How to save for the future you want

2-minute read

Work out what you need to save for life’s milestones.   

There’s a conundrum facing a lot of younger savers. How do you save for a house deposit while also saving for your retirement? And how much do you need? The thing is, saving for one can also be saving for the other. The key is starting early and being consistent. For example, building up your KiwiSaver savings early means you could put some towards your first home purchase. 

But first things first, let’s see where you’re at: 

Crunch your numbers

KiwiSaver is an easy way to help you save for your future with a range of benefits that make it even more worthwhile. If you’re eligible you could get contributions from the Government and from your employer that go straight into your KiwiSaver account, plus it could also  help you buy your first home. Choosing the fund that best suits your needs is also important, as making the right choices now could make a big difference to your future. Our Risk Profile Tool and KiwiSaver Calculator can help. 

Get clued-up on your KiwiSaver account

Landed your first job? Congrats! Before you start spending, hear us out.  The sooner you look into your KiwiSaver account and how much you’re contributing, the better off you could be. We’ve already mentioned how you can leverage it to get onto the property ladder. But it’s also about saving for your future, you’ll thank yourself later!

Set up a savings account or two or three 

A dedicated savings account makes it much easier to stick to your savings plan. You might even want several. For example, name one account ‘First home’ and set-up an automatic payment to coincide with your pay cycle. Then, if there’s any remaining money, transfer that into another savings account named ‘New car’ or something else you want to save towards. 

Take advantage of  other products

If you’ve saved up a chunk of money (well done) and you don’t plan on touching it for a while (we’re impressed) then you could consider investing it in a term deposit, investment fund, or even your KiwiSaver account. 

With term deposits you’ll earn a higher rate of interest than in a standard savings account,  coupled with the assurance that the rate’s agreed upfront and locked in for the amount of time your money's invested for.  

Investing in KiwiSaver  or an investment fund generally have higher risks than term deposits, and the value of your investment can go up and down, but the potential for bigger returns on your money over the long-term is higher too.

It’s easy to feel overwhelmed by ‘grown-up’ stuff like saving for a home, or a retirement that seems a lifetime away. But as they say (whoever ‘they’ are), slow and steady wins the race. 

These other articles have more ideas that could also help get you over the line when it comes to your savings goals.

Important information

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see