Lending Club Blog

Is it time to quit drinking coffee?

Designer coffee is expensive. All of us know it, but oh my, it’s so delicious. I’m not a huge coffee drinker, but I don’t have a problem shelling out quattro dolari every once in a while to get a white chocolate mocha with hazelnut. However, some people drink it much too regularly; for example, my friend from Seattle has 2-3 cups of (expensive) coffee a day. Why would people spend this much every day for a drink?

The price for a cup of coffee wasn’t always $4 — it used to be much closer to $1. But the boutique coffee places don’t just sell coffee, though — many of them sell an experience. Most coffee shops don’t have happy workers, comfortable chairs, hip music, and Internet access — Starbucks and other establishments have brought these amenities to the masses and made drinking coffee a lifestyle. By making coffee so fun and so cool, they created an addiction. This addiction isn’t just to caffeine; it’s to the coffee experience.

Unfortunately, the price of this addiction can be very high. A $4 cup of coffee is $120 over the course of a month, and almost $1,500 over the course of a year. That’s more than the price of an iPhone and service! Small, individual costs can quickly add up to become very expensive.

At Lending club, we aren’t recommending that you get rid of your coffee enjoyment altogether. Just take it in moderation. Cut down from 7 days a week to 2 days a week, and the yearly cost will be reduced from $1,500 to $416. Much more reasonable. Take some time and look at the small expenses you have — is there a way for you to reduce and replace them? You might find that, like cutting back on caffeine, not only is the result better on your wallet, but also better on your health.

Wednesday, September 12th, 2007 at 10:41 am

Comments (2)

  1. I will start making coffee at home and then carry satchets to
    office!!! Hope this turns out to be cheaper???
    http://mokshjuneja.blogspot.com/dontfollow

    September 12th, 2007 at 11:39 am

  2. Another reason I’m glad I don’t drink coffee.

    September 12th, 2007 at 10:30 pm

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

What is Lending Club?

More than one million Americans have achieved their financial… Read More »
February 16, 2016

Get ready for tax season! Lending Club Now Offering TurboTax Integration for Form 1099s

Read More »
February 12, 2016

Lending Club Success: Surpassing $16 Billion in Loans

Founded in 2007, Lending Club’s… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

Critical Small Business Financing Issues

A recent Harris Poll survey conducted on behalf of… Read More »
December 17, 2015

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w