It’s easy to forget about the $1,500 you might have saved by taking a trip to a cafe to watch the big game.
But if you’re like me, you’ll have to take a break from the hustle and bustle of life to spend the night.
That’s because, according to a new study by the Consumer Federation of America, cafes are one of the most cost-effective ways to spend money at home.
The study, published on Wednesday in the American Economic Journal: Applied Economics, found that a coffee house provides a cost-saving opportunity, as much as $300 in the long run.
For those who have a small family, this may be a cost you don’t have to consider.
But for those who want to save a few bucks and live with a few close friends, there’s nothing better than a couch or a few chairs to take home.
“You’re saving more than if you had just bought a new couch,” says Lisa M. Lachman, the CEO of the CFA.
“A lot of people, they’re just going to spend it.
But there’s a lot of benefits to the amount of money you save, including a sense of accomplishment.”
Lachmans co-authored the report with fellow CFA president and co-author Adam Levinson.
“The cost of living has gone up dramatically, but in some cases it’s been so much more than that that it’s really become a burden,” says Lachmann.
“We think it’s time for people to consider the cost of having a couch and how much that cost is for them.”
In fact, the cost per day of living in a house with a sofa has more than doubled since the late 1990s.
In the first three years of the study, the average American family spent $6,000 a year on rent, food, and utilities, compared to $1.8 million in 2014.
And as a result, the study finds, the amount you save by using an affordable couch can add up to a total of about $200 in a decade.
“That’s one of our key findings,” says M.L. Lattman, CEO of CFA, in a statement.
“Our findings suggest that a good living room table is a good investment, but there are many other ways you can save money in the meantime.”
How much money does a couch really save?
The study finds that, in addition to the cost savings, there are other benefits to having a sofa.
The CFA found that when used as a couch, a couch can also save you money on energy, water usage, noise, and other energy costs.
“This study is a very important first step to understanding the cost-savings of living rooms,” says Levinson, in the statement.
Levinson is also an adjunct professor of economics at the University of Illinois at Urbana-Champaign.
He says the CFPA’s report was an important first milestone in an ongoing effort to help consumers better understand the cost benefits of living with their family in their own home.
The report also found that, compared with renting a studio, couch sharing allows people to have more control over how they spend their time and money.
L.L., a 36-year-old housewife, says she’s been living with her husband and two sons in her parents’ home since they moved in in the summer of 2018.
The couple bought a two-bedroom apartment in nearby Wicker Park, Ill., and, like most Americans, L. L says she found the space on a low rent to be ideal for the family.
“There were no roommates, no pets,” she says.
“I’m very happy with my family.”
But it wasn’t until L.K. bought a four-bedroom condo in the same area that she began to think about her options.
“It was hard for me to feel like I had a place to call my own,” she recalls.
“So I started looking for an affordable house.
I was really excited about the prospect of being able to have a place I could call my home.”
L.S. purchased her first apartment with the help of the American Homeowners Association (AHA), a nonprofit that helps homeowners with mortgages and other home-related issues.
L says that, as the year progressed, the apartment changed dramatically.
She bought a second condo and then, on July 11, 2018, moved into a three-bedroom house in her hometown of Atlanta, Ga.
The AHA says it’s the largest home-sharing program in the U.S., with more than 11,000 homeowners participating in its program, including 6,700 in the last year.
The program is one of many that offer homeowners a choice between apartments that fit their needs or homes that suit their lifestyle.
“For many homeowners, it’s a matter of finding the best place for