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The little book of big savings

ideas.

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Money. You can’t live without it. But it sure seems to disappear fast, right? Now, thanks to this little wallet-sized pocket rocket of powerful savings tips, you’ll find some of our favourite ways to save.

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Written by savvy Westpac customers, it’s packed with smart savings tips and special secrets to get your savings spree well and truly started.

We’ve divided this little book up into 4 sections, covering Everyday Savings, Holiday Savings, Family Savings and Smart Savings.

Whatever kind of saving you’re into, we promise you’ll find something in here. So what are you waiting for? Dive in and make every cent count!

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Everyday Savings

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Keep an eye out for “Our two cents”

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“ Bowls of change lying around the house are full of lazy money. Every couple of months gather it up and deposit into your mortgage and suddenly your lazy money is hard at work!” Andrew, SA

“ Write down all the bills you get over the course of the year, then work out how much that equates to each pay you receive. If you put that amount aside each pay to cover it, when the

Customers tell us that their biggest surprises come after saving small amounts like $2 and $5. Remember a jar full of $2 coins will be worth a lot more than a jar full of 5c coins! And you honestly won’t notice the difference.

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big bills hit - you can cover them, and it doesn’t eat into your savings!” Melissa, VIC

“ Make two days a week “No Spend” days. No fancy lattes, no DVD rentals, no fast food or restaurant meals. You’ll be surprised how well you can actually live without spending a cent!” Paul, WA

Online banking means you can save even if you’re in your pyjamas! Westpac Online Banking is a quick, secure and simple place to enjoy a virtual piggy bank you can access anywhere, at any time, through the internet. Open 24/71 for banking, it makes saving easy. See westpac.com.au/discover for more details.

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“ Instead of grabbing a curry or a pizza after work, theme your nights in with different countries, dishes and even costumes - it’ll feel like your eating out, but it’s a lot more fun!” Ketherine, ACT

“ My favourite is the good old $2.00 coin jar! The rule is, you can’t ask for them, but if you receive them you can’t spend them. Last year I saved $2100.00 and bought airline tickets.” Anna, VIC

“ Replace the urge to buy with the urge to sell! Selling in an online auction or organising a garage sale can be way more fun then a shopping spree and the money you make can go towards that savings goal.” Brad, VIC

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“ Pump it up baby! Make sure your car tyres are kept at the right pressure and that there is nothing unnecessary in your boot - it will save you petrol - and that will save you money in the long run!” Meg, SA

Westpac Reward Saver actually rewards you with bonus interest when you make a deposit of at least $50 (or anything you like for Westpac Reward Saver Kids, Youth and Student), but no withdrawals in a month. It’s great for serious savers and situations where you won’t dip in to your money every month. And the rewards can be great! See westpac.com.au for more details.2

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“ I used to be beguiled by the ‘Sale’ signs ... save 30% ... save 50% ... 70% off. Now I keep walking and save 100% and it feels fabulous!” Diane, QLD

“ Set up a direct debit to move some money out of your current account into an internet savings account the day after your salary gets paid into your current account – that way, you don’t even notice you had that money.” Calista, WA

“ Make a pact with yourself to add 10% of the value on every non essential purchase you make to your savings. For example if you buy a $100 MP3 player put away $10. You will be amazed at how much you think about what you’re buying and how fast your savings grow.” Adam, NSW

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Family Savings

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“ Have two savings accounts. One your husband knows about, and one he doesn’t. I call mine the ‘shoe fund’.” Natalia, NSW

“ Get into the habit of swapping skills! I look after my friend’s child in return for her doing my hair (she’s a qualified hairdresser). This saves her costly child minding fees and me on salon prices. We keep it fair by working out a good balance.” Joanne, VIC

We live in one of the most beautiful countries in the world – so get out there and enjoy it. Take a walk in the national park, or have a picnic in your local one. And don’t forget to pack some nibbles, plenty of water, a hat and some sunscreen!

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“ Instead of taking the kids to a cafe, make muffins and have a picnic at the park.” Sarah, VIC

“ I offered my children 50% of all energy bill reductions quarterly as a saving plan. Now they conserve energy at every opportunity. Great for me, and them!” Kier, NSW

“ My favourite savings tip is really simple. Just DON’T take your husband or children with you to do the groceries.” Angela, NSW

“ Every week I give my children $5 to buy their lunch for one day at school. If they choose to make and take their own lunch I give them the $5 for their money box.” Diane, WA

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Think about exchanging skills or time – instead of money – between friends and family. Even small things like odd-jobs, babysitting, tools or other skills can be swapped for something that can save you money.

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“ Have a pantry challenge. On weekends have your own version of “Ready, Steady, Cook”. Put 8 items from your pantry, fridge or freezer into an environmental bag, and take it in turns in creating a family dinner. Great way to clear out the pantry of older items, saves on take-away and lots of family fun!!” Michelle, VIC

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Smart Savings

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“ Aim to save a certain amount of money and when you get to that figure, reward yourself with something special. I reward myself with a spa treatment after every $1000 in my savings account. I spend $100 on the treatment but still have $900 saved!” Manisha, NSW

Got a fair bit of money to squirrel away? Then why not think about a Term Deposit? Safe and secure, you get a fixed interest rate for a fixed term from 7 days to 60 months for deposits between $5,000 and $5,000,000. With no set up or management fees, they’re good for longer-term investing for big-ticket items. See westpac.com.au for more details.

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“ Calculate your utility bills for the past year and then aim to lower your usage and save the difference for something you really want. That way it is good for you and the environment!” Nicole, WA

“ Here in the Northern Territory the first thing a man does when the wife stops work to raise the kids is to start home-brewing. That way he can still enjoy a hard-earned coldie but now at just 20c a bottle!” Chris, NT

Set-up and maintain a spending journal. If you do this, you’ll be amazed when you discover what your spending habits are like. And you’ll be able to identify ‘wasted’ savings opportunities much quicker.

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“Plant a veggie garden! Growing your own veggies saves on grocery bills, plus there is nothing more satisfying than sitting down to a home cooked meal, plucked from your own garden!” Jodie, NSW

“If you live in a city and have a car park that you don’t use, consider renting it out for a monthly fee. The payment you receive will pay a good portion of your rent or mortgage repayment.” Nicole, VIC

When was the last time you visited your local library? These days, you can find magazines, CDs, DVDs and, of course, lots of the latest books. Best of all – you can take the whole family. It’s good brain food – and it’s free!

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Make your money work harder – the easy way. Westpac eSaver has a competitive interest rate that pays you interest monthly – compounding your savings power. Interest is calculated daily, paid monthly and you get unlimited access to funds via automated Telephone Banking and Online Banking to your other Westpac transaction or savings accounts. There’s no minimum balance either. See westpac.com.au for more details.

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“ When you finish paying off a regular payment towards a debt like a loan or credit card, keep the payment habit going! Transfer the funds (or a part of them at least) that you would normally pay into a high-interest savings account. You won’t even notice the money is gone until you see your savings start to grow!” Victoria, WA

“ Don’t aim for the stars with your goals. Start with small, achievable ones that keep you motivated. Give your budget a bit of flexibility so that you will be able to stick to it.” Jared, WA

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Holiday Savings

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“ Instead of renting expensive holiday homes for accommodation, try a home swap! My husband and I are big fans of house swapping to save on holiday accommodation, and we have literally saved thousands of dollars on holiday expenses in this manner.” Mayumi, NSW

Take your savings with you! Our Mobile Banking service means you can access your savings on the go through your iPhone™ or iPod Touch™. You can check and manage accounts, pay bills using BPAY® and even ‘pay anyone’ to send money to family and friends! See westpac.com.au/discover for more details.

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“ During school holidays we give ‘control’ of the family budget to our kids. All spending has to go through them and any excess that has been saved the kids get to keep! It’s harder than they think - as they still have to put away for annual bills etc. They get to see how much it actually costs, but it’s also a great way for them to learn responsibilities.” Michael, QLD

Teach children the value of money from an early age. You could match your children dollar for dollar when they deposit money in the bank, for example.

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Having a “Savings Buddy”, like a friend, partner or child can work wonders. When you share a savings milestone, you both should celebrate by doing something special.

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“ When saving for a holiday, I like to get my friends and family to save too. That way we can all influence and encourage each other, and we usually start a competition to see who can save the best. Because we’re all in the same boat, we often enjoy low-cost activities together.” Sarah, SA

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“ Make Christmas cookies as presents for family and friends. You’ll probably be cooking before Christmas anyway, so why not make extra of those little treats and give them to your family as gifts? The personal touch will be appreciated.” Victoria, NSW

“ $5 isn’t much, but if you can put $5 in a piggy bank each day for 365 days, you’ll end up with $1825. That money makes for a fantastic holiday and you won’t even think twice about saving your 5 bucks.” Viet, VIC

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Rainy Day?Don’t forget, the best time to start saving isn’t ‘some day’ – it’s right now. So dig around your pockets, bags and wallets for some gold coins, and pop them in a jar. Remember, saving is a habit. And it’s one that can really reap big rewards in a short space of time.

But most of all, saving should be fun! So pop this little book onto your fridge or into your wallet, and use it for inspiration whenever you need to.

Here at Westpac, we’re always happy to help you find ways to make more of your money. Just visit us online at www.westpac.com.au to find out more.

Happy Saving!

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Things you should know: This information doesn’t consider your circumstances. Before you make a decision to hold or acquire a product, you should read the terms and conditions available at westpac.com.au, by calling 132 032 or visiting a Westpac branch. Conditions and fees apply.1. Subject to system availablity.2. Bonus interest will be payable for each month in which, by the last business day of the month: • the account balance has remained above $0 throughout the month,• deposit of at least $50 (or of any amount for Kids, Youth or Student Reward Saver), and • you have made no withdrawals (other than transferring an amount to a Westpac Term Deposit through a Westpac branch. Transactions processed after the last business day of the month will count for your bonus interest qualification in the following month.iPhone™ or iPod Touch™ are trademarks of Apple Inc.® Registered to BPAY Pty Ltd 69 079 137 518Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714RBS010 (09/10) 204786

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