Here at MyPayNow we love a challenge, and this winter, we’re challenging you to get ahead of your savings goal just in time to catch those summer rays! While you can do the obvious and commit to a routine of setting money aside each week, we had a few other ideas in mind to get your savings account lookin’ miiiighty fine 😎.

1. Dinner at home > expensive night out

Don’t get it twisted, we love a night out at a fancy restaurant with a fine bottle of red but doing this on the regular can seriously injure the bank. Have a crack at no dining out for a month (or two!) and opt to become a MasterChef at home instead! Not only will you make yourself a gourmet dinner that will last for lunch, but it might even get you through until dinner the next day! Bon appétit 🍽.

2. Dry July

Ever wanted to test your self-control and join in on dry July? Well, this is the year! It’s the perfect opportunity to save the dollars spent on alcohol while doing something for a good cause. Swap out the beer for a ginger beer and the vodka for a coca cola, you’ll be surprised to see how much money you save. To boost your savings up even more, transfer however much you would normally spend on alcohol into a locked savings account straight away, so there’s no chance of you giving into temptation.
 

3. Spend less

For one month only: no shopping and no credit cards! Let’s face it, you don’t need a new outfit for every event and now that you’re opting to stay home more in the cooler months, there’s no excuse to buy those new shoes 😉. If you feel like you might cave in temptation, freeze your credit cards so there’s no way you can buy something off the cuff! Instead, get on top of your debt repayments (if you have any) and after the essentials are paid...that coin is going straight to savings 🤑!

4. Out with the old

With all this time at home, there’s no better opportunity to clean out the closet. Pull everything out of your draws and cupboards and go with a rule such as…if you haven’t worn it in 12 months…it gets the flick (this is your time to be savage!). We recommend tracking down a booming second-hand market for you to sell your clothes at on the weekend. Not only is it a more sustainable option than the bin, but you’ll also walk away with some extra cash!

5. Use your rewards!

Have you ever taken a look into the rewards you get from your bank, private health, car insurance, weekly grocery shop and beyond? There’s plenty of great member perks out there that can be a serious game changer when it comes to necessities and indulgent purchases. Some of these can be fuel discounts, cheap movie tickets, discounts at retail partners and sometimes even cash back! Do some digging and find out what you might be eligible for 😉.