We’re always looking for new ways to save a buck or two (or more). But give up or cut back on our coffee and lunch out habit? I came across a startling stat: We spend nearly as much money every year on coffee as we do on gasoline, and quite a bit more on lunch than fuel.
Consumerist.com reports that the Accounting Principals’ latest Workonomix survey claims the average American worker is spending more than $20 a week on coffee. That adds up to $1,092 year! In comparison, commuting costs for the average worker come out to around $1,476 a year. Consumerist puts it this way: “when you consider the volume of your typical coffee drink versus a gallon of gasoline, it looks like we place a higher value on our java jolt than we do on the 87 octane in our gas tanks.”
Consumerist pointed out another huge expense we typically choose to ignore. It says 66 percent of the American workforce buys their lunch rather than pack one. At an average cost of around $37 a week, the daily mid-day meal is quite a bit more expensive than commuting or coffee.
The younger workers usually spend more money on coffee and lunch than their older counterparts.
- Coffee: Younger workers (ages 18-34) spend $24.74 a week, while older workers (45 and older) spend $14.15/week.
- Lunch: Younger workers spend $44.78/week on lunch, compared to $31.80 for older workers.
With gas prices so high, it’s a little surprising that American workers typically spend more on lunch than filling up their vehicle. In fact, Consumerist added: “Worth mentioning here is that, when asked what they thought their biggest work week expense was in the last year, 42% of respondents thought it would be commuting costs, and only 11% chose lunch expenses.”
How much do you spend on coffee? How about lunch?