Key Tips for Saving
What you can do
- Here are some hints on how you can start saving money today!
| Save a fixed amount of money every pay in a separate account More for your future goals, and an emergency source of money |
| Get your employer to pay direct to your account |
| Save your pay rises, bonuses, special payments or tax refund |
Savings build up significantly over time as you continue to live within your existing budget!
And here are some more tips to increase your savings:
| Pay any payments (ie car) fortnightly instead of monthly |
| Pay extra if you can afford to. It saves interests costs and pays your loan sooner |
| Get your lender to deduct your extra payments fortnightly |
| Budget a specific amount for fun, leisure and personal expenses. It controls impulse buying and makes it easier to stick to your budget! |
| Put your change into a savings jar at the end of each day. This way you create a little stash of ready cash. You can then use this money for small personal expenses |
| Make extra superannuation contributions from your pre-tax salary (salary sacrifice). You'll have more money for retirement and less personal income tax paid. You can discuss this with your pay officer, but make sure that you can afford to make extra contributions. |
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