They said it
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Tim Cook, Apple CEO
You could buy an iPhone X for $ 33 a month […] That’s less than a coffee a day.
Apple CEO Tim Cook in November 2017 on a financial results conference call. He defended the price of the first iPhone approaching US $ 1,000.
The European budget costs every citizen a cup of coffee a day.
The President of the European Commission, Jean-Claude Juncker, in January 2018. A year and a half earlier, Great Britain had held a referendum triggering the withdrawal from the European Union.
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David Heurtel, Minister of the Environment in the Couillard government
For a motorist who has a car that consumes 7 L per 100 km […]we are talking about an increase of roughly $ 28 per year. So here we are talking about less than one coffee per week.
David Heurtel, Minister of the Environment in the Couillard government, in December 2014. He estimated the impact of the entry into force of the carbon market at 2 cents per liter of gasoline.
The luxury items you desire are made more affordable for the price of a coffee a day.
LXR website, a luxury Montreal company vintage who offers to rent certain items
86%
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Sylvain Charlebois, Director of the Laboratory of Analytical Sciences in Agri-Food, Dalhousie University
Proportion of Canadians who have had a coffee at least once in the year, according to the 2019 Canadian Coffee Association study. Some 72% said in this poll that they had drunk one the day before. “This is probably why we use this analogy of a coffee a day so much, people understand the meaning, it is a product that they themselves consume”, explains Sylvain Charlebois, director of the Laboratoire des. Analytical Sciences in Agri-Food from Dalhousie University.
$ 3
Despite its simplicity, the comparison with the price of a coffee per day is very imprecise. For example, you can buy 925 g of Maxwell House coffee in a Metro supermarket for $ 9.99. At two teaspoons or 10g per coffee, a cup of this drink that you brew at home will cost you 11 cents.
Average filter coffee at McDonald’s and Boni-Soir costs $ 2.09 and $ 1.69.
At Starbucks, the average latte is $ 2.95 and some variations can go up to $ 5.95.
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At Starbucks, the average latte is $ 2.95.
One of the rare analyzes on this subject, carried out by the payment firm Square Canada, had established in 2016 the average price of a coffee in Montreal at $ 2.67. According to Statistics Canada inflation data, this average would be around $ 3 in 2021. It is this rounded figure, taxes included, that we have decided to use for convenience.
For a condo
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The average sale price in the third quarter of 2021 of a condo on the island of Montreal was $ 425,000, according to the Professional Association of Real Estate Brokers of Quebec.
The amount of savings a man would reap in his adult life if he replaced his daily coffee with a weekly investment of $ 21: $ 461,802. We assume a return of 5% for 63 years, life expectancy being 80.6 years in Quebec.
For a woman, whose life expectancy is 84 years, the amount would be $ 538,123.
What can we afford today with this nice nest egg? At least one condo on the island of Montreal, whose average selling price in the third quarter of 2021 was $ 425,000, according to the Professional Association of Real Estate Brokers of Quebec. But that wouldn’t be enough for a single-family home, based on the average selling price of $ 699,000. And these prices obviously have nothing to do with what they will be six decades from now.
Subscriptions
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Finding your online music, movie and video game subscriptions costing you dearly? Not as much as your daily coffee, which costs you $ 91.25 per month if you’re average. Here’s what you could subscribe to for that amount (taxes are included).
- Spotify (family subscription): $ 18.38
- Netflix (Premium Ultra HD 4K): $ 21.83
- Disney +: $ 13.79
- ICI Tou.tv Extra: $ 8.04
- Apple One (which includes AppleTV + and Arcade): $ 18.34
- Amazon Prime (annually, which includes Prime Video and Music): $ 7.57
- PS Plus: $ 4.58
1.4 million
Amount of life insurance that a 40-year-old non-smoker from Quebec could receive upon her death for 20-year term insurance with the price of one coffee per day. Source: InfoPrimes.com
One coffee a day in telecoms is …
20 Fibe Pay-Per-View TV (basic plus 20 channels) with 4K terminal rental, from Bell
Unlimited 100 m / s residential internet at Videotron (regular rate)
Unlimited Cellular Plan 40 (40 GB full speed data, unlimited calling) at Telus
Gasoline at 84 cents
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The average price of a liter of gasoline at the pump in Montreal is close to $ 1.57.
In early November, the average price of a liter of gasoline at the pump in Montreal was close to $ 1.57. But the motorist who replaced his daily coffee with gasoline would end up paying only 84 cents. By what miracle? Let’s play with the numbers a bit. In 2020, according to Statistics Canada, each owner of a car registered in Quebec consumed an average of 29 L of gasoline per week, or $ 45.53. If we deduct the $ 21 saved in coffee, we would only pay $ 24.53 for those 29 L, or 84 cents. A good point, isn’t it?
$ 831 per month
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Investing in your RRSP on a daily basis instead of drinking coffee could earn you a nice pension once you retire.
This is the amount of the annuity you could receive from age 71 if you buy RRSPs instead of an everyday coffee. Imagine a worker who invests in his RRSPs aged 25 to 71, the maximum age at which he must convert them into a RRIF.
- $ 188,600: accumulated RRSP amount, between 25 and 71 years old, for $ 3 invested per day with a return of 5%
- $ 9,971: mandatory annual minimum withdrawal at age 71, when converting to a RRIF
- $ 831: additional monthly income
Source: FRQ Solidarity Fund
Become a millionaire?
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Even if you devote your entire coffee budget to buying 6/49 tickets, your chances of hitting the jackpot are slim.
By a nice coincidence, which bodes well for this specific subject, the price of the coffee we have chosen is exactly the same as that of a 6/49 note. What would happen if we replaced coffee by buying a ticket every day?
A Quebecer who started playing at 18 and died at 80.6 would have bought exactly 22,849 tickets, an expense of $ 68,547. In theory, according to Loto-Québec, he would have won $ 32,217, with the return rate of the 6/49 being established at 47%.
His chances of hitting the jackpot and becoming a millionaire? Very weak. Over a lifetime, they are very precisely 1 in 625.
Place all the students in your daughter’s high school on a soccer field, blindfold, and choose a youngster at random: 1 in 625, that’s about the chance of hitting your child.