Set a money saving goal

Decide why you want to maximise savings, what you are saving for and how much smart saving you'll need to do. Think about whether money saving is a short-term goal for you (less than two years) or long-term goal (more than two years).

Use the Savings calculator to determine how much money you need to save to reach your goal.

Make a budget

Once you have set your goal, you should work out a budget. This allows you to estimate how much "surplus" income you will have each month to put towards your savings. Use the ANZ budget planner to estimate how much "surplus" income you will have to save.

How do I start saving?

A good way to start saving is to make a lump sum deposit into a separate savings account and make regular deposits each pay day.

How do I choose the best money saving option for me?

Use ANZ ATMs to withdraw cash from your ANZ accounts to avoid fees charged for using other banks ATMs. ANZ ATM balance enquiries on your ANZ accounts are free. A good starting point is to consider the funds you have currently. If you have more than $5,000, then an ANZ Term Deposit is an option you should consider. If you have more than $10,000, then an ANZ Premium Cash Management Account offers the extra functionality of a cheque book and offers higher rates of interest for balances of $100,000 or more.

If you have less than $5,000, an ANZ Progress Saver account may suit your needs.

When choosing between saving options, it is important to consider how frequently you will need to access these funds and what type of interest structure you prefer.

How do I maximise my savings?

Choose account options that most closely align with your banking needs, so you can minimise additional withdrawal fees. For more information on these fees, click on the link below. To further increase the interest that you earn it is a good idea to put all excess funds into one interest earning account.

Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. 

ANZ recommends you read the Terms and Conditions and the Financial Services Guide (PDF 104kB) before acquiring the product.

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