Savings accounts vs term deposits
With interest rates in flux, where you park your cash matters more than ever. Should you embrace the flexibility and changing returns of a savings account, or lock in a fixed interest rate with a term deposit?
Savings Accounts
What you need to know about gifting money to your kids
Gifting money to your children or grandchildren is more than just a financial boost – it’s a chance to support them meaningfully and teach them about managing money.
How to create a budget for better savings
If you've ever reached the end of your pay cycle and wondered "Where did all my money go?", you're not alone. Good news though, there is a solution!
Types of Savings Account
No matter what you’re saving for—whether it’s a holiday, a home deposit, or a new pair of shoes—there’s a savings account suited for every savings goal.
What is a savings account?
A savings account is a secure and easily accessible place to store your money. Unlike a regular transaction account, which you use to pay bills and cover expenses, a savings account is designed for depositing funds for future needs while earning interest.
How to calculate interest on a savings account
Savings accounts can be a great way to earn interest on your hard-earned money. Not only do they provide a safe place to store your cash (as they are guaranteed under the government’s Financial Claims Scheme), but many offer quick access to your cash if needed.
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How much of my income should I save
Half? A quarter? A dollar? It can be challenging to figure out how much of your income you should save. Thankfully, there are ways of figuring this out so that you can start saving for whichever goal you’re aiming for.
How much does the average Australian save?
Choppy financial waters have meant that the average saver has burnt through their cash quickly this year. In fact, Mozo’s 2024 savings report found that 1 in 6 (16%) Aussies are putting their savings goals on hold.
A Guide to the Financial Claims Scheme
Ever wondered what might happen to your savings if your bank failed? The Australian Government's Financial Claims Scheme (FCS) is designed to protect you in such scenarios.
Your essential guide to building an emergency fund
An emergency fund is a sum of money you set aside that can support you if you experience a difficult financial time. It might be an unexpected event such as a medical emergency or losing your job, or you might be getting hit hard by the rising cost of living.
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15 simple ways to save money in 2024
Saving up cash doesn't have to be a complicated process. At the most basic level, it requires spending less than you earn. Normally, this means having to cut out discretionary spending, although you can offset this by finding new sources of income.
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What are joint savings accounts?
If you’re planning on saving with someone you trust, it can be a hassle to calculate between separate accounts. That’s why a joint savings account can be pretty useful. But what are they and how do they work?
Can I ask for a better rate on my savings?
With rates climbing upwards and the rising cost of living causing stress, we’re all looking to save money wherever we can. The first things we look at are always the big expenses - home loan repayments, credit cards - but could you be earning more on your savings?
Savings account news
Sate your high-interest appetite with savings updates and belt-loosening news.
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Top savings and term deposit rates: December 2025
In a market where every dollar counts, optimising your savings returns is paramount.
Smart year-end money moves for every Aussie: Gen Z to Boomers
As the year winds down and the festive season ramps up, it’s a great moment for people of all ages to take stock of their finances, and set yourself up for a stronger 12 months ahead. Whether you’re just starting out, mid-career, or thinking about retirement, a few simple money moves now can make a big difference. Here’s what to consider, depending on the generation you belong to.
Australia’s Best Savings, Term Deposits and Bank Accounts Unveiled
You work hard for your money and it should work just as hard for you! That’s why, each year Mozo’s team of money experts assess and evaluate every savings account, term deposit and everyday bank account in our database to determine the best value options for Australians.
I missed out on $310 in savings interest: avoid the mistakes I made and get a high interest savings account that works for you
Building a strong savings habit starts with knowing how to make your money work harder.