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  1. #11
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    This thread inspired me to finally set up automatic payments. Aiming to save 40% of my income a fortnight, until recently I was saving half of that and paying off credit card debt, now my credit card is gone I'm not having to chuck anymore money at debt!

  2. #12
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    Quote Originally Posted by DreamyMummy View Post
    This thread inspired me to finally set up automatic payments. Aiming to save 40% of my income a fortnight, until recently I was saving half of that and paying off credit card debt, now my credit card is gone I'm not having to chuck anymore money at debt!
    Well done. Savings really are a bill to be paid first. Go you

  3. #13
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    Well done everyone! Its all relative really... extra $2 into savings tonight by rounding down.... Every little bit count right?! :-)

  4. #14
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    I need this, about to go on part pay ( then unpaid) maternity leave. At the moment I'm paying ( via dd) bills weekly, I've worked out their weekly amount and I'm paying slightly more. Once we are a month ( or quarter ) ahead I'm thinking of putting all $$ normally paid weekly in the offset account then just paying as it's due.

    I'm actually really stressing about part pay but I need to remind myself it's actually not that bad as we are saving atleast $200 a week ( from reducing childcare days, no transport to work and no buying lunch at work )

  5. #15
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    I didn't do much extra yesterday - just rounded down. $3.55 extra into savings :-)

  6. #16
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    I'll join! I put $100 into a joint savings every fortnight (as does my partner). I also make sure my transaction account stays below $500 every pay by putting the extras into a personal savings account. I'm thinking of transferring a set amount each pay though.

    We are saving for a house and I'm also saving for ttc as I think we will go with a FS this time.

  7. The Following User Says Thank You to Mamasupial For This Useful Post:

    blissfulfairy  (10-08-2015)

  8. #17
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    My aim is to save at least half of my pay each fortnight if i can. Want to reach $10,000 of savings by end of the year.

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    blissfulfairy  (10-08-2015)

  10. #18
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    Can I please ask what "rounding down" is?

    Thanks!

  11. #19
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    Quote Originally Posted by goldencrumble View Post
    Can I please ask what "rounding down" is?

    Thanks!
    Sure. I mentioned it in the op but thats okay :-)

    You "round down" to the nearest 5 after each spend - transferring the difference to savings - so if my daily account had a balance of 38.50 - 3.50 goes to savings.

    Some people use the L3N (last 3 numbers) idea. So if the balance was 38.50, you transfer 8.50 to savings. But at the moment we are on such a low income that I would miss the bigger amounts. By rounding down its a smaller amount at a time so not as noticeable, but the savings balance still slowly increases :-)

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    goldencrumble  (10-08-2015)

  13. #20
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    Quote Originally Posted by goldencrumble View Post
    Can I please ask what "rounding down" is?

    Thanks!
    Another option that we're now starting to do, is to round up to the next dollar or domination of 5 every time you use your atm card for purchases and transfer the difference to your savings account. It may only be a few cents or a dollar or two here and there but it will add up. For example if you spend 12.49 on a purchase, you can round it up to 13.00 and transfer 51c or round up to 15.00 and transfer 2.51.

    Sent from my GT-I9507 using The Bub Hub mobile app


 

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