1. Follow the money

Nobody likes the sensation of not knowing where your pay check goes, and there’s a good reason for that. The sooner you get rid of that feeling, the sooner your deposit could grow.

2. Your budget shouldn’t break you

As a budgeter, you have a breaking point. Let’s face it, if you take away every last treat, you’re actually more likely to fall off the wagon and end up saving nothing. Pick one or two things every month that you’re not going to feel guilty about – a movie, a massage, a night out – and really savour it.

3. Your savings need a saviour

The biggest danger to your savings is time. An unexpected dinner here, an extra coffee or 20 there, and suddenly the decimal place in your account has jumped a couple of places to the left. The longer you keep your savings in your everyday transaction account, the bigger the chance that you’ll chip away at them until they’re gone.

4. Give yourself less credit

There’s something mysteriously easy about spending money on a credit card. Even if you’re aware that you have to pay it off this month, it seems easier to swipe away with a credit card than it is with a debit card.

Self-portrait for Bankwest

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