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Organise your accounts

You know where your money’s going. You know where you want to go. Now how do you organise your accounts to make it happen? Here’s a formula that makes it simple.


1. Bucket your money

The 50-30-20 budget - how it works

It’s not about how much you earn, but what you do with your money that counts. This easy 50-30-20 budget1 is a great place to start when you’re still working out how to organise your money in a way that works for you. Taking into account your circumstances split your monthly income into three buckets:

50-30-20 budget infographic with 50% needs, 30% wants and 20% savings

Remember, every bucket looks different for everyone (for you it may be 60-30-10 or 55-30-15). 

50% to your needs

These are necessary costs for you to live, like a roof over your head, food, electricity, transportation, credit card and loan repayments … basically, anything that can’t be missed and must be paid.

30% to your wants

These are the things we enjoy, but could go without if we had to. Things like new clothes, eating out, entertainment and social outings. Pop a portion of your income into this bucket so you don’t have to miss out on the good stuff.

20% to your goals

This bucket looks different to everybody. Whether you’re saving up for a house, paying off debt or want to have a nest egg for unexpected expenses, this one helps you achieve your goals . If you can’t manage 20%, anything you can save each pay is a great start.

So let’s see it in practice

Imagine your fortnightly pay was $1,000:


Half of it ($500) would stay in your designated account for all your needs, e.g. rent, bills, food and transport. 


$300 could be set aside for your wants, e.g. nice clothes, a trip, social expenses, or that upcoming weekend away with your 'special someone'. 


The final $200 is set aside for savings and not touched. This could be used for unexpected expenses, saving for a home loan or other large goals. 

Take this budget for a test drive…

See how your budget stacks up against the 50-30-20 budget1 buckets. Is there anything that you could stop, swap or change to make it better?

Pro tip

Your savings account can take different forms. It could be a term deposit or just a regular savings account. Do your research to find what’s best for you using the ANZ bank account finder2


2. How to automate your accounts

Your goals on autopilot

The less you have to think about saving money, the easier it is to do. So to help your savings grow even faster, turn on auto-pilot. 

You could set up direct debits on the first day of your pay cycle to automatically split your income between your accounts. When it happens automatically you don’t miss the money and sticking to your budget becomes a whole lot easier. 

If you’re an ANZ customer, you can quickly and easily set up automatic payments by logging in to ANZ goMoney or Internet Banking.

Just remember to do what's right for you. 


3. Earning interest

Patience is a virtue and, when it comes to your savings account, it can also be a money maker. When you’re working towards a goal, every little bit helps, so consider the following:

Shop around

Compare savings accounts to find one that suits your needs. Be sure to check the interest rates, account fees, any minimum monthly deposits needed and what’s involved in getting access to your money if you need to.

Review your account regularly

Interest rates do change, so it pays to review your savings account every year for a better deal.

Satisfy the terms and conditions of the account you choose

If your account pays bonus interest, make sure you always satisfy the criteria needed to earn the maximum interest rate. 

Now you’re feeling more organised, what’s next?

With your money doing the hard work for you, here are some other useful things to consider. What's up next?

How to:

Plan for your future 

Smart ways to grow and protect your wealth.

Know where you're at

Get your financial wellbeing score.

Plan your spend 

Yes, it’s a budget. But not as you know it.

Manage debt 

Learn how to tame your debt.

Set a savings goal

Set it, to get it.

Need extra help?

Impacted by COVID-19?

We’re here to help. See information about the available support options to help you through COVID-19.

ANZ is here to help during COVID-19


Financial hardship

Financial difficulty is more common than you think. Don’t go it alone.

Financial hardship help

A-Z Review 

Get the best out of your banking by talking with an ANZ Personal Banker. It’s a free one-one-one discussion in branch.

Book an A-Z Review online

Budgeting services

MoneyTalks provide confidential, non-judgemental free budgeting services throughout New Zealand.

MoneyTalks website  

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

1. Harvard bankruptcy expert Elizabeth Warren—U.S. Senator from Massachusetts and named by TIME magazine as one of the 100 Most Influential People in the World in 2010—coined the "50/30/20 rule" for spending and saving with her daughter, Amelia Warren Tyagi. They co-authored a book on it in 2005 called "All Your Worth: The Ultimate Lifetime Money Plan."

2. Eligibility criteria, terms, conditions and fees apply.