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Have your flat white and save too

Paul Chapman

It is widely reported that savvy investors should cut out the daily cup of coffee as those small, incremental savings can add up in the long term.

If Australians buy a cup of coffee before work every weekday at $4 a cup, they will spend $1,040 a year on coffee alone.

However, the chief executive and founder of financial technology app Moneytree, Paul Chapman, believes Australians can keep the cup of coffee and still save.

It’s an old trope that if you stop spending so much on a flat white, you’ll save so much money… I think it’s a little disingenuous that personal finance experts say spend less on coffee,” he said.


Speaking to Nest Egg, Mr Chapman discussed how young investors should buy their cups of coffee and set themselves up for the future through engagement and focusing on income.

“Ultimately, engagement is king. You need to get people interested, hold their attention and make them see it’s worth their while,” Mr Chapman said.

“If you want to look after your finance longer term, you are going to have to learn a bit more, read a bit more so that engagement is key.”

The chief executive of the money app also believes that while controlling spending is important, other factors play a much larger role in what Australians end up with in retirement.

“What we tend to find once you’ve found an equilibrium in spending, the thing that has the biggest impact on your future stability is your income,” said Mr Chapman.

“Being able to increase your income, saving early and investing early are the three things that have the biggest impact on you long term.”

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Have your flat white and save too
Paul Chapman
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