Tips on Saving Money

Friday December 5, 2008

If you've got a savings goal that seems out of reach because you're having trouble putting money into your savings account, it can be handy to get some ideas about how to save. It's important to remember that every little bit helps. It might only be a small amount, but it does help.

Here are some ideas to help you get money into your bank account:

• If you smoke, give up the cigarettes. Not only are they an expensive vice, but they're bad for you!
• Collect your small change in a large jar. A big jar can fit thousands of 5 cent coins in it so you could end up with a surprisingly big amount in your change jar.
• Budget, budget, budget - if you set up a sensible budget, you'll probably find you can have extra money left over to put into your savings account.
• Have money automatically directed from your pay into your savings accounts.
• And an oldie, but a goodie - save money by bringing your own lunch to work and give up the daily coffee. You'll find your own lunch tastier and if your office has a coffee or tea in the tea room, use that instead!

A high interest savings account also can earn you extra money. The Macquarie Cash XL savings account offers a high interest rate of 6.25%p.a, with interest calculated daily and paid monthly. With no transaction fees and no establishment fees, all your savings are yours. There is no opening deposit and ongoing minimum balance required.

You can apply for a Macquarie Cash XL savings account today online. So sign up and start building up your savings!

Check out our other money saving tips.

Compare savings accounts and bank accounts.

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