Be clear on what you are saving for, how much you need to save and by when. Having a clear goal will help you stay motivated and focused on your savings.

A rule of thumb you can consider is to put 20% of what you earn towards savings.

The best way to start is to list off all your outgoings and compare them to what you earn. Check what you have left over at the end of each month, leave some money for the fun stuff, and then set aside the rest for you to save.

When saving don’t forget to plan for the rainy day – a good benchmark is to have enough saved to cover three to six months’ expenses.

If you don’t already have a savings account, now is the time to go ahead and open one! We have lots of different saving accounts to choose from. Click here to find out which one suits your needs.

Treat your savings like a bill that must be paid each month. Set up an automatic transfer to move money into your savings account as soon as you get paid. Check out how to do this here. 

Check in on your savings progress regularly. Celebrate milestones and adjust your savings plan as needed to stay on track towards your goals.

By following these tips, you can build good savings habits and you’ll be able to treat yourself when you achieve your saving goals.