Coffee seems to be an irresistible part of most people’s day. So pairing your breakfast with a hot cup of coffee seems the perfect way to start your day.
Drinking the beverage in the office is a great way to feel warm and energized as you beat deadlines at work.
Sometimes, people use coffee to keep them less sleepy on all-nighters. But on the other hand, spending time with friends in cafes is a go-to leisure activity many enjoy.
Whatever your purpose is, coffee is a classic beverage people love. But how much do Americans spend on Starbucks?
On average, Americans spend $1,100 per year on Starbucks coffee alone.
However, it may take them $6-11 per visit if you include some snacks in a purchase. Thus, Americans spend $3,000 yearly on Starbucks.
In this article, we tackle how much coffee Americans consume and how much they spend on coffee and Starbucks.
Moreover, we challenge the thought of how much you can save if you try to invest the money you spend on coffee instead. Read on!
Coffee Consumption of Americans
According to a National Coffee Association USA survey posted on September 29, 2022, 66% of Americans 19 years old and above have consumed coffee the previous day. The beverage is consumed more than tap water and is the most consumed in Northeast USA.
Coffee Spending of Americans
According to a post by Perfect Brew, women spend more on coffee than men. On average, women spend $2,327 on coffee yearly, while men spend $1,934 yearly.
The Food and Drug Administration allows the consumption of 400 mg or approximately 4-5 cups of coffee. Such an amount is considered safe.
However, some Americans do exceed this amount. For example, men consume coffee over 400 mg per day more than women. Thirty-eight percent of men and 32 percent of women exceed the considered amount.
Undeniably, the consumption of coffee is deeply ingrained in most Americans’ lifestyles.
The updated statistics by the National Coffee Association posted in September 2022 state that 28% of Americans consumed coffee away from home, with 33% of past-week drinkers buying coffee at least four times per week.
American Spending for Starbucks
TheCommonsCafe indicates that around $1,100 is spent yearly by the average American for Starbucks coffee, including coffee bought at a grocery store, in one of their cafes, and through online platforms.
An average Starbucks cup costs $2.75. On average, Americans spend $3.50 daily on Starbucks coffee. However, Americans spend $6-11 on a visit, which may include coffee and a complimentary snack.
Yearly, the average spending of Americans on Starbucks reaches $3,000.
Saving Versus Spending
Without a doubt, buying coffee is a habit most Americans have. But what if you can challenge this thought: what if I invested the money I spent on Starbucks?
Say you saved $3,000 in a bank with a 0.50% interest. In ten years, you can have $30,150 saved.
If you invested even half of that in the 401(k) with a 15.1% yield, you would reach $35,000 in ten years.
However, cutting out Starbucks completely is not realistic. Trying to change your perspective may help you with your financial goals.
Being aware of how much you can save from the money you invested shifts your perspective, encouraging you to make better decisions regarding your expenses.
Takeaway
Americans spend $1,100 to $3,000 per year on Starbucks. While coffee is a go-to beverage for most Americans, becoming more self-aware of how much you can save can help you reach your financial goals, helping you develop self-control and discipline when it comes to your expenses.
Frequently Asked Questions
How Much Does an Average American Spend on Coffee Weekly?
An average American spends approximately $14.4 on coffee weekly.
Which Starbucks Branches Are the Busiest?
Starbucks New York Time Square and 1912 Pike Place are the busiest.
