On this episode of Cash and Coffee, hosts Emily Zimmerman and Quinn Stahr explore practical ways to save money, build an emergency fund, and make smarter everyday spending decisions as they discuss World Savings Day, observed on the last day of October.
Start Saving Early
As a first-semester college student, Quinn has already established a savings routine by splitting each paycheck between checking and savings. Currently, 75% goes into checking and 25% goes into savings, although Quinn is considering increasing the amount directed toward savings.
Having too much money sitting in a checking account has prompted Quinn to think about whether some of those funds would be better placed in a savings account where they could potentially earn interest.
Quinn also recently gained access to a separate savings account that had been building up money before college. Even though relatively small amounts were deposited into that account each month or every other month, the balance grew over time.
The experience highlights an important lesson for young adults: starting early and contributing consistently can make saving money feel more manageable. Establishing the habit while still in college can also help build a strong financial foundation for the future.
Build an Emergency Fund One Step at a Time
For working adults, having savings available for unexpected expenses can provide an important financial safety net. Emily emphasizes the value of building an emergency fund and working toward a reserve that can cover several months of living expenses.
A common financial guideline is to aim for three to six months of essential expenses, although the right amount depends on individual circumstances, income stability, and financial responsibilities.
Reaching that goal does not have to happen overnight. Setting aside $20 a week, $20 a month, or whatever amount fits a person’s budget can help establish a consistent routine. The key is to start somewhere, continue contributing when possible, and make saving part of the overall financial plan.
Even small deposits can accumulate over time, particularly when money remains in an interest-bearing savings account.
The Cost of Convenience: Coffee Shop Spending
One of the biggest challenges to saving money can be balancing everyday conveniences with long-term financial goals. For Emily, that sometimes means choosing between purchasing coffee at a shop and making it at home.
During a recent morning before a CEO program mentor event, Emily stopped at Airplay for a latte. While buying coffee can be an enjoyable treat, that purchase also offered a practical example of how small expenses can affect a budget.
A $7 coffee may not seem like much on its own. However, purchasing one every day could add up to approximately $210 over a 30-day month, or more than $2,500 over a year if the spending remained consistent.
Making coffee at home can help reduce those costs, but Emily points out that an occasional coffee shop visit does not have to be something to feel guilty about. The important distinction is whether the purchase is an occasional treat or a daily habit that takes money away from other priorities.
Quinn shares a similar philosophy about spending. After working and building savings, making an occasional purchase feels reasonable, especially when it is not happening every week. Being intentional about spending allows room for enjoyment without losing sight of financial goals.
College Students Can Save on Food, Too
Food is another area where small decisions can make a difference. As a college student, Quinn has been bringing simple lunches from home, such as sandwiches and chips, rather than regularly purchasing meals from the college cafeteria.
Although campus food can be convenient, meals that cost $10 to $15 can quickly become a significant expense when purchased frequently.
Preparing lunch at home offers an opportunity to control costs while still having something to eat throughout the school day. Buying ingredients in advance and planning meals around a budget can help students stretch their money further.
That does not mean students need to avoid eating on campus or enjoying meals with friends. Instead, finding a balance between convenience and affordability can help keep spending under control.
The same approach applies to people who work full-time, commute, or have busy family schedules. A little planning can reduce the temptation to spend more on food simply because it is the easiest option available.
Small Changes, Lasting Results
Throughout the conversation, Emily and Quinn highlight several practical ways people can work toward their savings goals:
- Automate savings: Direct a portion of each paycheck into a savings account before spending the rest.
- Start with what you can afford: Even small, regular contributions can help build a savings habit.
- Create an emergency fund: Work toward saving enough to cover several months of essential expenses.
- Make everyday purchases intentional: Consider whether buying coffee, lunch, or other conveniences is worth the added cost.
- Look for secondhand options: Thrift stores and Facebook Marketplace can offer ways to save on purchases.
- Leave room for treats: Occasional purchases can fit into a healthy budget when planned for in advance.
As discussed in previous episodes of Cash and Coffee, saving money is not necessarily about giving up everything enjoyable. It is about understanding priorities, recognizing spending patterns, and making decisions that support both current needs and future goals.
For Quinn, the savings already accumulated through small, consistent choices demonstrate how those habits can pay off over time. For Emily, the occasional coffee shop visit serves as a reminder that financial awareness is just as important as financial discipline.
Celebrate World Savings Day by Starting Small
World Savings Day provides an opportunity to review financial habits and consider what changes could make saving easier. Whether someone is a college student opening a first savings account, a young professional building an emergency fund, or an established worker preparing for unexpected expenses, the process begins with intentional decisions.
There is no single savings strategy that works for everyone. The most effective approach is one that fits an individual’s income, responsibilities, and lifestyle while leaving room for unexpected costs and occasional enjoyment.
As Emily and Quinn explain, finding little ways to avoid unnecessary spending can make a meaningful difference over time. A paycheck split, a homemade lunch, or an occasional coffee made at home may seem insignificant in the moment, but consistent habits can help build greater financial stability.
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