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Set a savings goal

Everyone’s dreams are different. And no matter what they are, Financial Wellbeings set savings goals to bring them to life. You too can be a savvy saver by boosting your savings and tracking your progress.

1. Set a savings goal

use a picture to visualize your goals in the ANZ app

Define your dream

A good savings strategy is less about what you’re saving towards, and more about how you approach it. And the best way to get a goal to work for you is to make it SMART. Make sure your target is:

Specific – There’s a big difference between a “holiday” and “a year-long extreme sports adventure”. What exactly do you want? And why? It’s easier to reach your goal if you know exactly what it is. 

Measurable – How much money do you need exactly? Set a defined dollar target so that you can measure your progress and see the finish line.

Achievable – Is your goal one you can actually achieve? Think about what the next few years hold for you – is there room in your income, expenses and other goals for a new car? Or will other things take preference? 

Realistic – Perhaps you could save $30,000 for a car in the next few years, but is a $700,000 Ferrari wishful thinking? Maybe. Maybe not. Aim high but be realistic.

Timely –  When do you want a new car by? Setting a specific time frame puts a bit of healthy pressure on you to consistently work towards your goal.


Download our SMART Dream Board worksheet (PDF 153kB) to make a visual plan of your goals and how to get there .

Be prepared for almost anything

According to the ANZ Financial Wellbeing survey (PDF 9.1MB), approximately 22% of people who got their ANZ Financial Wellbeing Score have no savings. We’ve all been caught out by an unexpected expense, but an emergency savings fund can cushion the blow. Start by aiming to get $1,000 into your emergency fund as soon as possible – even if that means selling stuff you no longer use – and then keep building from there alongside your other goals.

2. Crunch the numbers

Put your SMART goals through the ringer

Now that you know what you’re saving for, let’s calculate how to save that money and how long it’s really going to take. This saving calculator will put your goals to the test and define exactly what to set aside each month.

Nice. Now write that down.

On average, people with savings goals save 2 times faster than those without. And if you see it, you can save for it. Set a goal in the ANZ App so you can easily see how you’re tracking and keep your goal front and centre.

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Pro tip

If you use your phone for most purchases, try changing your lock screen to a picture of your savings goal as a reminder before you splurge. Almond latte... or trip to Fiji?

3. Boost your savings

Stop, swap and save

When it comes to growing your savings, the little things count. Find some small ways to save with our Savings Booster Calculatordisclaimer, whether that’s swapping to a cheaper brand or ditching something entirely. These teeny tiny micro-savings can have a huge impact on your goals over time. Can you come up with four swaps to start today?

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Cut down from 3 subscriptions per month

Cut down from 3 x subscriptions per month

To one subscription per month

To 1 x subscription per month

Means an extra treat per year

Means 1 x extra treat per year

Small change, big savings

It's amazing to see how much you could save just by changing a little habit.

For example, something as simple as cutting out an extra cup of coffee a day could make a huge impact to your goals this time next year!

This is an estimate only. It is provided for illustrative purposes only and is based on the accuracy of information provided. ANZ does not store the information provided in this calculator.

4. Track your goal

How’s that for progress?

It’s important to track your progress to your goal so that you can make adjustments when any unexpected spending occurs.

How you track your savings is up to you. In fact, most banks will get you to set, view and track your goals directly from your banking app. If you’re an ANZ customer with an eligible savings account, try the ‘set a goal’ feature within the ANZ App. It lets you name your goal, add a picture and monitor your progress.

Get the ANZ App



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You shoot, you score! Well done for setting a savings goal.

Now it’s time for something a little easier. Keep the wins coming by organising your accounts.

Progress bar shows the first 3 steps have been done and you are currently in the fourth step, there are 6 steps in total.

What's next?

Dollar sign and saving jar illustration

5. Organise your accounts

Let’s bring it all together with a strong budget.

Start organising

The information set out above is general in nature and has been prepared without taking into account your objectives, financial situation or needs.  By providing this information ANZ does not intend to provide any financial advice or other advice or recommendations.  You should seek independent financial, legal, tax and other relevant advice having regard to your particular circumstances.

The Savings Calculator is an approximate guide only. It is provided for illustrative purposes only and is based on the accuracy of the information you provided. It does not constitute a quote. ANZ does not store the information provided in this calculator.

Indicative total amount at the end of the period assumes no withdrawals, debits, fees or charges are processed from the account.

The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS and here for Android and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

ANZ App for Android is only available on Google Play™. ANZ App for iPhone is only available from the App Store.

Apple, Apple Pay, Apple Watch, Face ID, iPad, iPhone and Touch ID are trade marks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android, Google Play and the Google Play logo are trade marks of Google Inc.

This is an estimate only. It is provided for illustrative purposes only and is based on the accuracy of information provided. ANZ does not store the information provided in this calculator.