SmartyPig

We do love a bit of research here at SmartyPig so here's the latest to hit the inbox.  Apparently 55 per cent of Australian households rank travel as their number one motive for savings.  HOLD THE FRONT PAGE!!!!   Who would ever have imagined that more than half of us are dreaming of going on holiday? Just extraordinary.  Now, you're probably wondering why we're getting even the slightest bit excited about what appears to be the bleeding obvious (in fact, we thought the stats would actually be higher because seriously, isn't everyone dreaming of that next trip away from the everyday?). Well, what's really captured our attention here is that people actually have "savings motives".  And if that's not music to our ears, then we don't know what is. 

Of course, having the motivation to save is one thing; actually doing it is quite another.  The same research that told us about our number one saving motivator, also reveals that our household finances have deteriorated in 2010.  No surprises there. What with interest rate rises, the housing affordability crisis, and the ever-increasing costs of the basics of life - like food, petrol and electricity - it's been hard to find a spare dollar or two to put aside for anything.  (Just as an aside, did you know that 23 cents out of every dollar we actually spend apparently finds its way to our Woolworths or Coles? That's a lot of groceries! Take a look at the ABC's Hungry Beast to find out more.  It's fascinating stuff but alas, we do digress.)  So the fact that people actually have a motive to save is in itself, pretty encouraging.  And if there's one lesson we probably all learned during the recent GFC (that's Global Financial Crisis to the uninitiated), it's that cash really is king.  There's nothing quite like having money in the bank (or wherever you may choose to have it!) for the all important rainy day, however that may manifest in your life.  

So once you've started to squirrel away a few coins, the real challenge comes in maintaining momentum and the all-important motivation to keep going.  (Just think back to the ghosts of 'New Year Resolutions' Past' if you need convincing. Gym membership anyone?)  Anyway, you know the best intentions will definitely get you into the starter's blocks and may even have you off and racing, but actually making it to the finish line? Now that's probably going to take some serious effort and a whole lot of willpower.   But it's like a bloke called Maslow worked out back in the 1940s in his "Theory of Human Motivation": we all have needs which motivate our actions, some more important and powerful than others.  So your savings motivator could be a house to call your own and provide security and safety for you and your family.  Maybe it's a wedding to celebrate the love of your life.  Or simply a holiday to restore health, vitality and, ok, even your sanity.  Regardless of your end game, one thing becomes clear - learn how to tap into your savings motivator and it may just keep you going all the way until you really do reach that great big, beautiful goal.  We feel motivated already.

'Til next time

Team SmartyPig