.33 a packx2 a day. It is quite killing but i see to it before i got killed i can save a lot of money Mr Collins..thats our agenda isnt it?
Im Ms Thess Pagay, single, fr Philippines. I started smoking when i was 13yrs old in my secondary schooling and nw im already 43. Its true even in what country you are,smoking and drinking (of course liquors and wine; coffee its alright) are quite giving up your budget. Beforehand i smoke really a branded and sgnature packs of cigar, so that my frends can call me a trendy and rich smoker though i was jobless, huh, but now I am managing my small bar restaurant in here, i finally cut into a usd0.33 a packx2 a day. It is quite killing but i see to it before i got killed i can save a lot of money Mr Collins..thats our agenda isnt it?
I quit smoking from advise received from a friend. I did exactly what he told me. He said to go and purchase a pack of cigarettes every morning and as soon as I take out the first one, smoke it and throw the remainder in the canal nearby where I passed. At no time must I gave the remainder to a friend because I may be inclined to think that I have an alternative.He did not tell me anything else and left the rest to me. Well the good thing came only one week after as I realized that I could kick myself in the butt, not only was I throwing away my very hard earning cash, but to admit that I was a darned jackass.
I'm curious where your source is that "most people" smoke more than a pack a day? Seems highly unlikely.
Giving up coffee for me is not economical since falling asleep at work could cost me my job.
I do brew my own coffee and take it with however and that saves money.
While I do not smoke or encourage others to smoke, I do know a lot of people, especially young people who roll their own.