College Jolt

From surviving on peanut butter and ramen to gluing shoes back together, Emily knows what it’s like to survive on a strict budget. What she lacks in funds she makes up for in savings savvy, or at least, that’s what she tells herself when she’s not paying bills a month late. Learn from her wisdom, and perhaps you too can know the glories of residing just above the poverty line.

In my case, it’s not a Starbucks but a Caribou Coffee that has presented a tremendous threat to my finances. The second largest U.S. coffee company’s expansive empire includes a space next to my job, and although there are two independently owned coffeeshops in the neighborhood, a door from my workplace connects to the Caribou Coffee. To get a cup of coffee, or an iced tea, or triple “shot in the dark” with cream, all I have to do is open a door, take the one second walk to the counter, get my beverage, and take the one second walk back to work. I don’t have to go outside into the wintry mess. I barely have to think about it.

That’s the problem. Convenience is the enemy of a strict budget. If you are surrounded by easy temptations, you are more likely to exceed your budget limitations. And for a person like myself, whose primary 8 am concern is getting caffeinated as quickly as possible, working in an area with three coffee shops, one of which I can access without having to leave my building, is putting a severe dent into my usable funds.

The other problem with spending money at places like Caribou or Starbucks or even the local independent bakery serving that great Chicago brand that you can’t find anywhere else (Intelligentsia, if anyone is curious), is that it constitutes as a “little loss,” or an amount of money that isn’t that troubling when taken on its own. If I were to say, “I spent $3.50 at Caribou Coffee this morning,” it wouldn’t sound like I had spent that much money. But if I say, “I spend $25.00 at Caribou Coffee every week,” that carries a much greater impact. And if I say, “I spend $100.00 at Caribou Coffee every month,” well, now I know why I can’t pay my heating bill on time.

The average consumer has to remember that the language we use to describe our spending will either stop bad habits or reinforce them. If I break all my spending down into their individual parts, I don’t have to deal with the long-term effect of that spending. A few dollars here and there don’t feel like a lot, but if I had saved that money, I wouldn’t be struggling to make ends meet at the end of each month.

But what if you’re like me, and you rely on caffeine for early mornings, long days, and the ups and downs of a day at school or work? Well, we could kick the habit. Drinking massive amounts of coffee isn’t good for us, and at least in my personal experience, it’s not very effective after a while, which means spending another three bucks at the coffee place next door. Soon, we’ll be broke, panhandling to get just enough to stay awake for more panhandling. Downward spirals happen very quickly. Before you know it, your $3.50 a day has put you on the street. Okay, it’s not that dire. And I’m not saying we shouldn’t drink coffee. After all, it is the beverage of the brilliant, of artists and writers and philosophers, as well as overworked college students. In times like these, however, we need to save as much as we can, and that means staying within our budgets.

First of all, if you don’t have a travel mug, absolutely invest in one. You can get them for cheap (they’re even given away as promotional items), and they will allow you to forgo buying the morning cup by bringing the good stuff from home. Don’t let cheapness override good judgment, however. Make sure the lid fits tightly and the bottom is insulated and secure. If you’re willing to take it a step farther, forget the travel mug and get a thermos. The money-saving benefits of a thermos are immense, and if you get an old-fashioned large metal thermos, you could provide yourself with a day’s worth of coffee, and keep it warm too.

Also, for home brewing devotees looking to save a bit of money, brew only quantities that you require. If you’re intending to fill up the travel mug, then put a travel mug’s worth of water and grounds in the coffee maker. With the actual coffee, grounds or whole beans, find the best quality for the best price. When it comes to coffee, quality is truly subjective. Some people are perfectly happy with Folgers, and other people can’t drink it unless it’s from Guatemala and they purchased it from a Whole Foods. Figure out what your taste level is, and buy accordingly. For the record, Café Bustelo is my favorite bargain brand of coffee. I’ve found for it as low as $2.50 a can.

If you’re a student with a meal plan, get as much coffee consumption as possible from that plan. More than likely, your cafeteria offers coffee, so plan ahead and bring your travel mug or thermos. Eat breakfast, fill your travel mug, and you’ll be set for your fix and then some. If you can use your meal plan at campus and neighborhood establishments, limit yourself to coffee from places that accept meal plans.

Consider alternate coffee sources. Though it’s infamously terrible, sample the coffee at local gas stations. In the morning, at the very least, the coffee is as fresh as the stuff they serve at the corporate coffee shops, and can be as good. Also, because coffee-selling isn’t a top level concern at a gas station, they are far more lenient. Fill up your travel mug, and you’re still likely to pay the basic price. With a bit of experimentation, you’re likely to save more than half on your convenience cup of coffee. Just because a place isn’t known for their coffee, doesn’t mean you won’t find a good cup and a good bargain. Many major fast food chains are upgrading the type of coffee they use, making it possible to get a decent caffeine fix at McDonalds or Wendy’s.

FInally, investigate your local independents. While places like Starbucks, Caribou, Seattle’s Best, etc, are reliable in the taste and general quality, local independent coffee shops usually offer coffee of equal or greater value, and usually for cheaper. Besides, if you’re going to spend your money, putting it into independent shops that need the support makes the cost a little nobler. Many independent shops put money back into the community, so find out where your money is going. Informed spending breeds responsible spending.