Reach Your Goals Sooner


Create Good Saving Habits

These are some strategies that can help you (or your kids) become a successful saver and reach your goals sooner.

Understand your spending habits

Before you know how much you can afford to save, you need to figure out how much income you have coming in and how much you’re spending, too. Right down to the smallest purchase.

Sort out what you’re saving for

Having a goal in mind certainly makes it easier to stick to your spending plan and savings plan.

No matter what your goal is, we have budgeting and savings tools to help you out..

‘Out of sight, out of mind’ is a saying that really rings true when it comes to saving. This is why setting up a direct credit from your pay to your savings account each payday can be a big help with saving.

Think before you buy

‘Mindful consumption’ is a good habit to get into. It’s not just to help you save in the short term. It can also help you stick to a budget once you have larger financial responsibilities.

To help avoid impulse shopping, if you see something you like, walk away. Go and think about it, even if it’s just for an hour. Chances are you’ll realise you really don’t need it after all, or can do without it in the long run.

Sell unwanted goods

Cleaning out your cupboards and getting rid of things you don’t use or need doesn’t just clear up your space it can even lead to some extra savings.
You could sell what you don’t want on Ebay or Gumtree. Or even try a good old-fashioned garage sale.

Cut back on the extra stuff

What can you really make do without? Trips to the movies? Eating out?

Remember, the short-term pain of giving up what you love will be worth it when you’ve saved for your first home deposit or that overseas trip you’ve been dreaming of.

And even if you feel like there are things you just can’t do without, there are still ways to cut costs, why not:

  • Compare shopping on sites like myshopping, shopbot and getprice.
  • See how things like gym memberships and insurances stack up online to find better deals.
  • Car pool – or leave the car at home altogether, and use public transport.
    Reduce the amount of magazine subscriptions you may have and view online instead.
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Get Organised and Creative

More often than not it’s the smaller, everyday purchases that start eating into your budget. Do you buy your lunch and coffees every day? That could be as much as $100 a week you could save by bringing your own.

Weekends can be trickier, especially if you like socialising. So get creative. Instead of going out for dinner, why not take turns with friends to host a casual dinner at home, or have a movie or games night with family or friends?

Don’t kick your savings habit

Being a good spender and saver has plenty of advantages well beyond any short-term financial goals you might reach to begin with.