That elusive home deposit or family holiday may be closer than you think! We have some tips to share that will boost your savings and, best of all,  require minimal effort.

At first, the savings might seem insignificant, but tally them up over months and you could be thousands of dollars closer to your goal.

1) Turn off autofill for online shopping

Having your credit card details saved online makes it far too easy to spend money without really thinking about it.

Even the small extra effort of having to pull out your card, or type out the numbers can be enough of a deterrent to stop some of those impulse purchases.


2) Pay with cash and save your loose change

It’s an oldie but a goodie, but it’s been proven that if you can actually see your money, you’re less likely to spend it.  Withdrawing a set amount from your cheque account each week and using that money for day-to-day purchases can be an easy way of keeping on top of your spending.

While you’re at it, stash loose change from your transactions in a jar and watch how quickly it fills up.


3) Name your bank accounts

Change the name of your savings account to “Disneyland Trip” or “New Kitchen” to keep your financial goals at the top of your mind.  Each month when you receive your payslip, transfer a nominated amount to the account and don’t touch it!

Send any irregular windfalls of cash directly into this account; sales from your gumtree account, Christmas bonuses or the contents of your piggy bank (bankers love counting your coins!) and you’ll be on your way before you know it.


4) Check your automatic payments

If you go through your monthly bank statements, you may find a number of outgoing automatic payments for services you no longer use or don’t really need.  Subscriptions to outdated television packages or rubbish removal services only take a few minutes to cancel, but could save you hundreds of dollars a year.

Does someone in your household or family already pay for a Netflix or Spotify account? Cancel your individual subscription and join them on a family plan and start paying less.


5) Commit to one free outing each week

We often default to expensive activities when meeting up with friends.  Going out for dinner and a drink, or catching a movie are great ways to catch up, but can end up putting a strain on your pocket.

Try making at least one of these weekly outings a free one; enjoy movie nights in each other’s homes or get together at the local park for a run – save the cocktails for next time!