How to ‘micro-save’ with Credit Union SA

It’s not always easy to find room in your budget to save at the end of the month. 

With rising cost of living pressures and rising interest rates, saving money is harder than ever – but ‘micro-saving’ might help you. Micro-saving is just as it sounds – saving small amounts regularly with the aim to get the ball rolling and build your savings over of time.

It’s one of the most realistic ways to save, especially if you find it difficult. By building savings habits into your day-to-day, over time you’ll see smaller amounts begin to add up and the cents eventually turning into dollars.

Two ways to start micro-saving

Here are some ways to start micro-saving through Credit Union SA:

Round up your transactions and save the spare change

Whenever you buy something with Credit Union SA, you can choose to round up your purchases and put the spare change into your transaction or savings account.

Get started today! From the top-right hand corner menu in our Mobile Banking App, select ‘Accounts > Round -ups > Set up round up’ and choose which of your accounts you would like your spare change to go into. It’s that simple!

Use Credit Union SA to round up your purchases and set the spare change aside – no need for a coin jar anymore!

Download our Mobile Banking App

Save $1 every day

You can schedule payments to move money out of your main Credit Union SA account and into your Credit Union SA savings accounts regularly.

So, you could try and save $1 every day (way less than the cost of a morning coffee!). Or set aside $10 at the start of every week if you can afford it.

Choose an amount and frequency that works for you, then set up payments to move the money into your savings account automatically.

1. Tap on 'Transfer' at the bottom of the home screen and choose 'Between accounts'
2. Select the account you would like to transfer money into, then enter the amount and description (optional)
3. Select the recurring option
4. Input the frequency, duration and click the small calendar icon to enter the start date
5. Tap 'Continue' and review the transaction details
6. Complete the transfer

If you need to turn off your recurring transfer at any point, click on ‘Pay’ in the top-right hand corner menu, select ‘Scheduled payments’, then find your payment in the list. Select the ‘…’ ellipses on the right to edit or delete it and follow the prompts.

Download the Credit Union SA Mobile Banking App to try these techniques for saving little and often today!

Worried you’ve left it too late to start saving? Read our post on how to save and budget.