Fish n' Tips

Even if you can only save a few dollars a month, do it. Because small hooks have a better chance than no hooks. Try and do it as soon as you get paid, rather than at the end of the month. Those dollars will add up and start forming good savings habits. Before you know it, you’ll be reeling in the big one.

Every good skipper carries enough lifejackets for everyone onboard. An emergency fund might sound a bit dramatic, but it’ll save a whole lotta drama for you and your family if life gets a bit choppy. A good goal is to try and save for three months’ expenses, so you won’t be left floundering if something happens.

Grab a pen and paper to write down loans, interest payments and any bills you might have, so you can get on top of debt. Taking big bites out of one debt at a time, rather than having little nibbles at each, will help you feel satisfied faster.

The house, car, boat, or trip of your dreams starts with a good budget. Keep track of what the tide is taking in and out. Guesstimating won’t cut the mustard – setting aside a bit of time to actually go through your spending is the best way to ensure that no dream turns into the one that got away.

Keep your head above water by consolidating your finances. Having your money in one place means you won’t get jellyfish stung from interest on numerous accounts. Once you’re in calmer waters, send any debt repayments into a savings account.

Once you’ve got your head around the basics, investing is a great way to make more of your money. You don’t need to start big; even the smallest piece of bait, can catch a big fish. Clear any existing debts first so you’re not swimming backwards and paying more interest than you’re earning.

Give your kid a fish and they’ll eat for a day, teach your kids to fish and you’ll feed them for a lifetime! The same goes for money. Rather than just giving them fish and chips, show them the receipt so they can learn how much things cost. And if you’re planning to head away on a trip, it’s a great oppor-tuna-ty to show them how a good budget makes fun possible.

Work out how much you could afford to save and how a few small spending tweaks could make a big difference.

Set up a savings goal in internet or mobile banking and track your progress with Goal Tracker.

Work out your regular spending each month and how much you need to cover those bills each pay.