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Turbocharge your savings with these tips

Turbocharge Savings

Saving is something most of us want to do more of. We often give it a go with the best intentions, but a few months down the track, look back and wonder where all the money went that ISN’T in the savings account. Here are 7 tips to turbocharge your savings:

Start with a plan

Set your saving goal, a new car, your first home or maybe an investment property. Take a look at your expenses vs. your income and see if there is anywhere you could cut back on those expenses. Then make a budget and decide how much you can realistically put away into savings each week, fortnight or month. The most important thing here is to commit to putting that money away.

Pay your savings account first

So you’ve got a plan and have decided how much you’re going to put away on a regular basis. To make sure that actually happens and the money isn’t spent elsewhere, set up a direct debit for that money to go into the savings account automatically. If you don’t see the money in your everyday bank account, you can’t be tempted to spend it.

Shop around for a high interest savings account

Obviously the highest interest rate is going to be the most attractive, but make sure you’re aware of the other conditions of the account. Common conditions include the high rate being for an introductory period and minimum amounts you need to deposit each month.

Little bits add up – save them

If you can go without an extra latte, buying a magazine or other un-necessary expense for the day, put the money into your savings account. With internet banking and the smart phone apps that most banks offer, there’s no excuse to not do this frequently provided you won’t be charged transaction fees. Those little deposits, even if only made a couple of times a week, can really add up in a month.

Get a better deal on your essentials

You can’t cut out things like the phone, electricity, internet and insurance payments, but you can save a lot by shopping around. Your current provider may even offer you a better deal or package if you let them know you are looking elsewhere and they think they may lose your business.

Stop paying for things you don’t, or very rarely use

It can be easy to hold onto a gym membership because the intention of getting into a routine is there, but just hasn’t happened. If you haven’t been for a few months, cancel that membership. If you have pay TV with all the channels but don’t really watch them all, downgrade your plan. Got a magazine subscription that you barely have time to read? Cancel it.

Get a smart phone app to track your budget

There’s an abundance of apps out there designed to help you save money. From simply tracking your expenses to keeping an eye on your whole budget and financial position, they’re a great way to really integrate saving into your everyday routine.

How we've helped our clients...

"Starting up a new business isn’t easy, with so many things to think about it can be quite a stressful process. With the services of Lend Me Asset Finance and Locate Me, they have really helped to take this stress away in the way of meeting me on my job sites to sign documents and dealing directly with the Car Dealers, Bobcat Dealers and even my accountant.

The guys at Lend Me really do take the time to listen to what you are after and work in to suit you and make the transaction so simple and convenient, I can’t thank them enough! I’ve also recommended their services to 3 friends already and have only had good feedback. Lend Me have certainly gained a client for life! Reece"

"Hi there, Saturday just gone, I picked up my dream car, a 2013 black lancer LX.

I'd like to take this chance to say Lend Me Car Loan customer service was by the far the best I have ever received. What I thought was going to be tough work turned out to be the opposite. The process easy, simple and quick for me, she did the hard yards... I will be recommending friends and family... Thanks again! Regards, Stephanie"

I just wanted to say thank you... This has been the smoothest process. You and the other girls I dealt with at Lend Me Home Loans were so friendly and so efficient with everything, I felt like I was the only customer you were dealing with.

I will definitely be raving on to loads of people about Lend Me and the great service you provide.

I am stoked, this will take so much pressure off and will seriously change our lives... we can actually get ahead on payments and start saving some more money.

Thanks again, Kath :)

"Emily & I just want to take this opportunity to say a very big thank you for seeing us through our first home purchase and home loan, you have been a massive help not to mention getting us out of a sticky situation. We will definitely be in touch in the near future and will refer/recommend you to our family & friends if looking out for a friendly, helpful and reliable mortgage broker.

Take care and speak soon. Matt & Emily" 

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