If I have learned anything over the past few years clipping coupons it is that small changes, when repeated over time, will add up to big savings. This is especially true of my (and my wife’s) recent decision to ditch our Dunkin Donuts coffee habit and in the process save our family over $1,000 per year. Here’s our story.
My morning routine included dropping my son off at school, heading to the local Dunkin Donuts and then to work. No big deal, right? Well, one month I was looking at my bank statement from my handy dandy debit card and noticed that there were way too many deductions from Dunkin Donuts. I took out my calculator and added up nearly $150 in purchases made by my wife and I. Wow, that was an eye opener. I don’t know why I was so surprised when I took into account that my minimum purchase at Dunkins was $2.56 (medium iced coffee) not to mention the cost when I indulged in a breakfast sandwich which raised this figure to nearly $6.00. Take into account that my wife was also doing this and it is not hard to figure out how we topped $150 in a single month.
We both agreed that there was certainly a better, more productive, way to spend our money. It was sad to realize that my medium iced coffee cost nearly as much ($2.56) as a gallon of milk at the local convenience store ($2.99). Going to Dunkins Donuts had become a habit, albeit an expensive one, and we all know that habits are hard to break but we were going to try.
We started out by changing our morning routines. No more trips to Dunkins – none. We purchased a Keurig coffee maker for less than $100 (thanks to Kohl’s for the sale and coupon combo) and started making coffee at home. It took some time but the craving to hit Dunkins every morning slowly went away and now I enjoy a peaceful cup of coffee (no line, no waiting) while checking my email and updating my coupon website. Not only did this save me money (I estimate saving over $1,000 yearly) but it is also much healthier as I am not buying donuts or breakfast sandwiches on a regular basis.
Give it some thought – do you have bad habits that are costing you thousands each year? Stop the financial bleeding by developing better and more fiscally responsible habits and use the savings to save for a family vacation – Disney World perhaps?
Just imagine the money I would have saved if I was going to Starbucks everyday……
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