Cut back on coffee takeaways this year to save

With inflation and rising costs in the UK, how much could your regular coffee be setting you back?

In the UK more than 80% of people visit a coffee shop at least once a week with 16% visiting daily. There are over 8,000 coffee shop chains and Costa is the most popular. The favourite coffee drinks are latte, cappuccino, and flat white.

Increasing costs of a coffee takeaway

In 2023 the average cost of a cup of coffee was £2.56 but today it has risen to £2.86 a rise of 11.7%. Meanwhile the UKs most popular coffee variant (latte) is now costing £3.25 for a medium size drink and £3.03 for a small.

How much could you save?

If you are buying coffee 3 x per week from Costa, you will be spending £9.42 a week and £37.68 a month. However, if you stopped buying coffee today then by the end of the year you could have saved £414.48.

Kinder to the environment too!

Do your bit for our environment and get into the habit of "reusing" cups/bottles, reducing plastic and waste.  By reducing the number of coffee takeaways you purchase, you're also helping to save the environment.  Fill up your own reusable coffee mug daily instead!

What could you do with this money?

Now that you have stopped buying coffee takeaways or cut back on the number of times you get a coffee takeaway you can put your money into something more! For example, your savings could go towards paying for your holidays or an emergency fund for car repairs etc.

How much could you potentially borrow?

After saving your money by the end of the year you could borrow up to 5 x your savings. This would mean you could potentially borrow £2,072.40.

Questions?  Get in touch!

Email creditunion@harpandcrown.co.uk or phone 028 9068 5198.

“Save regularly and borrow only what you need.”

The Harp and Crown Credit Union provides safe, secure, flexible finances for the wider police family in Northern Ireland.