Saving Money

Saving Money


Saving money can feel like a battle, especially when there are competing demands for your income. 

For some, it comes down to something as simple as discipline and sticking to their budget. For others, they may simply not have the time in their busy lives to gain the most from their finances.

Whether you’re keen to save a deposit for a house, take that holiday you’re dreaming of or simply save for a rainy day – we can help you on the path to reaching your savings goals. 

How do your savings stack up?

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33%
One-third of households have no savings (BT Australian Financial Health Index, 2013)
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$15,427
The average household savings (ING DIRECT Financial Wellbeing Index, 2013)
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17%
Nearly one-in-five people say they'd struggle to find $500-$1000 to deal with an emergency (BT Australian Financial Health Index, 2013)



Getting serious about saving is the first step to reaching your goals.

Everyone has different financial pressures and responsibilities, so the important thing is to devise a savings strategy that suits your individual needs.

Check out these tips on saving to help steer you in the right direction.

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Matthew would like to quit his job and go back to study but, as often is the case, he has no savings. His entire pay is typically eaten up by rent, car repayments, food, entertainment and, well, other stuff.

Understandably, Matthew feels trapped and dreams about a different life—one in which he has enough savings to quit his job and make these life changes.

Matthew isn’t alone.

Only a small percentage of the public has savings to fall back on. Many are largely living week-to-week with no safety net should unexpected bills arrive or one of life’s little emergencies happen.

Do you find that you use your credit card a little more often than you’re comfortable with? Do you feel like you struggle to get ahead? Does saving money seem impossible?

The first step towards saving is to look at your spending habits. Where can you reduce costs? Most people find there are areas in their spending where they can cut back without compromising their lifestyle. Here are some suggestions:

  • Take your lunch to work instead of buying it.
  • Catch the bus or train instead of driving.
  • Plan your meals and groceries on a weekly basis and eat at home (rather than eating out).
  • Invite friends round for dinner rather than eating out and ask them to bring a plate of food
  • Give up drinking take away coffees or cut down on the amount of alcohol – sounds daunting but you’ll save money and it can be a healthier option!

You will also find many other savings tips in our blog.

We’ll show you how to save money so you can start achieving your life goals sooner.

In fact, when you have the right system in place — one that can track your progress and projects your future position — you’ll find it can be fun and fulfilling.

What would you like to save for: a home deposit, a new car, your kids’ education, an overseas holiday? Perhaps you’d like to have the option of going back to study or being a stay-at-home parent. You might simply be motivated by the sense of security that comes with having money in the bank.

Whatever the reason, the ability to make choices about how you spend your life doesn’t require great riches. We have thousands of clients —people just like you — who are on the path to achieving their financial goals.

A workable budget — one you can stick to — can show you how you may save money while still being able to meet your other financial commitments.

Want to find out more?

It’s easy to get started: the first step is having one of our friendly budgeting staff examine your financial situation and learn about your saving goals in a no obligation consultation. Working closely with you, they’ll design a saving strategy that takes into account important factors such as debt management, your unique circumstances and personal priorities – whatever they may be.

We appreciate that people are busy and that managing your money demands time that most people simply don’t have. That’s why we offer to manage your budget for you.

If you would like MyBudget’s assistance, there are lots of ways we can help you stay on track. As well as helping you to develop a savings plan, MyBudget can:

  • Give you total visibility of your finances at your fingertips 24/7 via our client website
  • Set aside your savings for you
  • Organise your savings into sub-accounts for special events or projects
  • Prioritise debt and bill payments
  • Pay your bills on your behalf using your income
  • Provide detailed reports and future savings projections
  • Set aside money for your day-to-day living expenses
  • Handle communications with your creditors, if required and you advise that you would like us to do so.
  • Arrange payment terms with your creditors, if needed

Annually, we manage $790 million in client salaries and over 3.4 million payments on our clients' behalf.

We take care of the legwork so that you can begin to relax and enjoy life.

Using your existing income, we can show you how to save money and take control of your finances.

By the end of your consultation, you’ll have a clearer picture of what may be possible and how to begin to go about achieving it.

To find out more, give us a call on 1300 300 922.

See how we have helped others...

We've helped these clients get on track and start saving

Tammy, MyBudget client

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"I never could save up enough money to do the big things. I could always find money to do everything when I needed it, but I kind of lived week-to-week and then I’d make poor money decisions. [Since joining MyBudget] I’ve been able to save a lot more - I honestly couldn’t believe that I could stretch my wage that far."

Tammy, MyBudget client

Kathryn & Giles, MyBudget client

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“We’d been to financial planners and they hadn’t really given us the structure that we actually needed,” reveals Giles, “we needed a bit more discipline and a bit more organisation than we’d been getting and that sort of focused account management that actually allows you to save has been a real bonus.”

Kathryn & Giles, MyBudget client

Tom, MyBudget client

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"Before joining MyBudget I was doing well financially, but I knew I could do better. So I thought I’d get a professional opinion...Since joining MyBudget, they’ve given me a structure to work with which has allowed me to save a lot more money...Within six months I’ve been able to save $20,000.”

Tom, MyBudget client

Find out more about MyBudget. Speak to us today. 

We can answer your questions and show you how easy it is to get started.

Get started!
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