ALL THAT JAZZ: How much are you really spending on coffee?
Coffee is the most popular beverage in the world.
For many, kick-starting their day with a cup of joe is non-negotiable.
I could understand why. The rich aroma has a stimulating effect: even if you’re not a coffee lover, it perks up your mood (this has been scientifically proven too).
But besides it being a comforting routine and a morning booster, coffee drinkers also drink coffee to unwind.
This is where it becomes a popular social drink. It plays a huge part in our social life. Whether you’re catching up with old friends, going for a business meeting, or just looking to spend some alone time, coffee shops are where to be. In Malaysia, coffee has been ingrained in our culture.
An article by Business Today last September suggested that one of the factors that contribute to a surge in coffee consumption among Malaysians is due to urbanisation and hectic lifestyles.
Clearly, coffee is a huge part of society. But are these small purchases harming your long-term financial security? Whether it’s an Americano or a fancy latte, how much do these add up to your monthly expenses?
Last November, a coffee lover, and Twitter user went viral after he posted about his coffee expenditure on social media.
After tracking his coffee spending, his whopping total came to RM706 - this was how much he spent for coffee across the span of one month. Fellow coffee lovers shared their relatable coffee habits and encouraged others to track their spending.
Previously, Economy Minister Rafizi Ramli said consumer spending habits are the primary driver of inflation. He said the fact that consumers still continue their spending habits indicates that prices are still affordable. He also added that the demand for non-alcoholic beverages and food has not gone down despite rising prices.
Perhaps this is evident as we see how coffee shops still thrive despite the ever-increasing costs of living.
Specialty coffee shops, popular coffee chains, ‘kopitiam’, can be seen on almost every corner. Malaysians are still willing to pay premium prices for coffee.
So, really, how much is one willing to fork out for a cuppa? The second episode of Sinar Daily’s “Living Beyond Your Means” series focuses on coffee habits among Malaysians and how much they are willing to spend on their favourite beverage. Watch the full episode here!