Set a savings goal

A family skiing holiday? Your own home? Saving for a rainy day? Whatever your goals are, this step of the ANZ Financial Wellbeing Programme can show you how to get there.

1. How to set your savings goal

So, what are you saving for?

Now that you’ve got your budget sorted and know where you stand, you’re ready to start saving. But you need to be SMART about it – that is: 


What exactly do you want? And why do you want it? If it’s a two-week camping trip next summer to spend quality time with the family, is it roughing it in a tent or the luxury of a caravan?


Exactly how much money do you need for that caravan? Set a target you can measure your progress against as you’ll need to know where the finish line is.


Is your goal one you can actually reach? For example, could you save the $25,000 you’ll need for a caravan over the next 12 months?


Your goal also needs to be realistic given your current situation. Perhaps you could save $25,000 for a caravan in one year, but is it realistic when you’re paying a home loan? Maybe not.


You want your new caravan while the kids are still young enough to enjoy family holidays. Setting a specific time frame gives you the motivation to consistently work towards your goal.

Don't forget to grab a pen or open up a new note in your phone and jot down your SMART goal. Consider keeping it somewhere you’ll see it every day, like on the fridge or your bathroom mirror. It will help keep you on course to achieving your goal.

Give yourself a little cushion

Did you know, according to the 2018 ANZ Financial Wellbeing Survey, that approximately 23% of Kiwis have no savings? That can make unexpected expenses really challenging. So it’s a good idea to set yourself a SMART goal for an emergency cushion of say $1,000 alongside your other goals.

It doesn’t have to be a lot, it’s more about getting into the habit of saving, even if it’s just $5 each pay. 

2. Crunch the numbers

Let our Savings Calculator do the work for you. You know what you’re saving for. Now let’s calculate roughly how much you may need to save regularly to help reach it. 

You’re one step closer to your goals

Remember if you see it, you can save for it. So how about rethinking those generic account names and calling them something to remind you of your goals? Like ‘Surf’s Up Mahia’, ‘My home, my castle’ or ‘Hands off!’. If you’re an ANZ customer, it’s easy to do in ANZ goMoney or Internet Banking.

You’re on your way – have fun with it.

3. How to grow your savings

Stop, swap and save

Even saving a small amount regularly could have a big impact on your goals over time. Make a list of the things you can stop entirely, cut down on or swap for something less expensive and you’ll be amazed how much you can save. 

Can you think of four things you can cut out now? Do the calculation on your phone to see how much you could save. Put this cash towards your bigger goals and you could achieve them even sooner.


  • Cut back on magazines from four to one a month ~$9.99 each. Save ~$360 a year. 
  • Cancel that streaming subscription now you’ve binge watched everything ~$16 a month. Save ~$192 a year.

4. How to track your goal

Watch your progress

Keeping tabs on your progress can really help you stay motivated to achieve what you set out to do. And being focused on your progress can help get you back on track when unexpected spending detours pop up from time to time (which they inevitably will).

How you track your goal is up to you. Maybe it’s in a notebook, using a goal tracking app, or just checking your balance regularly online. But, as the saying goes, seeing is believing! 

Well done on setting your savings goal

Now it’s time to organise your accounts to help make it happen, so let’s explore how easy it is to do that next. What’s up next?

How to:

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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

This calculator provides an estimate only, using information you provide and current interest rates, which can change. The calculator doesn’t account for fees, taxes, other charges, or withdrawals. We don’t accept any responsibility if you suffer a loss using or relying on this calculator. We don’t store any information provided when using the calculator.