How to achieve your 2026 savings goals in 5 simple steps

Got a list of financial goals that feels more like a wish list? If you’re feeling stuck, let us show you that achieving your 2026 savings goals doesn’t have to be complicated or restrictive. With the right plan, a few smart systems and some consistency, you can absolutely reach those savings goals.

In this guide, we’ll walk you through five practical steps to help you set and achieve your savings goals, whether you’re saving for a house deposit, paying off debt or planning a holiday, we’ll help you keep the momentum going well beyond the new year.

Before we get started, download our free Goal Setting Template to help you map out your goals, deadlines and savings targets.

To achieve your financial goals, you need to understand why they matter to you. If your answer is “because I should save more money,” it’s time to dig a little deeper. Your savings goals need to mean something to you, otherwise they are easy to ignore when life gets busy.

Think about the life you want to live. Are you dreaming of home ownership, becoming debt-free, taking an overseas trip, retiring comfortably or finally booking that holiday to tropical beaches without relying on credit cards? Whatever your goal is, get specific and picture it clearly.

Manifest your success

Visualising your goals can genuinely help keep you motivated. Picture the home, the holiday, the financial freedom or the relief of having money set aside for emergencies. When your goal feels real, you are more likely to stick to it.

Instead of vague goals, try this:

• Instead of “I want to save money,” try “I want to save $20,000 for a house deposit in two years.”
• Instead of “I want to pay off debt,” try “I want to clear my $5,000 credit card balance by this time next year.”

When your goal has a clear purpose and a realistic target date, staying on track becomes much easier.

A goal without a plan is just a dream.

Tammy Barton | MyBudget Founder & Director

Breaking your savings goals into smaller, regular contributions makes saving easier and more sustainable.

Large goals can feel overwhelming until they are broken into monthly savings targets or weekly amounts that fit your salary and cash flow.

For example, if your goal is to save $10,000 for a car over two years, thats:

• $417 per month
• $193 per week
• Or roughly $14 per day.

Suddenly, that goal feels a lot more doable. Progress is progress, no matter how small.

This approach works whether you are saving in a savings account, interest account or preparing funds for an investment account later on.

Track your progress

Tracking progress against milestones helps you stay motivated, even when progress feels slow. Consistency matters more than speed. Tools like our free Personal Budget Template help you track your balance and adjust your savings plan as your financial situation changes.

The best savings goal to prioritise is the one that reduces financial stress or protects you when life happens.

For many people, this means focusing on:

• An emergency fund
• Paying off credit cards with high interest rates
• Stabilising cash flow so bills are paid on time.

High interest rates on debt can quickly undo savings progress, so addressing this early often leads to better long-term results.

Once your most pressing goal is under control, you can shift focus to longer-term goals such as saving for a house deposit, a major life event like a wedding or a new baby. You could even start investing or saving for retirement.

Automating your savings removes emotion and decision-making from the process.

When you automate your savings, money is transferred before you have a chance to spend it. This is one of the most effective saving strategies.

Ways to automate your savings include:

• Setting up automatic transfers on payday
• Move money into a separate savings account
• Create a regular savings plan that aligns with your income.

Automating your savings also allows you to benefit from interest earned, bonus interest and the power of compound interest over time.

If you’re a MyBudget client, we take care of this for you. We calculate what you can afford, manage your bills and automate your savings so your goals keep moving forward, even when life happens. Find out more on how MyBudget works.

Most people struggle to achieve their savings goals because their plan does not adjust when their financial situation changes.

Common challenges include:

• Underestimating expenses or discretionary spending
• Relying on willpower instead of systems
• Not reviewing balances or deadlines
• Trying to manage savings alone.

Expenses like medical costs, vet bills or unexpected repairs can derail progress if your plan does not allow flexibility.

Using a structured system, whether through a budgeting app, spreadsheets or support from a MyBudget Money Coach, helps you stay on track even when priorities shift.

At MyBudget, we help Australians manage money with confidence, even as expenses and life circumstances change.

For over 25 years, MyBudget has helped more than 130,000 Australians create realistic savings goals, manage expenses, automate savings and build long-term financial security.

With MyBudget, you receive a personalised plan, expert support and 12-months visibility of your money, all designed to help you work towards financial freedom at a pace that suits your lifestyle.

Enquire online or call 1300 300 922 to book your free, no-obligation appointment and start turning your 2026 savings goals into real progress.