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Pay Day or Save Day?

21 Apr 2015

Having a savings account can be a bit daunting. There’s pressure to put a decent chunk of money in each pay day, but that’s not always possible. 

I know I always feel a bit guilty when I can’t deposit the amount I wanted to, which often leads me to depositing nothing. If I can’t put everything in that week, might as well put nothing in, right?


Even a small amount every pay can grow your savings, and start you on the way to a good money habit. It doesn’t seem like much, but it really does add up. The first time is always tough, but it gets easier with each consecutive pay.

Not sure on how to make it happen?

Imagine that you replaced two of your barista coffees each week with two home or office made coffees. Then put the money you would have spent (say $10) into your savings account, or put $20 per fortnight directly from your pay into your saving account. Over 12 months you would have saved around $528 including some interest. As a java person myself, I know how tough it is to forgo my barista coffee, but two homemade coffees a week really is a small sacrifice to make to get on the road to better savings.

If you’d like some other savings tips, visit guides/saving or our own Be SMART section on our website and see what others have been doing to boost their savings. And remember, a little really does go a long way.

Talk soon ...

Money Penny