3 zero-effort money saving tricks everyone should know about

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’.

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.

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.

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.

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.