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Consolidating your savings: how small changes could lead to spare change

10 June 2021 | 4 min read
Ah, savings. We all want more. Just when you think you might be getting somewhere, that’s often when bills and repayments, rent and other expenses are ready to bring you back to reality.

So, how can you start ascending the savings summit and, most importantly, continue climbing?


Saving means different things to different people. Because – and this shouldn’t come as a shock – we’re all different.

Yep, you’re unique. So, how you save should reflect that.

Firstly, you need to have a glance at what you’re spending your money on. A quick look over your account statements should bring to light some of your money habits.

It might remind you that you’re an absolute bargain hunter. It could also shine a spotlight on some less than necessary buys too. Whoops!

But that’s okay. Figure out your cash flow first, so you can get an idea of where your money’s going.

Our app gives you a simple and visual look at your account, offering you a straightforward view of your comings and goings.


Once you know how your pay check is being spent, you can start setting aside what’s essential to you and what isn’t.

If your bank statements are suggesting that some changes are in order, that’s achievable!

It might be helpful to put your expenses into categories. Highlighting your different expenses will demonstrate what should stay the same, what you can cut back on, and maybe even what you can eliminate all together.

Keep in mind that some expenses will change while others will be consistent. But even the consistent expenses can be reduced such as phone bills, utilities and groceries to name a few.

So, being flexible and adaptable could go a long way, especially if you’re able to lessen some of the bigger costs like insurance and housing.


Try and identify a few saving targets. And again, this should be tailored to you.

No one knows what you’re after better than you. And by simply setting some goals for your savings, it’ll help inspire some change in your spending habits.

Set both short and long-term goals. Short-term targets might be within one to five years away. They might include things like appliances, technology or furniture. But could be a little bigger in the form of travel or reducing debt.

Short-term goals will also help train your goal setting habits and reward you when you fulfil what you set out to achieve. Long-term goals might be reserved for larger targets like cars, a house deposit or investments.

Once you get going, you might realise that the saving ascent isn’t as steep as you first thought.


Important information: this article contains general information only. Your personal needs; objectives; and/or financial circumstances have not been considered. The information contained in this article is current as at the date of publication and is subject to change without notice. Before making a financial decision or acquiring any product, you should read the applicable pds; consider whether it is appropriate for your situation; and seek independent advice. Any examples shown are for illustrative purposes only and should not be relied upon.

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