Savings are something that most people strive for though do not think they can achieve as the strain of managing day to day expenses and financial commitments can be a burden.

You do not have to have a high income to save. Everyone should have a buffer for unexpected life events.

Having emergency savings means that you do not have to find a quick fix and go to high interest, payday and short term cash advance lenders who often target the most vulnerable.

You can start off small e.g. $10-$20per week or fortnight depending on how often you get paid, and by the end of the year you will have at least $240 saved. Nominating direct deposits into your savings account through your employer’s payroll, is one way to make saving for a rainy day that little bit easier.

The best way to make the most of the money you are saving is to deposit the funds into a high interest savings account to watch your money grow, and to add to these savings with any bonus lump sum payments received throughout the year.

So where do you start and how can you save?  Ways to save everyday are by reducing expenditure in non-essential areas of spending, using a piggy bank for those coins that tend to end up everywhere but in your pocket, tracking spending, avoiding impulse buying and creating a budget as a means to reflect exactly where your money is going.

If you want to use your savings for non-emergency items, consider opening a separate savings account, and soon you will be on your way to being Savings Savvy!!!

For more tips and tricks on making your money work for you, go to

If you would like some assistance with sorting out your budget, contact Midlas on 9250 2123 to book an appointment with a financial counsellor.

Midlas Mission: We partner with individuals and organisations to promote independence, strength and wellbeing in our community through support, advocacy and education.