Saving for a rainy day
Saving for your emergency fund
Spend less than you earn is the first money principle. The second is build a rainy day fund. Don’t risk dipping into your investments when life throws unexpected costs your way.
Financial wellbeing matters
People who have a budget and savings tend to be happier*. Disciplined saving is a powerful behaviour to nurture and an excellent habit for when you do start to invest.*Improving the Financial Wellbeing of Australians
How much?Between 3 – 6 months living expenses saved in your rainy day fund is the general advice. This means you won’t need to borrow money or dip into your investments.
Goal set and automateThe best goals are achievable and specific. Set up an automatic transfer from your bank account to your savings account each payday. This is a great habit for when you start investing.
Save first, then investDipping into your investments could result in you unnecessarily paying capital gains tax and potentially missing out on future earnings when you sell.
A budget and a bucket?
There are many ways to manage your money, you just need to find one that works for you.
BudgetA budget will help you meet your financial commitments and enjoy life more. A clear idea of your living expenses and how much you can save and spend are the first steps in your journey towards investing.
Bucket theoryMost banks allow multiple accounts (ie buckets). One for bills, food, fun, saving and investing etc. Each payday you send a predetermined amount to the buckets and live within those means.
Ready to start investing? Here are some options:
You’ve saved your rainy day fund and you’ve got money to invest. This is where you can get started:
BootcampBuild your investing confidence with our beginner investors course. You’ll learn investing fundamentals and how to form better money habits.Learn more
FundlaterFundlater lets you invest in a $10,000 portfolio with $4,000. We’ll loan you $6,000 (no margin calls) and you pay us back over 20 months.Find out more
Professional managed portfoliosInvestSMART’s range of investment portfolios selection from conservative growth to high growth. We have a portfolio to suit your goals.Learn more
Wealth creation calculator
Do you have a savings or investment goal? Play with our calculator to discover how much and how often you need to invest to reach your target number.
InvestSMART portfolio planner
Interested in investing? We can help.
Simply tell us how long you plan to invest, your goals, savings and other investments. We’ll recommend a suitable investment portfolio for you.