6 habits our Mozo Money Experts say are worth cultivating

By Gabriella Margerison · · 2 min read
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Managing your finances can be tricky, especially with the cost of living crisis many Aussies are facing. But fear not, our Mozo Money Experts have rounded up some cracker tips to help you nail your money goals. 

So if you’re ready to turn your cents into dollars and just make smarter money moves, take some advice from our gurus and make it happen!

1. Pay yourself first

Imagine if every payday was like finding a hidden stash of Tim Tams in the pantry. Exciting, right? Make it a habit to stash a portion of your income into a savings account before you even think about spending. It’s like treating your future self to a little financial cushion.

2. Track your spending

Keeping an eye on your expenses is crucial for staying on top of your finances. Regularly monitor where your money is going. Budgeting apps can help you see exactly how your dollars are being spent, allowing you to make smarter choices.

3. Build a buffer

Life’s full of surprises, some fun, some not so much. Be ready for the unexpected like a busted car or a surprise vet bill. Aim for at least three to six months' worth of expenses. It’s your financial safety net!

4. Automate your bills

Set up direct debits for your regular bills and payments. It’s like having a personal assistant who never forgets to pay the electricity bill. Plus, you’ll avoid those pesky late fees and keep your credit score shining bright like a diamond.

5. Plan for big purchases

Got your eye on a new car or planning a renovation? Instead of using credit, start a dedicated savings fund for big-ticket items or take advantage of a mortgage offset account. This approach can help you avoid debt and interest charges, making those large purchases more affordable in the long run.

6. Practise mindful spending

Before making a purchase, ask yourself if it’s a need or a want. Practising mindful spending helps you avoid impulsive buys and ensures that your money is going towards things that truly matter. This habit can lead to more thoughtful and intentional financial choices.

There you have it, folks! Six savvy money habits to help you take control of your finances and pave the way for a more secure and prosperous future direct from our Mozo Money Gurus. Remember, it's all about making those small, smart choices that add up to big wins.

Last updated 27 March 2025 Important disclosures
  • Promoted

    Online Savings Account

    Maximum rate
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    Bonus rate for the first 3 months from account opening.
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    Savings Maximiser

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    (for $0 to $100,000)
    Deposit $1,000 into a personal ING account, make 5 eligible transactions with a linked Orange Everyday account and grow the balance each month.
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    • Zero ING fees to pay
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    • Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024^
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    Boss Saver

    Maximum rate
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    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
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    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
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  • Savings Maximiser

    Maximum rate
    5.40 % p.a.
    (for $0 to $100,000)
    Deposit $1,000 into a personal ING account, make 5 eligible transactions with a linked Orange Everyday account and grow the balance each month.
    Standard rate
    0.05 % p.a.
    (for $0 and over)
    Go to site
    • Zero ING fees to pay
    • Move money easily via app
    • Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024^

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    5.15 % p.a.
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    New customers who open an account by 30 June 2025 receive an introductory bonus 0.70% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
    Standard rate
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    • No monthly deposit requirements or lock-in terms
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    • Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024^

  • Boss Saver

    Maximum rate
    5.10 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.55 % p.a.
    (for $0 and over)
    Go to site
    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • Savvy Saver Account

    Maximum rate
    5.10 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
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    0.55 % p.a.
    (for $0 and over)
    Go to site
    • No minimum balance required
    • Move money in and out and still earn interest
    • Transfer or make payments using the mobile app

  • Online Savings Account

    Maximum rate
    5.00 % p.a.
    (for $0 and over)
    Bonus rate for the first 3 months from account opening.
    Standard rate
    1.00 % p.a.
    (for $0 and over)
    Go to site
    • Introductory bonus rate for the first 3 months
    • No minimum monthly deposit
    • 24/7 account management via the app

  • Smart Saver Youth Account

    • under 25
    Maximum rate
    5.00 % p.a.
    (for $0 to $50,000)
    Increase account balance by any amount and make no more than two withdrawals
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    Maximum rate
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    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.
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    • $250K maximum balance

  • Bonus Saver

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    4.75 % p.a.
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    Standard rate
    0.25 % p.a.
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    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
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  • Hi Saver

    Maximum rate
    4.75 % p.a.
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    Bonus rate for the first 4 months from account opening
    Standard rate
    0.25 % p.a.
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    • Earn bonus interest for the first four months
    • No Minimum balance required
    • Transfer or make payments using the mobile app

  • Bonus Saver Account

    Maximum rate
    4.75 % p.a.
    (for $0 to $250,000)
    Deposit at least $20 each month and make 5 Visa Debit transactions with a linked Glide account.
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    0.05 % p.a.
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    • No fees or penalties for withdrawing money
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  • Smart Saver Account

    Maximum rate
    4.25 % p.a.
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    Increase account balance by any amount and make no more than two withdrawals
    Standard rate
    0.05 % p.a.
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    • No monthly account fees
    • Earn bonus interest (T&Cs apply)
    • 24/7 account management via the app

  • SwiftSaver Account

    Maximum rate
    4.25 % p.a.
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    Minimum deposit of $10 and no withdrawals in the month
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    • Earn bonus interest each month (T&Cs apply)
    • Open up to five accounts
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  • Kids Saver Account

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    Standard rate
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    • Help your child develop good spending and saving habits.
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