Sub category: Teens
13 August 2018

How to get your money working harder for you

Between pocket money from your parents and income from your after school job, it feels good to have some moolah coming in. The next step? Making sure your money is working as hard as it can to help you reach your goals, whether it’s a car or a big overseas trip when you finish school.

Here are a few ways to manage your money so you get to your goals faster.

Find the right account for you

The first thing to do is to make sure you have the best everyday transaction account. An account with the right benefits can make all the difference in the long run. You don’t have to choose the bank your parents are with – have a good look around and find an account that suits you and your lifestyle.

For instance, ING’s Orange Everyday Youth helps you:

  • Save on monthly account fees
  • Avoid ING international transaction fees and global ATM fees when you’re travelling
  • Avoid ING international transaction fees when you’re shopping online.

While these aren’t big savings, these day-to-day fees all add up over time.

Split your spending and your saving

It’s definitely exciting when you have money coming your way, but try not to get too spend-happy right away. You can boost your savings by gaining access to the higher variable interest rate on your Saving Maximiser balance when you have an Orange Everyday Youth account and a Savings Maximiser. This means that there will be a little extra money coming into your Savings Maximiser account from us.

For instance, if you have an ING Orange Everyday Youth, you can use this as your main account, and then send 20% of your pay each week into your Savings Maximiser which is linked to your everyday account. Let’s say you make $92.70 per week at your job. On payday, you’d transfer $18.50 to your savings account and leave the rest for your transactional account.

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It’s also good to get in the habit of doing the same with pocket money from your folks.

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Gamify your savings

There’s some great tech that can help you make saving more fun. For instance, you can take advantage of IFTTT (If This Then That), which transfers money from your Orange Everyday Youth account to your Savings Maximiser every time a trigger event that you’ve chosen occurs.

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For example, if you’re a bit of an Insta fiend, you can set up IFTTT so money from your Orange Everyday Youth goes into your Savings Maximiser every time you post on Instagram.

Don’t be afraid to get advice

Nobody started out as a finance expert. Don’t be afraid to seek out advice when you need it.

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Take advantage of online resources to see how you’re tracking and how you can improve. Check your bank statements regularly to see where your money is going. ING make it easy to do this by having all your statements available on the ING app.

Saving for your goals takes practice, but with a few simple strategies, you can save more and afford what you want sooner.

Want a bank account tailored for you that gets you to your goals faster?
Read on to find out more.


For the curious:

Orange Everyday Youth is an account for individuals who are 15 to 17 years old. Joint accounts and overdrafts are not available for Orange Everyday Youth.

All Orange Everyday Youth accounts will receive the Global ATM Rebate Offer and the International Transaction Fee Rebate Offer. This means that:

  • for ATMs in Australia – any ATM fee charged by the ATM operator is paid back to you immediately following the transaction,
  • for ATMs outside Australia:
    • ING will pay back the International ATM withdrawal fee of $2.50 immediately after it is charged, and
    • ING will pay back any ATM fee charged by the ATM operator when your transaction is finalised (settled).

While a transaction is pending, the amount the ATM operator charges in fees will be deducted from your available balance and will be paid back to you after the transaction is finalised (settled). ATM transactions made outside Australia can take up to 5 business days to finalise, so that means it can take up to 5 business days for us to pay back overseas ATM fees to you, and

  • for ING international transaction fees on card purchases – ING will pay back the International Transaction fee of 2.5% of the amount of the international transaction immediately after it is charged. The person you’re buying things from may charge you a separate fee for their services (which we will not pay back to you under this offer).

This offer may be changed or withdrawn at any time at ING’s sole discretion.

If you have a complaint, please call us on 133 464 at any time as we have procedures in place to help resolve any issues you may have.

Savings Maximiser: High interest rate comprised of standard variable rate and additional variable rate. Additional variable rate can only apply when you also have an Orange Everyday Youth. The additional variable rate (that is added to the Savings Maximiser standard variable rate) applies on one Savings Maximiser per customer on balances up to $100,000. Any amounts above $100,000 are subject to the Savings Maximiser standard variable rate applicable at the time. If you do not have an Orange Everyday Youth, the standard variable rate applies. If you have multiple Savings Maximiser accounts, visit online banking or call us on 133 464 to check or change which Savings Maximiser account receives the additional variable rate (if eligible). ING can change or withdraw the additional variable rate at any time. The additional variable rate is not payable in conjunction with any other promotional rate. This offer may be changed or withdrawn at any time at ING’s sole discretion.

‘If This Then That’ (IFTTT) is an optional tool that enables you to automatically transfer amounts that meet the criteria you specify from your Orange Everyday bank account to your nominated Savings Maximiser account. IFTTT is made available by IFTTT Inc. You’ll need to agree to the IFTTT Terms and Conditions for ING customers when setting up your IFTTT account. For more information on IFTTT, visit

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms

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