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How many times do you say, “nah I probably shouldn’t,” when you’re trying to save? You might say it when someone wants to go for a coffee, get some lunch, or head for after work drinks, and let’s face it – it can be a bit discouraging. Saving doesn’t have to get in the way of your lifestyle. There’s a way to save while you spend and our next Saver knows all about it.
In our last edition of Meet the Savers, we spoke to Jen, who set up recurring payments to send a portion of her pay directly to her savings. Now it’s time to meet Mark. He uses ING Everyday Round Up to round up card purchases to the nearest dollar and send the extra amount straight to his savings.
Now he knows that as he spends and goes about his day, he’s putting money in the bank. It’s easy to put it in place if this sounds like it would work for you.
Step 1:
Log in to online banking. Everyday Round Up only works with an Orange Everyday account, so if you need to set one up first visit here.
Step 2:
Click on “Settings,” then “Account,” followed by “Everyday Round Up.”
Step 3:
Select the Orange Everyday account you’d like the round up to come from and the Savings Maximiser you’d like to send the extra money to.
Step 4:
Decide how much you want to round up to. You can choose either $1 or $5. No pressure here – you can change this at any time in online banking or the mobile app.
Step 5:
Once that’s set up you can save while you spend! Let’s say Mark buys a $10.50 burger for lunch on his card. If Mark selects to round up to the nearest dollar, his Everyday Round Up will round the purchase up to $11 and send the $0.50 straight from his Orange Everyday account to his savings account.
The round up amount will not be debited if it would take the balance of your Orange Everyday below $20, so there’s not need to worry about going over your budget.
There you have it. A simple way to set and forget your savings. For more information on the features of ING Everyday Round Up, read on here.
Everyday Round Up feature applies to card purchases only. Customers must opt in and select to round up to the nearest $1 or $5. Eligible funds are transferred from the customer’s Orange Everyday to their Savings Maximiser account. A round up will not be debited if doing so would reduce the Orange Everyday balance below $20. Full details at ing.com.au.
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