Are you a coffee or a soft drink addict? Both these drinks can be very addictive, in fact, according to australianbeverages.org, a 2013 Galaxy poll reported that people aged 15-49 get 50% of their total caffeine take from coffee alone. That’s a lot of coffee and a lot of caffeine!
To make matters even more concerning, people tend to add sugar and dairy products to their coffee and soft drinks come packed with a sweetness that makes it hard to put the beverage down.
The health effects of eating and drinking too much sugar is pretty well known, but what’s not as well-known is how much money people spend on these beverages every year - money they could be putting in their pocket, or in a savings account instead!
The amount is truly staggering - in 2012 ASIC estimated that Australians spent over a $1 billion dollars on coffee and tea products. Think about your daily habits for a quick moment. Do you stop and get a coffee on the way to work in the morning? Do you drink another in the afternoon to help keep your energy levels up? Even if you make a coffee at home (which is cheaper than buying it from a restaurant or coffee shop), it’s still money being spent every week.
Soft drinks aren’t any cheaper, and can actually be a more expensive habit than coffee! A 2 litre bottle easily costs over $3 to $4 depending on the brand. If you drink a few bottles a week, think of how that could easily start a savings account!
By cutting out coffee and soft drinks, you’ll not only reduce your sugar intake, but you’ll also have more income to save or pay down your debt with.
It’s amazing how one or two little habit changes could easily improve your savings!