4 of the best ways to save: What type of saver are you?

We’ve all been told that we should save money, whether it's for a new car, a holiday to Japan or simply to have in case of emergencies. And 60% of Australians have some kind of savings in their budget, says a recent survey from NAB. 

That’s all fine and dandy but the real question is, what type of saver are you? Take a look below to see which one sounds like you or which type of saver you’d like to become.

1. Habitual saver

A habitual saver makes it a routine to save for everything and anything. You could say it's in their DNA. These types of savers are likely to be saving for a house deposit or have an investment strategy.  They also allocate an amount of their pay to savings and are big on sinking funds.

How to be a habitual saver

The key to being a habitual saver is creating a habit just like the name implies. If you are looking to become this type of saver, we suggest that you plan your month of spending by creating a budget that lets you see where your money is going.

2. “Make it a game” saver

Who doesn’t like a good saving challenge? People who gamify saving find themselves following quirky ways to make sure that their savings are always growing. And by making it a game, saving can become fun rather than a task that you must do.

How to be a “make it a game” saver

First things first, find a money saving challenge that could be fun to stick to. Some of our favourite challenges are: the Weather Wednesday Challenge, and the $5 saving challenge. If you are stuck on what challenge you should do, check out our money saving challenge list.

3. Goal-driven saver

A goal-driven saver tends to save when they have a goal in mind. They are motivated by their goal to reduce expenses and find ways to save extra cash. People who are goal-driven savers tend to have separate savings accounts for each of their goals and look for ways to maximise their savings with high interest accounts.

How to be a goal-driven saver

For starters find one or two things you’d be interested in buying or having in the future. Once you do, create a savings account and start depositing money every time your paycheck lands on your everyday account. Sinking funds are great for those looking to become a goal-driven saver.

4. “When I remember” saver

Saving money is a skill you gain over time, so there are many Aussies who are when I remember savers. There is nothing wrong with not having a savings account or goal. 

How to be a “when I remember” saver

Just like the name entails, put some money into a savings account whenever you remember. It’s as easy as that!

No matter what type of saver you are or choose to be, remember that saving is just like getting fit– it takes time and discipline but you may surprise yourself at how rewarding it can be.

If you want to read more on how to grow or get started on your savings check out our savings news and advice for more tips and tricks. Or, if you’re interested in looking for a new savings account take a look at the interest rates on offer below.