Here's What Your Daily Dose of Starbucks Is Actually Costing You

Starbucks Cost Cover

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Starbucks Cost Cover
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How Many StarBUCKS Are You Really Spending?

We all know someone who heads to the Starbucks drive-thru as part of their morning routine. Maybe you are that someone. And while a few dollars for a coffee here and there might not feel so bad, it all adds up, and instead of thinking of what you're spending in terms of mere numbers, consider what tangible things you could have or pay for with the same amount of money. We looked at the average price of Starbucks' most popular drink (lattes) and calculated the weekly, monthly, and annual costs to make larger, eye-opening comparisons. Here's the breakdown:

  • $4.75 for a latte
  • $23.75 for a five-day week 
  • $95 a month
  • $1,235 a year 

With those figures in mind, let's look at what you could have instead of a quick caffeine buzz that will wear off before you've reached the afternoon.

Note: Prices are subject to change and may vary by location.

Related: 5 Things You Should Never Order At Starbucks

paying for gas

1. More Than a Quarter-Tank of Gas for the Week

There was a time when just going for a drive for the fun of it was a go-to way to kill time. That time has passed. Now is the time when gas prices are sucking the life out of everyone and we have to be more calculated about how much we're driving and where to fuel up to be as cost-effective as possible. If you are in that boat with us and also stopping at Starbies for a latte every morning, you might want to reevaluate. 

Currently, the national average gas prices are at $3.58 per gallon. If you stop at Starbucks for a latte every weekday, you'll spend around $23.75 a week. That's nearly seven gallons worth of gas. Depending on the size of your tank, that shakes out to around or more than a quarter of a tank.

Related: Starbucks Employees Dish on Why 'Secret Menu' Orders Can Be Frustrating

Home Finance Mortgage and Taxes Deduction

2. The Ability to Shorten the Life of Your Mortgage Each Year

If your monthly mortgage payment is in the same ballpark as what you spend on Starbucks over the course of a year, you might want to kick the habit. Making extra mortgage payments is an incredibly smart way to shorten the life of your mortgage and pay down the principal balance without interest getting in the way. 

Making just one additional mortgage payment each year can shave four to five years off the life of a 30-year mortgage. Do that a couple of times and you'll make a serious impact. 

Related: Home Buying Blunders: 10 Rookie Mistakes To Avoid When Buying a House

Mature Woman Enjoying Cooking at Home

3. Around Two Home-Cooked Meals Each Week

Obviously, if you're making lobster one night and Wagyu steaks the next, axing Starbucks isn't going to cover the cost of you eating a few meals at home. But if you are following a more modest meal plan and spending around $12 per meal, a latte at Starbucks each weekday will cost the same amount of money as two home-cooked meals. 

Related: Cheap and Easy Bulk Meals That Will Last All Week

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Mature Black Woman Making Coffee

6. A Healthier Savings Account

Skipping Starbucks might free you up to put that money you would've spent into your savings account instead. Perhaps you'll invest it and it can go even further. This one goes without saying, but it's hard to argue with. Not spending money is, after all, the easiest way to save up.

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