Saving.

According to NAB, who reached out to 570,000 of their customers in early 2023, the average Aussie as of late 2022 had about $34,000 stashed away.

If you'd like to learn clever ways to save money, check out our video course on building your savings.
 

Impulse buys. We've all been there. To avoid making any unnecessary purchases, the next time you see something you want that is a little bit on the expensive side, give yourself 30 days before you make a decision.

If you still find yourself wanting that item after a month has passed (and it is within your financial means), then go for it. For other money saving tips, why not try No Buy July or hibernating for higher savings.

Opening a savings account is as easy as one, two, ME! Typically, you just need to link your savings account to a transaction account so you can transfer money from one to the other.

Savings accounts help you reach your savings goals with features like: 

• variable interest rates 
• reduced (or no) account fees 
• bonus interest for regular savings
• no set term 

For a deep dive on savings accounts and how to save your precious dollars, watch our short video series on savings.

Bills, bills, bills! If you find yourself huddled next to the heater for most of winter then you are probably familiar with them. Luckily, there are a few changes you can make to reduce your household bills.

You could start by closing your curtains at night, opting for solar power, or shopping around for more water-friendly appliances. For more inspiration, check out our tips to help you shrink your electricity bill and meet your saving goals.

There are many ways you can start squirrelling away some cash. If you're not in the market for a piggy bank, try these instead: 

• Draw up a budget 
• Open a high interest savings account 
• Cook meals instead of eating out 
• Cancel unused subscriptions 

For more changes you can make today, check out our best household money-saving tips.

Saving preserves your money and investing grows your money. You might be thinking por que no los dos? Well, each option has their own best purpose. For short-term goals, saving is preferable as there are no barriers to accessing your money, there is less risk involved and you can enjoy predictable returns.

On the flip side, investing is a good choice for long term goals because even if the value of your investment decreases, there is time for it to recover.

To learn more about the nuts and bolts of investing, check out our online video series on investing.

Welcome to managing money with ME.

Get stuck into: Good money habits. Let's get started with Finance 101. We're looking at needs versus wants. 
Take some time to pause and read. Our hot tip is to take notes throughout each topic to really take in the info that best applies to you. Looking at needs. Now versus wants. Moving onto how to gain total money control.

First up let's plan. Then we save. Don't forget to take notes if you need to, especially on this topic. And step three we execute.

Introducing top 10 ways to save. 

Number one: Don't be tempted by sales on things you don't need, or go shopping just to pass the time. 
Number two: Pay on time discounts will also save you on late fees and interest charges.
Number three: A sanger and a coffee is money you can put towards your first ever home.
Number four: tap into the apps and websites that offer deals on everything, from car parking to resale clothing. Hello Depop!
Number five: Vaping is neither good for you, or the environment, especially when you lose it on a night out. Sorry!
Number six: Replace cocktails with wine. Instead of top restaurants, go cheap and cheerful, or cook at home.
Number seven: Save power by turning off appliances before you leave the house, and the tap when you're brushing your teeth.
Number eight: Pre-allocate an amount in your savings account for a night out. It'll be one less way to overspend.
Number nine: Get rid of the yoga you don't go to anymore, or the five streaming services you can't watch it once.
Number 10: Regular services can mean avoiding major repairs, which will cost you more later.

Let's talk about reviewing your finances regularly. Can you find a better deal? Shop around to save.
Look for best deals in banking, like transaction accounts, savings accounts, and credit cards. Best deals in insurance, including car insurance and private health cover. Steve may not be real, but the lesson is. 

Congrats on learning good money habits with ME.