Easy ways to save for a home deposit without even noticing

Mother & daughter baking in the kitchen | buildtoday
Trying to save for a home deposit?

These easy tips can help you put money away without even realising you’re doing it.

Saving up for your first home deposit is a big hurdle. If you’re finding it more difficult than you expected, don’t worry. Many Aussies are in the same boat. Pulling together a full 20% takes a lot of fiscal responsibility. Of course, a few easy tips and tricks can help along the way as well.

Here are our top tips for saving money without even noticing — just remember that every little bit helps!

Set a goal and be consistent 

It may go without saying, but setting savings goals is one of the best ways to hold yourself accountable. It sets a clear target that you can work toward, which can work wonders for your motivation. Along with setting your plan, make sure you’re consistent with squirrelling away your money.

Review your bank statements

This is another top tip that may seem obvious but can end up paying off big time. Literally. Go through your bank statements for a couple of reasons:

  • Look at how you’re spending your money and how you might be able to cut back.
  • Look for any subscriptions set up to automatically come out of your account that you can cancel. 

Round up your purchases

Did you know that some banks use tech to round up your purchases for you? This may sound like the opposite of saving money, but hear us out! 

When you use your bank or credit card to make a purchase, your bank will round your purchase up to the nearest dollar, putting the difference into your savings account. You might be surprised by how quickly your savings will add up. 

Save your change

A tried and true method that is favoured by all ages, tossing your change and small notes into a jar at home is a fantastic way to save money. If you want to up the ante, dedicate yourself to saving every $5 you come across. It won’t take long for you to reap the rewards of your change jar. 

Brush up on your cooking skills

Another tried and true money saver — learn how to cook. The occasional takeaway meal is a fun splurge that is a great way to treat yourself; however, going out two, three times per week can really start to add up. Cut down the temptation by learning how to create your favourite takeaway dishes at home. 

Buy and cook in bulk

Speaking of cooking at home, you can also save by buying in bulk and practising meal prep. You’ll get more bang for your grocery buck and you can store meals in your freezer for quick go-tos when you don’t feel like cooking. 

Have a yard sale

Have a few things lying around the house that you’re not using anymore? How about a closet full of clothes that you haven’t worn in months? Still, in perfectly good condition, it’s worth selling these items and putting the proceeds in your savings account. 

Review your rates 

We all have bills and generally, we don’t really think about them much other than when we have to fork out the cash to pay them. It’s worth paying a little more attention when you’re trying to save. 

Spend the weekend going through all of your bills and contacting your suppliers to negotiate lower rates. From credit cards and insurance to utilities and car payments, most companies will be willing to come to the table. 


A useful way to save is by removing temptation altogether. Unsubscribe from all of the e-newsletters and digital marketing that may tempt you to spend. While it can be difficult to say goodbye to monthly updates from your favourite restaurants or clothing shops, your wallet will thank you!

Watch your alcohol intake

This one may be tough for some as a few drinky-poos after work on a Friday is a great way to blow off some steam. It’s murder on your savings though. As with anything, the key is moderation. Stick to one drink when you go out, or maybe only go out every couple of weeks. You’ll definitely start to see a boost in the money you’re saving. 

And don’t forget that even with a low deposit, you still may be able to jump into the property market. Feel free to contact one of our helpful consultants to discuss your options. 

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