Coffee anyone?

Australia loves coffee, no doubt about it.  Not for us drip filtered or instant coffee, we are in love with strong European espresso style coffee and it's milky cousins.

GuitarMan and I both love coffee and so we took the step a couple of years ago of purchasing a high end DeLonghi coffee machine.  The DeLonghi coffee machine grinds the beans, makes all varieties of coffee at the touch of a button and all requiring absolutely no skill on our part.  GuitarMan bought the DeLonghi (on special of course) for $1600.  I can almost hear you cry "What $1600 for a coffee machine!"

Here's why the decision to buy a coffee machine was a frugal one for us. 

GuitarMan and I both love our coffee.  I drink one a day as I generally prefer tea.  GuitarMan however is a fan of espresso so strong it pulls your cheeks in when you drink it.  GuitarMan averages four cups a day. At $3 each our average coffee cost during a working week was $75.  We'd usually have another couple each while out on weekends so lets say $90 each and every week just for coffee.  That's a whopping $4680 each year or $9360 in two years.

The DeLonghi coffee machine cost us $1600.  We spend around $25 each month on coffee beans and say another $20 for power, water, milk etc.  Over a two year period, making espresso and cappuccino at home has cost us $1080 and even when we add in the $1600 purchase price of the coffee machine we have saved a whopping $6,680.

I have been reading about The Latte Factor on David Bach's website and how by recognising your Latte Factor, you can change your spending habits and turn your finances around.  Interesting reading and certainly something I hope will help stop those $2 coins disappearing from my wallet.

I wonder what David has to say about buying books and musical instruments?