What type of saver are you? 4 savings characters to choose from

The modern world is full of options - but it sure gets difficult to select that one alternative that might work just for us. This is especially true when each of our saving goals, income and spending patterns are different. 

The key is to focus on one aspect of our finances and build from there. For example, how we save matters! Let’s take a closer look.

If you’re an anxious go-getter

you manage your finances very well and are ready to go the extra mile to achieve a financial goal. Whether changing savings accounts to a better interest rate or cutting down on a discretionary spending habit, you’re ready to do what it takes to be on top of your finances and be prepared for unexpected emergencies.

Mozo’s Tip: Knowing your financial position is a good start. One thing that can help is keeping a track of your bank account’s introductory interest rate. When it drops you can transfer your money to a better yielding savings account. A reminder on your phone can help with this. 

If you’re an instinctive saver

Saving money comes naturally to you. You have a built-in instinct which helps you save money to your fullest financial potential. You take account of every single penny that you spend, make sure you are aware of every deal that’s out there and you make the most of your hard earned cash. Some are specifically saving for a rainy day or already have that covered. 

Mozo’s Tip: Even though saving for an emergency is the best way to start your savings journey, it’s important for a natural saver to make the most of their financial potential. Make sure your savings account is giving you good interest. If not, change to a bank that gives you a better return. 

If you’re an occasional saver

You tend to shift between savings and spendings. You have a tendency to hastily buy things and then go through a phase of being very strict with your finances. 

Mozo’s Tip: You have highs and lows with your finances as you might not have a budget and an emergency fund. Having a safety net like an emergency fund will keep you grounded. A budget will help you only buy the things that you want once you’ve saved up.

If you’re a spender

Usually the one in the group who doesn’t keep a track of their savings. They don’t have a budget or any financial goals and generally go with instincts, spending whenever they want to buy something.

Mozo’s Tip: Although it’s tempting to satisfy your wants, it can benefit you to work for them instead. Don’t go and buy a pair of shoes because you woke up and felt like it. Instead, wait for a while and save for it. You might then not want it as much anymore - but now have the money for it!


Lastly, a good strategy is to plan your finances and to be consistent with your savings. Consistency is key as it will reap higher value with the help of compound interest - basically that wonderful benefit of interest working its magic over time. 

Here is a list of savings accounts and their features that might benefit you to go that extra mile to reach your financial goals. 

Compare savings accounts - last updated 4 March 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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  • 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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  • Mozo Expert Choice Badge
    Savings Account

    5.35% 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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