Dreaming of a break over the Christmas holidays? Maybe you’ve had your eye on some new sporting equipment? Perhaps you’d like to invest in a great new outfit for the party season.
No matter what you’re saving for, BankSA can help. Setting a goal and having a savings plan is easier than it seems. We suggest these basic ideas to get motivated and stay on track:
- Identify your goal and make a savings plan. Our budget planner calculator will show you how much you can save each week. Consider linking a high interest savings account to your transaction account and set up automatic deposits.
- Write down your goal or make it visual. Set an image of your dream holiday destination as your computer screensaver, or post up a reminder that says, “I will save $100 a week”.
- Know yourself and your motivations. Some people can stay on track by checking account balances and watching their savings grow. Others really need a small reward – if they save $50 a week for a month, for example, then they’ve earned a treat like dinner with friends.
Small steps are perfect. If you’re young, you may be able to get help from family by asking them to match your savings. If you’re paid a bonus at work, get a tax refund or receive a cash gift, deposit the lump sum straight away to make saving painless. Small, regular automatic deposits also have the power to help you save over time.
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What about saving your coffee money each week? This will save you about $800 a year, while taking your lunch instead of buying will save between $2000 and $5000 a year.
We have banking ideas that can really help:
- Save automatically with BankSA SENSE, where many card purchases are rounded up to the nearest dollar and the rounded amount is deposited into your SENSE Savings account.
- Try Term Deposits to invest your money, so you don’t spend it
- A high interest online accounts with an Automatic Savings Plan
- A savings account that rewards you with bonus interest every month you make at least one deposit and no withdrawals.
If you’re ready to start saving, we can make it easy. Visit our website http://www.banksa.com.au/personal/bank-accounts/saving-for-goalisit or call us on 13 13 76
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