New research has found Australians who buy takeaway coffee every day could be spending almost $2,000 a year on their daily caffeine fix.
A nationally representative survey of 3,078 Australians found the average cup of coffee now costs $5.42, which means that for someone buying one every day, that adds up to $37.94 a week, $164.40 a month or $1,972.88 a year.
The cost varies across the country, with NSW coffee drinkers paying the most, at an average of $5.74 per cup.
Victorians pay the least at $4.73, followed by Western Australians at $5.20, South Australians at $5.38 and Queenslanders at $5.60.
The research, commissioned by Compare the Market ahead of World Coffee Day on October 1, also found significant differences between age groups.
Australians aged 25 to 34 pay the most, at an average of $6.31 per cup, while those aged over 65 pay $5.44.
Those aged 35 to 44 pay the least, at an average of $5 per cup, followed by 55 to 64-year-olds at $5.10.
Compare the Market’s Sarah Orr said the cost of regular coffee purchases could quickly add up.
“Whether it’s a pre-work flat white, a lunch break latte or an afternoon pick-me-up, coffee has become a daily ritual for many Australians,” Orr said.
“For busy workers, the convenience of grabbing a coffee on the go can be hard to beat, but those purchases can add up surprisingly quickly over time.”
For those looking to cut back, Orr suggested making coffee at home, using loyalty programs and asking cafes about concession discounts for seniors and students.
She also recommended checking whether banks, insurers, energy providers or other organisations offer discounts or rewards to their customers.
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