The Coffee Maker Economic Challenge!!!

The Coffee Maker Economic Challenge!!!

The Coffee Maker Economic Challenge!!!

Coffee is an amazing thing, but it can be tough to determine which coffee maker will best suit your needs and desires… and be the best bang for your buck. You likely don’t want to be stuck with another appliance that sits in your closet for years until the next garage sale. And you want to be saving some money by brewing at home. There are so many options, it can be time consuming to sift through the stats for each type of coffee maker to figure out their costs and benefits. So, this week I’ve done the research for you! I’ve compared the economics of the most popular coffee brewing methods of regular non-espresso coffee. Whether you are looking to invest in a machine for yourself, or it’s a gift for someone else, I will guide you to the best coffee maker.  Next week we’ll continue the coffee speak and see how much you can really save by replacing coffee purchased in a cafe with self-brewed coffee. Later, we will also be looking at money saved by purchasing an espresso machine rather than buying out.

Thanks reading this article and please consider sharing as it helps this small yet flourishing business! You can find more about The Friendly Financial Coach, Toronto’s only non-biased Financial Literacy Coach here.

So on with the challenge! Our three competitors are the French Press, the Coffee Machine and Single-Serving Cup machines (Tassimo, Kuerig, etc.)

The French Press

This classic brewing technique is one of mastery and customization. You’re able to control many aspects of the coffee brew and look damn classy when you do it. However, the French Press also consumes the most amount of time to make a cup of coffee. You need to boil the water, grind the coffee beans and then let it infuse for about five minutes. Although it takes the most effort, many coffee critics claim that this method yields the best tasting coffee.

Coffee beans can be bought for about $10-15 for 500g, equating to about .36-.51 cents per cup of coffee (250ml), which is really cheap. A new french press usually costs about $30-$40 and a grinder costs about the same. When you include these into the price of a cup we have the following;

best coffee French Press financial literacy budget Friendly Financial Coach Bank Account Help Toronto Retirement education

 

The Coffee Machine!

Be prepared to pay whatever you’re willing to for a coffee machine. Amazon has coffee machines listed from $20 to the multiple thousands. Thankfully, with a little research you can get a decent machine for about $45 that makes a solid cup of coffee and has an automatic timer. Coffee machines are super convenient as you can probably get away with one minute of work to make a cup. Plus, you can also make multiple cups just as quickly and easily.

Ground coffee costs about the same as coffee beans ($10-15 for 500g, as above). Factoring in the price of coffee filters, the cost is just a little more than the French press. However, these are really cheap and only cost about .03 cents a cup, so the price per cup is about .39-.54 cents. Also, since ground coffee is pre-made for coffee makers, you skip the costs associated with grinding your coffee!

When you include the $45 machine into the equation, you have the following;

Coffee Machine best coffee French Press financial literacy budget Friendly Financial Coach Bank Account Help Toronto Retirement education

Single-Serve Coffee Machine

Single serve cups have EXPLODED in popularity recently. The biggest brands are Tassimo and Keurig, but other brands like Nestle are trying to enter into the market. This is the quickest and simplest way to make coffee, just pour in some water, put in a coffee pod and you’re good to go. Another cool feature about these machines is that you can make other drinks like cappuccinos or lattes by buying the associated coffee pods.

However, these machines limit the size of coffee cup and can be very bad for the environment. Entry level machines are a little more expensive than standard coffee machines, starting at about $60.The single serve pods themselves also range in price, but on average cost between $0.83 and $1.33 a cup. When you include an entry level machine into the equation you have the following;

Pods Coffee Machine best coffee French Press financial literacy budget Friendly Financial Coach Bank Account Help Toronto Retirement education

So What’s the Best Coffee Brewing Method?

A reasonably priced coffee machine is the cheapest way to brew coffee, saving about .32 cents per cup or about $118 when compared to coffee pods (after making 365 cups.) Below, we can see the cost savings between a coffee machine and single-serve machines by amount of coffee made.

Pods Coffee Machine best coffee French Press financial literacy budget Friendly Financial Coach Bank Account Help Toronto Retirement education

However…A This is a Big However!

Economics includes wayyy more than just the financial costs and this is exactly what you find when you’re choosing the best coffee brewing method for yourself or as a gift. Each brewing method offers other intangible benefits that offer extra value, the biggest being; convenience, coffee quality and choice of different beverages. For example, you may value the extra convenience of a Tassimo coffee machine or the coffee quality from a french press over the extra costs associated. Still, the financial costs associated allow you to compare all the decision making variables. What the decision really boils down to is “what do you value most.”

Thanks

That’s all for today and thank your for dropping by my site. If you have any questions, you can contact me directly at info@ffcoach.ca or at 647-289-0012. Also, don’t forget to sign up to our awesome Newsletter below!

 

Leave a Reply

Your email address will not be published. Required fields are marked *