Imagine being able to save without doing anything?

Automating your savings is THE best thing you can do, as it allows you “set and forget” your money so you can save while focusing on the more important things in life.

It’s easy to save

The easiest way to automate your savings is through your internet or mobile banking.

Simply open an online savings account that will earn you a high rate of interest (you can do this in 30 seconds via our internet banking), and then set up a direct debit from your everyday account into your online savings account.

Save what you can

It can be as little as $10 per week, the idea is to take the money out of your everyday account before you notice it.

So make sure you set up your auto transfer that will transfer the money you want to save the day after you get paid. This way it will come out before you get a chance to spend it.

By paying yourself first this way, you will be on your way to creating a nice nest egg.

The key

Once you have set up your automatic transfer it’s time to hide your online savings account from your internet banking.

Don’t worry, you can still access if you need to, but by hiding it you will take away the temptation of raiding it as it will be out of sight, out of mind.

You can do this easily with your Queenslanders Credit Union GoSaver account by logging into your online banking (or using your mobile banking) and clicking on “Security Settings”. Then select the account you want to hide and click the “edit” button, and mark the check box labelled “Do not display the account”. Easy!

Increase your savings over time

And once you start saving more by being a little more careful where your money goes, you can increase the amount you are saving over time.

Summary

All you need to do is open an online savings account (if you don’t have one already), set up an automatic transfer, then hide your online savings account from your internet banking.

Have you automated your savings?