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INSIGHTS
New Year = Fresh Start
When the new year rolls around, it’s a chance for a financial fresh start and to make some plans for the year ahead. If you’re feeling motivated and inspired to set some goals, there’s never been a better time to use that energy. Get closer to your goals and enjoy the best moments of life. Read on for more tips on how to make the most of your savings journey and remember, it pays off to save!
Set your goal
Set yourself a savings goal and watch your dreams come closer with each deposit. Pick a meaningful name for your goal and rename your savings account in via online banking. Every time you transfer you’ll feel the excitement of being one step closer to “Home Sweet Home” or whatever dream you’re working towards.
Stuck on a name? We asked some of our Hume Bank staff what they were saving for in the new year and what they have named their accounts to keep them motivated
The brides
- Our Wedding Fund
- Ring It On
- Big Day Fund
The travellers
- Passport
- Sunset Cocktails
- Adventure Awaits
The first home buyers
- Home Sweet Home
- Our First Place
- My Place
The new car savers
- New Wheels
- Vroom Vroom
- Beep Beep
The just in case savers
- Emergency Fund
- Piggy Bank
- Secret Stash
Visualise success
Visualising your goal can create a powerful mental connection between your actions and the outcome. Spend some time thinking about how it will look and feel when you finally achieve it. To keep your vision alive, keep a photo of your goal somewhere you can see it every day. This constant reminder can motivate you and keep you focused on the end result. Picture your success daily and let that vision drive your actions.
Build a savings routine
Make saving simple by setting up automatic transfers as soon as your salary hits your account. By automating your savings, you can adopt a “set and forget” mindset, ensuring that a portion of your income consistently goes towards your goal without any extra effort on your part.
Celebrate milestones
No matter how you save, every bit of progress is important so make sure you give yourself a pat on the back as you hit those saving milestones.
Each time you reach one of your milestones, you’ll feel a sense of achievement that spurs you on to the next! Think of it as a series of small wins that keep you motivated and energised to keep going…and going…and going!
Optimise your spending to maximise your saving
Spend less, save more. Easy to say, hard to do right?
Start by reviewing expenses like subscriptions and memberships, and consider redirecting those funds towards your savings goal.
Taking a closer look at where your money goes can give you more understanding of your own spending habits and how you might be able to fast track your savings by cutting back on your expenses. Keep an eye on your spending, and you’ll find more ways to boost your savings and reach your goal faster.
At Hume Bank, the payoff to saving is closer than you think. Get closer to your financial fresh start now! Open a Reward Saver account at Hume Bank, deposit $25, and we’ll add $25 FREE to get you started. Start small, and watch your savings grow.