Those little changes can really add up over time and help you get closer to your financial goals.

The more you can save and invest now, the more financial freedom you’ll have down the track. It’s all about taking those first steps and letting your money work for you

 

1. Start saving now—every little bit counts

You might think that saving makes more sense when you’re older and earning more, but starting early is key. Even small, regular contributions to a savings account or investment fund can add up over time thanks to compound interest. If you can, set aside even a small portion of your income into savings before you spend on anything else. Automation makes this easy—set up automatic transfers, so you don’t have to think about it.

 

2. Create a budget (yes, really)

The word ‘budget’ can sound restrictive, but it’s actually your ticket to freedom. Knowing where your money goes helps you make better decisions about where to cut back. Use apps or spreadsheets to track your spending and identify areas where you could save. You’d be surprised how much you could free up by cutting back on eating out, cancelling unused subscriptions, or skipping that extra latte every morning.

 

3. Build an emergency fund

4. Avoid lifestyle creep

 

5. Cut out unnecessary subscriptions

6. Super fees: keeping costs in check for your benefit

7. Make extra contributions to your super (if you can)

8. Pay down high-interest debt fast

High-interest debt—like credit card balances—can seriously hold you back from saving. The longer it sticks around, the more money you end up paying. Getting it paid off sooner rather than later can free up more cash to put towards your savings or investments. Once it’s gone, you’ll be in a much better position to grow your wealth.

9. Set goals and automate your savings

Having clear financial goals can really help keep you motivated. Whether you’re saving for a holiday, a house deposit, or just a rainy day, having a target in mind helps. Once you’ve set your goals, automating your savings makes it easy–set up automatic transfers to a savings or investment account, and watch your money grow without even thinking about it.

See how small change could make a difference to your future

Use our Spare change calculator to see how cutting back on little things today can pay off tomorrow. Your future self will thank you!

 

This is general information only and doesn’t take into account your objectives, financial situation or needs. Before making a decision about CareSuper, you should consider if this information is right for you.

 

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Information correct as at 20 February 2025.