Transcript: my-financial-minute-latte-mp4

How much money does the average American spend on coffee each year?

A. $486  B. $1,092  C. $232  D. $2,245

Stick around for a minute and we'll get you the answer.

Ah, coffee. We love it! We drink it every day, and we have no idea how much we spend on it. After all, it's just a few bucks, right? If you’re like me, then cutting coffee out of the daily routine just isn’t going to happen. So, what’s a coffee lover do? It’s obvious – and simple: brew coffee at home. The cost of a really good coffee maker is much less over time than the cost of a daily latte. In fact, we could easily save $2 to $5 per day.

So, how much money does the average American spend on coffee each year? The answer is B: $1,092. Imagine if you put that into a savings account. That's $21 per week. How great would it be to have over $1,000 in savings at the end of the year?

I'm Sophie Nolan for My Financial Minute, check back often to continue the conversation.

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