How Much is that Iced Coffee Costing You?

Tis' the pumpkin spice season and no one has been made more aware of that than your wallet.

According to micro-investing and savings app Acorns, the average American spends $1,097 on coffee annually—and that number is only expected to grow.

We get it. Coffee isn’t just a drink; it’s a ritual, a source of energy, and sometimes, the only thing that gets us through the day. As Yaqub Mohammad, founder of Renolon, puts it:

"The love of coffee transcends all boundaries."

But here’s a thought—what if that $1,097 went toward something bigger than your caffeine fix? Let’s explore a few alternatives that could put your coffee budget to work for you.

Alternatives That Grow Your Money

1. Invest in a High-Yield Savings or Money Market Account

Instead of spending $1,097 on coffee, why not put it into a high-yield savings or money market account and earn interest while keeping it safe?

For example, letting your coffee budget sit in a Security Bank & Trust Co. Savings Account could grow it to $1,100.29 in a year. And with interest rates rising, the longer you let it sit, the more you’ll earn.

2. Invest in a Certificate of Deposit (CD)

Would you believe us if we said saving money could actually make you money?

With a Certificate of Deposit (CD), you can lock in a higher interest rate for a set period—meaning you’ll earn more than a regular savings account.

For instance:

• If you put $1,097 in a CD with a 3.01% APY for 15 months, it would grow to $1,138.43—giving you an extra $41.43 with zero effort.
• The only catch? You’ll need to keep the money in the CD for the full term to avoid early withdrawal penalties.

At Security Bank & Trust Co., we’ve got CD options that fit your financial goals. Check them out today.

3. Invest in a Wealth Management Account

Want to grow your money even more? Investing in the stock market through a managed account could give your coffee budget a serious boost.

With the help of our expert Trust Department team, you can explore investment options tailored to your risk level and long-term goals. While investing always carries some risk, it also offers the potential for much higher returns over time.

Let’s Make Your Money Work for You

Giving up your daily iced coffee might feel like a sacrifice—but redirecting that money into a savings account, CD, or investment portfolio could turn a short-term expense into long-term financial gains.

Not sure where to start? Our experienced bankers are here to help. Contact us today to explore how you can make the most of your hard-earned money!