Most Aussies have been saving up to spend on Black Friday

People shopping on Black Friday

More and more Australians are starting to plan their shopping around sales events, with 74% saving up to spend on Black Friday, according to Power Retail.

This represents a 16% increase on last year’s figure.

As one of the most anticipated shopping events this year, Black Friday tends to bring with it heavily discounted items, making it an obvious goal for many money saving-focused people.

Finding good deals is top of mind this time of year, and according to the report the average minimum discount shoppers will accept is $32.

However, the real takeaway is perhaps that shoppers are planning ahead in order to save, no matter what that saving is.

Saving money at sales might be a good savings goal

If you’re wanting to be a better saver, cutting down on what you spend isn’t a bad place to start.

Here are 4 tips to help you use sales season to your advantage this year and reach your savings goals:

1. Make a wish list

It’s okay to be wishful sometimes, even if it’s for socks. Write down everything you need to buy, from everyday items to gifts. Having a clearer picture can help you see where there might be areas to save.

2. Create a budget

If you stick to your list, and then a budget, you’re off to a flying start. Be realistic with your budget. Make sure it covers your need-to-haves first, your nice-to-haves second.

3. Compare sales

An item that is 15% off on one site might be 30% off on another site, so take the extra time to compare deals that might save you even more.

4. Consider a different brand

If you need a red jumper for Uncle Ben and the one you wrote down is 10% off but another brand is 30% off, consider switching brands. Uncle Ben won’t know, and you’ve just saved yourself some money.

Once you’ve saved all that extra cash following the holiday sales period, you’ll need somewhere to park it. A high interest savings account can be a great place to keep your money and also give it a boost with a top interest rate.

Check out some of the top interest rate savings accounts Mozo tracks in our database below, or compare savings account providers.

Top interest high savings accounts - last updated 25 February 2024

Search promoted savings accounts below or do a full Mozo database search. Advertiser disclosure
  • Reward Saver Account

    5.25% p.a. (for $0 to $1,000,000)

    0% p.a.(for $0 and over)

    Yes up to $250,000

    Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

    Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.

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    Details
  • Mozo Expert Choice Badge
    High Interest Savings Account

    5.75% p.a. (for $0 to $250,001)

    4.40% p.a.(for $0 to $250,001)

    Yes up to $250,000

    Bonus rate for the first 4 months from account opening

    Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.

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  • High Interest Save Account

    5.10% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    Deposit at least $200 to either Spend or Save account from an external source each month.

    No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.

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    Details
  • Mozo Expert Choice Badge
    Savings Account

    5.50% p.a. (for $0 to $250,000)

    4.75% p.a.(for $0 to $1,000,000)

    Yes up to $250,000

    Bonus variable rate is available for the first four months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.

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  • Hero Saver

    4.60% p.a. (for $0 to $250,001)

    1.00% p.a.(for $0 to $5,000,001)

    Yes up to $250,000

    Minimum deposit of $200 and no withdrawals in the month.

    Earn a generous variable rate on balances up to $250,001 each month you deposit at least $200 (excluding interest) on or before the last business day each month and make no withdrawals during the month. $0 account maintenance fees. Create a goal, set up regular deposits and track your progress on the Bankwest app.

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^See information about the Mozo Experts Choice Savings Account Awards

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