A Post from YokeConn, stop wasting money on coffee
Hey guys, here is a post I did on our linkedin group YokeConn, it started out with a conversation with a client and just how much money he is waiting buying coffee. I wanted to share this post because I wanted to highlight how we can easily waste money, and show how we can invest that money.
Link to original post on linkedin: https://www.linkedin.com/feed/update/urn:li:activity:6822278238014992384
Well, I wanted to touch on another conversation I just had yesterday with a client, and this will involve you for certain. Not to go into too much info, we were having a conversation about a new start up business my client is working on, and we got to talking about the cost of this start up. Somehow, and I cannot even recall how we got on the subject of coffee, turns out my client is as much a coffee freak as I am, but completely opposite in what we spend. Turns out they buy a large coffee, 3 times a day from a major coffee store, and buys a bag of their roasted beans every week. Okay I know what you're thinking right now, because I was thinking the same thing. How much coffee are you drinking and how can one body consume so much coffee? Well I did ask, so he drinks the 3 cups a day while working, then in the mornings he makes coffee for his wife and himself when they get up, as much of us do. So I said hold on a minute, you are buying 3 cups a day and 1 bag of roasted beans a week, lets do the math on this (WHY?) I will get to that in a minute. So lets say each cup is $5 (and I'm being conservative) do the math with me here: 3 cups a day (oh and this includes weekends too) so 3 cups at $5 x 3 =$15 a day x 30 days = $450 a month just for brewed coffee, did you get that $450 a month, we're not done yet, lets add on the 1 pound bag of coffee (by the way he wasn't sure if it was 1 pound or less) so they are $17 a bag plus tax (not bad I guess), so 1 bag a week at $17 x 52 = $884.00 (WOW) now I look at it yearly (WOW) So lets do the math coffee monthly $450 x 12 months = $5,400 (WTF) now add on the bags of beans $884 yearly total tally $6,284 So lets just think for a minute he's spending $6,284 a year just on coffee, not to mention if they eat out for dinner, and other expenses. So, I just had to stop him, you know how much I can make cash flowing stock options just using that money (Hint a lot), just think about that for a moment, Second, I roast my own coffee beans and between my wife and I we drink 3 large cups a day, so I did the math with him, and you do it with me too. (and by the way, it 's soo much fun roasting you own beans and what you learn along the way). So we use 1 pound of green coffee beans for every 7 days (Exactly) drinking 3 large cups a day, I pay any where from $5 to $7.50 for a 1 pound bag of green beans. (and let me tell you once you know how to roast to get the best flavors, you will never drink those major chains coffees again). So lets do the math, lets average out 1 pound of green beans $6.00 x 52 weeks = $312 So whos better off: His annual coffee costs: $6,284 My Annual Coffee costs: $312 All just by roasting my own beans. I can do a post of where and how to purchase green beans, roasting equipment and how to start out, let me know. #coffee #business #entrepreneur #startup #coffeeroasting #investment #coffeelover #entrepreneurship