Save Money in 2026: Expert Tips for Your Financial Goals

Organizing personal finances ranks high on many people’s New Year’s resolutions for 2026. In a recent five-part series, financial correspondent Susan Edmunds provides essential strategies to help individuals save money effectively. Following the festive season, when spending often exceeds budgets, this guidance is timely for anyone eager to improve their financial situation in the new year.

Practical Steps for Effective Saving

One suggestion comes from Tom Hartmann, a spokesperson for Sorted’s personal finance program. He advises individuals to adopt a mindset inspired by home organization expert Marie Kondo. Kondo emphasizes keeping only those items that “spark joy,” a principle Hartmann believes can be applied to spending habits. He encourages people to assess their subscriptions and expenses by rating them from one to five. Cutting back on lower-rated items allows for a more meaningful allocation of funds. “For example, if Spotify brings you joy, keep it, but consider ditching a service that scores a one,” Hartmann explains.

Another effective strategy is to match spending with saving. This approach requires individuals to invest or save an equal amount to what they intend to spend. For instance, if someone wants to purchase a pair of jeans for $200, they should also set aside $200 into savings or investments. This method not only curbs impulsive spending but also builds savings simultaneously.

Automating Savings for Success

Financial coach Liz Koh stresses the importance of “paying yourself first.” Rather than waiting until the end of the month to save leftover funds, she recommends setting up automatic transfers to a separate savings account as soon as paychecks are received. “Consider using an account at a different bank that is not linked to your main account. You’ll be surprised how quickly your savings can accumulate,” she notes. This principle underlies the success of programs like KiwiSaver, where funds are automatically allocated, making saving effortless.

Starting small can also yield significant results, according to Emma Heaps, financial wellbeing programme manager at Westpac. “If saving regularly seems daunting, begin with modest amounts—just a dollar a day can establish a habit that grows over time,” she advises. Committing to this practice for around 90 days can help solidify the habit, leading to increased contributions as comfort with saving grows.

For those who can afford to set aside funds for a longer period, Louisa Powell, general manager of everyday banking at BNZ, suggests considering a term deposit. While access to these funds is limited, they typically offer higher interest rates than standard savings accounts. “Opt for compounding interest on your term deposit to maximize earnings,” she adds.

Creative Ways to Boost Savings

Utilizing banking features that round up transactions can also bolster savings. Many banks offer a rounding-up option, where purchases are rounded to the nearest dollar and the difference is saved. For example, a $5.50 coffee purchase would round up to $6, with $0.50 automatically deposited into savings. This method may seem minor, but over time, these small amounts can lead to significant savings.

For those seeking a challenge, a “no spend” period—be it a month, week, or even just one day a week—can help curb unnecessary expenditures. This approach necessitates planning to ensure that spending does not shift to other times. Online communities and support groups can provide motivation and share strategies for navigating these challenges.

Tracking progress and celebrating milestones is essential for maintaining motivation. Recognizing achievements, no matter how small, can help individuals stay engaged in their financial journey.

As 2026 approaches, these strategies offer valuable insights for anyone looking to enhance their financial health. Sign up for the “Money with Susan Edmunds” newsletter to receive weekly updates focused on making, spending, and investing money effectively.