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3 zero-effort money saving tricks everyone should know about

Stretched for time or not the most proactive person when it comes to managing your money? Well, look no further. We have 3 zero-effort money tricks that can help you save up extra cash without even thinking about it. It’s genius, really.

No matter if you’re incredibly busy, hate spreadsheets or you’ve just entered your lazy era no judgement here, saving money doesn’t have to be a chore. In fact, we have three oh-so simple ways to save that, once set up, you won’t have to think about it at all. We’re calling it zero-effort saving. Which is basically code for ‘how to save money when you really can’t be bothered’.

1. Round Up everyday spending

Want to save every time you spend? Let us introduce you to Round Up. This is our foolproof way to make sure you save money each month by simply rounding up your spending to the nearest $1, $2 or $5. 

It’s essentially a digital change jar. For example, say you spent $5.60 on a coffee. If you set Round Up to round up your spending to the nearest dollar, you’d send 40 cents to your Goal Account aka the account you tell us that you want to save into. If you have a loan with Wisr, you can also use your savings to chip away at your loan and pay it off quicker. 

Worried about overspending? You put a cap on your round ups so that once you’ve reached your monthly savings goal, let’s say $100 a month, it’ll pause Round Up for the rest of the month. 

Who’s it best for?

Want to save money but struggle to curb your spending habits? Then Round Up is perfect for you. Instead of feeling guilty every time you buy a coffee or new clothes, you can give yourself some kudos that you saved a little extra too.

2. Pay with cash

We know this is pretty old-school, but physically handing over money can help you stop making those impulse purchases and keep you on track with your weekly budget. 

Once all your bills have been taken care of, e.g. your rent or mortgage payment, electricity bill, mobile phone contract etc., you simply withdraw the amount you want to spend per week on food and little luxuries. Just remember to leave an amount in your account to save.

By separating your spending money from the money tucked away in your account, over time you should have a good amount set aside to help cover the cost of any unexpected expenses.

Who’s it best for?

This method can be pretty handy if you’re on a tight budget or if you struggle to avoid temptation. Separating your cash for spending from the money you want to keep back for emergencies can make you more aware of how much you’re spending and extra motivated to stick to your budget. 
Want to dig deeper? Check out our Pay With Cash money hack lesson on Wisr App.

3. Set up a direct debit

Setting up a direct debit from your spending account to a savings account is the ultimate effortless way to save. Simply choose how much you want to set aside, set the frequency i.e. weekly, fortnightly or monthly and just let it tick away in the background. It can be a good idea to align your deposit frequency with your paydays so you know you’ll always have enough money in your account to transfer across. 

Who’s it best for?

If you earn a regular income and want to proactively start saving, using a direct debit can be a great way to start. This method is best for people who don’t think they’ll remember to regularly set money aside but have the means to do so.

Pro Tip

Setting a goal either an amount or thing you’re saving for inspires more motivation. Knowing you’re working towards something specific often means that you’re less likely to dip into your savings, unless you really need to.

So, there you have it. Zero-effort saving, big future rewards. Now, all you need to do is pick the method that’s right for you.

Did you find this content helpful?

Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.

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