.jpg)
Tip 1 - Understand your money story
If you haven’t used your spending tracker in the app to see the different categories you spend in, give it a try. Or go deeper still by exporting your transactions into a spreadsheet, like the ASIC budget planner. The more you know, the more you can align your spending with what you value most.
Tip 2 - Lock in a savings boost
Term deposits have been popular with savers because they pay a guaranteed rate of return. Since the money is locked in, there’s also less temptation to use it for something other than savings, and the interest rates are typically higher than regular savings accounts. Try it for 3 months.
.jpeg)
Tip 3 - Round up your payments
Round UP for transaction accounts is like saving without thinking. You can round up eligible Bank Australia card purchases to the nearest $1, $5 or $10, and have the extra amount sent to your nominated savings account. Log into the app, select Round UP from the side menu, and follow the prompts.
Tip 4 - Fall in love with your local library
A humble library card can open up a whole world of no-cost enjoyment: try out free streaming with Kanopy, borrow ebooks with Libby (or check out Project Gutenberg) or even access courses through LinkedIn Learning. Ask your librarian for more info, or search online.
.jpeg)
Tip 5 - Nibble away at your food budget
Dining out and food delivery is fabulous when you have money to spare. But when it comes to saving, meal prepping for lunches, simple picnics, BBQs, and potluck dinner parties can make a big difference. Making the most of meal kit delivery special offers can also be a surprisingly effective way to avoid food waste and manage supermarket costs.
Tip 6 - Do a stocktake and sell, sell, sell
Take stock of unwanted gifts, clothes and household items. What could you sell? There are lots of resale services online, as well as stores that allow you to resell your things. (Keep an eye out for dodgy buyers though, like one our staffer Ellie spotted on Marketplace…)
Tip 7 - Keep the bigger picture in mind
While saving you can also make a real difference for the planet. Like walking, riding or taking public transport rather than driving and paying for petrol and parking. Also buying secondhand furniture or clothing rather than buying new. Also key: being kind to yourself and doing what you can where you can (we know it’s not always simple or easy.)
