Saving $’s

saw this and thought it was worth posting for interests sake (no pun intended)

Find it hard to save money?

You’re not alone. Studies have shown that one third of Australians find it impossible to save (The Sunday Telegraph, August 18, 2001). Other people find saving money difficult or boring, so they put it off. Before they know it, everybody else is buying a new car or a house or going on holidays and they’re left wondering where they went wrong.

Don’t find yourself in this situation. Follow the five simple steps below and you will be the one on the right track.

Start now

Don’t put it off. If you start saving now, you can earn even more interest on your money, especially with savings accounts that pay a high variable interest rate on every dollar. The sooner you start saving, the more you will benefit from compounding interest too.

Start small

There are some accounts that have no minimum deposit, so you can start saving right now with any amount you like, even if you only have $10. And you will still be earning a high interest rate.

Forget about it

Set up an automatic savings plan so that you add a certain amount to your savings weekly, fortnightly or monthly. Then you will be saving money without even noticing! Just set it and forget it.

Earn more

Sick of bank fees? Well, there are some saving accounts that don’t have any. So your savings will actually go up each month, rather than having the interest payments eaten away by bank fees.

Enjoy

Now that you have some savings, you can afford that new car, computer, holiday or wardrobe. Enjoy your goal; you deserve it!

By following the simple steps above, saving can be much easier than you thought.

“Money is a currency, like electricity and it requires momentum to make it Effective”
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