Student Saving Plans
Student savings plan vs dollar jar
"I like the idea of student savings but don't actually have any."
Yes, a bowlful of gold coins warms the heart and triggers McDuck-inspired bathing fantasties, but unless you're a vending-machine operator it's not likely to build up to a laptop, stereo, or other "big ticket" item (like plane tickets). This is where a student savings plan – or Goal Oriented Savings – can help.
Step one: Decide on a goal.
Tedious, irksome penny-pinching is so much flirtier if there's something shiny and new to drool over. Choose something attainable and sit tight.
Step two: Can you afford to put a set amount into your student account each week or month?
This is the fastest, surest way to GROW YOUR PILE. It's nice to commit to a minimum regular deposit up front, as otherwise you're liable to lose the initial enthusiasm, as with a gym membership or long-distance romance. Many student savings accounts reward regular contribution — plus you can project your future wealth (check out our savings goal calculator) to visualise your pile-growing.
Step three: Find the right student account type.
These days, there are lots of conditions on high interest student accounts:
- Do you need access to your cash?
- Can you meet minimum balance or minimum deposit requirements?
- Is a bonus rate in your best interest?
- Should you in fact be looking for a student term deposit?
Check out the different type of student savings account, and find your perfect match.
Step four: Find the best interest rate!
Easier than it sounds: Search the student savings account in mere minutes.