5 goals ANZ customers are saving for

Estimated reading time
 5 min

Learn all about

• Top 5 savings goals for Aussies
• How to stay on track with your goals

Setting goals is a huge part of good financial wellbeing.

It can help you develop healthy money habits while giving you something to work towards. So what are everyday Aussies saving for these days?

Let’s dive in to find out.

What are Aussies saving for?

When we say ‘savings goals’, things like a holiday or house might spring to mind. And that’s usually the case! But with the rollercoaster that is the economy (think increased cost of living, inflation and interest rates), lots of Aussies have had to reshape their goals. 

Here are the top five savings categories that ANZ customers focused on in the past year:^disclaimer

1. Bills

Cost of living is impacting the way we manage our finances, and many people are realigning their goals because of this. In fact, lots of Aussies are putting aside money specifically for bills, given the current economic climate. 

  Hot tip:

Change your phone, internet or utilities provider for a cheaper deal. Or see if there are any government rebates or schemes you can apply for to help cut costs on some essentials. 

2. Business

In Australia, over 960,000 Australians are multiple-job holders, so it makes sense that they would save to get their business off the ground.^disclaimerThis might be to cover the initial and ongoing costs, such as developing the product, setting up an online store, and registering a business name.

  Hot tip:

If you want to save some cash on your side hustle, look into free online tools that can do the task for you (such as or free design programs). You can also sign up to a free trial of certain programs to get what you want during the trial period before cancelling.

3. Car

Did you know that around 20.1 million Australians own a registered car?^disclaimerWhether it’s a new sedan or second-hand ute, buying a car can give us freedom to go where we want, when we want. And it looked like many Aussies wanted to invest in a sleek set of new wheels for road trips, work commutes, Saturday sports and everything in between.

  Hot tip:

Want to buy a new car? Then think about what you really want and avoid getting sucked into paying for extras you don’t need. You can put that extra money towards your other savings goals.

4. Education

With nearly 3.2 million people aged 15 to 74 studying, learning was top of the to-do list.^disclaimerThis category can cover things like online courses to upskill, paying off HECS, or going back to uni or TAFE for extra qualifications to change careers.

  Hot tip:

If your budget allows for it, make voluntary HECS payments to actively work towards paying it off so there’s one less debt for you to worry about. Paying off your HECS can help you focus on achieving other savings goal you might have.

5. Gifts

Buying gifts for loved ones can quickly add up, especially in this economy. Setting a savings goal for your Christmas and birthday gift purchases (with a buffer for unexpected celebrations) can help you buy gifts for your loved ones without straining your finances.

  Hot tip:

Plan your gifts and shop sales, like Black Friday and EOFY sales, to get ahead with your gift-buying while saving some big bucks too. Or you can go the homemade route and make something thoughtful for your loved ones.

  Brain hack

Whether it’s buying a pastel-coloured coffee machine or a new pair of sneakers, we’ve all had that urge to purchase something that makes us feel good in the moment, even though it doesn’t help us achieve our goals.

This is what we call hyperbolic discounting, which is our tendency to prioritise an instant reward over future ones. 

Here’s how you can overcome this urge to splurge and keep your eyes on the prize:

• Think about and visualise your financial goals and how your decisions now will affect future-you. 
• Chat to someone you trust (like a friend or family member) about your goals so they can help you stay on track.
• Make a budget and stick to it so that you can plan your wants around your needs and goals.

You could use these trends to inspire your own savings goals – be it a hot new set of skills from an online course or something bigger like a home deposit. There’s no time like the present to start thinking about (and saving for) your goals!