Introducing FebuSave

Welcome to February!

I know, hasn’t it come around fast?  I think that’s a sign of getting old, isn’t it?  Thinking that time is flying more and more quickly?  Maybe it’s because I’m having more and more fun in life.  Well, that’s my story and I’m sticking to it.

Today, as the first of February, I want to introduce you all to a wonderful initiative on behalf of ANZ Banking called FebuSave.  Febusave is a programme basically to get Australians saving, particularly Australian women, as according to the recent Women and Money Confidence Report that ANZ commissioned, 45% of Australian women have saved less than they had hoped in the last 12 months and 51% of women would last less than three months on their current savings if they lost their job and still had to pay their usual bills.

I am an official FebuSave blog ambassador.  Join me, and start saving.

As a woman who believes that we women have to take responsibility for our own financial security, these figures worry me. That’s a hairline of make or break to be dancing on, if it’s that touch and go financially for women in Australia. The more I thought about it, the more I realised I need to practice what I preach a little more. While I am financially secure, and don’t fall in that 51%, I do have to admit that I am one of the 45% of women have saved less than I had hoped in the past year. In fact, I am an atrocious saver.

I guess for me, it stems from the fact that even though I am financially secure and comfortable now, I came from a background of deep struggles financially, and there are times in my life where I’ve been so broke that I didn’t have enough money to feed myself, pay rent or utilities, or cover basic necessities like medical bills. I have in my lifetime lived on charity, both public and the kindness of friends. So nowdays, where I am financially comfortable and have a safety net in case of emergencies, I tend to see the rest of my income as entirely disposable, and therefore don’t save any of it.

These are not good habits to have, and I want to change that. So I figured I could take part in Febusave, teach myself some good financial habits, create a savings goal and routine to meet it, and see if there is any way I could comfortably be thrifty about my life so I have a little more from time to time to add to that savings. I don’t expect to be saving up tens of thousands of dollars every year, but if I can save $500 – $1000 annually to start with, it’s better than the absolute nothing that I’m really saving now.

I would also like to work towards a goal of saving for a digital SLR camera, so that’s something I can reward myself with once I get the saving habit well established.

So, what can you and I do to change our financial habits?

  1. Go to Febusave (either linked here or click on the button above or on the right of this page) and join up, make yourself a pledge to find ways to save money.
  2. Follow Febusave on Twitter and Facebook.
  3. Blog about Febusave yourself!
  4. Open a savings account. I don’t care what bank – just open one somewhere! Though I think ANZ might have special interest rates for Febusave.
  5. Put some money in it now. $20? $50? Whatever you can, just to kick it off.
  6. Think about how much you could afford to put in each week, and arrange a direct debit from either your payroll, or your everyday bank account, on a weekly basis.
  7. Find some ways that you can save money. Giving up something small, changing your habits, shopping around… anything you can think of to put a few extra dollars in your pocket each week.
  8. Talk to friends and family about ways to be thrifty and save. You’d be amazed at the fantastic ideas and discounts and savings other people know about.

I will be blogging more about Febusave, and my experiences with learning to save money throughout the month, and as I come across any really good tips I’ll share them with you.

For now, I’d love if you added in the comments below how you save money, or your goals if you want to start saving money.  Go for it!

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February 1, 2010. FebuSave, feminism, finance, goals, good habits, money, practice, saving, spending, women's issues.

2 Comments

  1. Foxie replied:

    What an awesome idea!!! I used to save as much as I could from every weeks pay by putting it in an account I could not access unless I physically went into the bank to withdraw it. This was great until I lost my job and had issues with my house plumbing. All that money was gone real fast. Now a few years later, (and a couple of jobs later), I put all of my loose change in a money box and it is only accessed if there is an emergency or I need to catch the bus and need change for that. Otherwise it stays in the box until it’s completely full, then it is banked. I also opened an account for my stepdaughter where I have her put any birthday, xmas, easter or chore money into. She can only access the money once a certain date has gone by; then she can only take out so much in one transaction and a new date is put on it immediately for when she can next get money out. I thought it was a good way for her to learn to save and to put money away. So far she has done extremely well with it. With prices constantly on the rise for necessities it is making it harder and harder to save, but that’s just the way it is and there’s nothing we can do to stop that, so I compare prices of things, and work out the cheapest option so that I do save some money especially with me only working part time now. I write my shopping list out and that’s all I buy. Plus I tend to cook in bulk so that I have a few days worth of food prepared already and it’s cost me less than a different meal every night. My aim is to save up enough money to take my family to the Gold Coast before my youngest starts school. 🙂

    • sleepydumpling replied:

      Awesome, I’m glad you’re working towards savings and budgeting! Every little bit helps.

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