SmartyPig

I’m going to begin with a cliché:  ‘Webster’s Dictionary defines saving as…’

Apologies – you are going to have to look up the definition yourself, because my friendly-resident lawyer has advised me that I cannot insert a direct quote from Webster’s Dictionary into my blog.  But I’m confident that if you Google the definition it will suggest alternate descriptions such as; evade spending, reduce consumption, cutbacks etc.

They sound logical.  However, I thought a few descriptive words were missing, so after a quick survey around my office, I’ve found that savings means more to most people.  Alternate descriptions suggested were: responsible, difficult, the means to a greater goal, a constant source of guilt, something to be proud of, irritating and a little boring (the last is my contribution, in case you were wondering).

So why do it?

I can only speak from personal experience (and please respond with your perspective, because I need all the saving inspiration I can get) but I save for two reasons: 90% ‘means to a greater goal’ – I want a house, I love to travel, I want to be able to retire before I am too old to enjoy my free time and I want the assurance that should something go wrong, I won’t have to worry about money too.  

The remaining 10% is guilt – every time I swipe my card at the ATM I can hear my mother’s voice: “when I was your age I had to save for 3 weeks to buy my favourite record”, yet I can make a $30 purchase decision in zero to 30 seconds.  And that is my guilt right there.  I should be more careful with my money, I should value it more, but I don’t.

Unfortunately, to add complexity to my saving mission -I also want “stuff” – music, DVDs, clothes, shoes and a big night out with friends.  All of these things cost money, and regrettably (for me) money isn’t an endless resource.

Now we arrive at why I am talking about it.  I’m 26, smack in the middle of Gen Y – the generation of Australians who are too often accused of having a ‘spend now, pay later’ attitude to life – and I manage SmartyPig on behalf of ANZ, so I have a voice to generate some good PR for Gen Ys.   I will admit upfront that I am not an expert saver (but those who can’t do, teach right?), but what I can do is share my journey of ‘the reluctant saver’ becoming ‘the successful saver’ (fingers and toes crossed please!) and share the tips and tricks I learn along the way.  I’ll also reveal a bit of what is happening in our world of SmartyPig and bring you a different perspective on finance articles from around the world.

So, if you can stick with me throughout this journey, I’ll try and bring a little bit of humour and fun to the world of finance and SmartyPig.

Mac aka the reluctant saver

The SmartyPig account is a deposit product offered by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. ANZ is trading as “SmartyPig”. “SmartyPig is a Trademark of SmartyPig LLC, which is licensed to ANZ.

Consider if this product is appropriate for you.  ANZ recommends you read the Terms and Conditions and Financial Service Guide before acquiring this product.