How to Start Saving Money When There’s Nothing Left
Have you ever looked at your bank account and thought:
“I know I should be saving, but there’s just nothing left.”
You're definitely not the only one.
When we hear about saving money, we're often shown big goals — a house deposit, a $10,000 emergency fund, an overseas holiday or a certain percentage of our income.
But if money already feels tight, those numbers can make saving feel impossible before you've even started.
The good news is that saving doesn't have to start big.
Sometimes the most valuable thing you can do is simply start.
1. Start with an amount that feels almost too easy
Forget about what you should be saving for a moment.
Could you save $5 a week?
That's $260 over 52 weeks.
It might not fund a house deposit, but that's not really the point.
You've created a regular savings habit — and once $5 feels comfortable, perhaps it becomes $10, then $15.
Small amounts still count.
2. Save money you weren't planning on having
Not every contribution to savings needs to come directly from your pay.
Think about the little amounts of money that come your way throughout the year:
refunds
money from selling unused items
container recycling refunds
cashback
unexpected credits
gifts or bonuses
Rather than letting these amounts disappear into everyday spending, consider putting some or all of them towards a savings goal.
One of my own favourite habits is saving the money I receive from recycling eligible containers.
It's good for the environment, the small amounts add up, and it's also a fantastic way to introduce kids to the concept of earning and saving.
3. Try the 10% coffee challenge
This isn't about telling you to stop buying coffee!
Enjoying your money is important too.
Instead, look at how many takeaway coffees you bought last month.
If you bought 20, could you buy 18 this month and put the cost of the other two into savings?
You haven't completely changed your lifestyle. You've simply made a small adjustment.
You can apply the same idea to takeaway meals, entertainment or other discretionary spending.
The goal isn't deprivation. It's awareness.
4. Round it up
Another simple strategy is to round your spending up to the nearest dollar and save the difference.
If something costs $4.60, pretend it cost $5 and put the extra 40 cents towards savings.
Some bank accounts offer automatic round-up features, or you can create your own version by transferring a small amount into savings regularly.
You probably won't notice the cents individually, but over time they can accumulate.
5. Increase your savings by $1
Here's another challenge.
Every payday, increase the amount you're saving by just $1.
If you're currently transferring $10, make it $11.
Later, try $12.
The idea isn't to put pressure on yourself to continually increase it beyond what you can afford. It's simply to show yourself that gradually increasing your savings can feel much more manageable than suddenly trying to find an extra $100.
6. Give your savings a name
Saving "just because I should" isn't particularly exciting.
Emergency Fund
Weekend Away
First Car
Christmas
House Deposit
Freedom Fund
When your savings have a purpose, every contribution feels like you're moving towards something rather than simply moving money between accounts.
And don't underestimate an emergency fund.
Even a small buffer can be useful when an unexpected expense appears.
7. Look at your spending without judging yourself
Before deciding there's nothing available to save, spend a week or two simply observing where your money goes.
Don't try to change anything yet.
You might discover subscriptions you've forgotten about, convenience purchases that don't really matter to you, or little amounts that could be redirected elsewhere.
This isn't about feeling guilty for spending money.
It's about being able to say:
“I'd rather use some of that money for this.”
That's a very different mindset.
The habit matters before the amount
If you only take one thing from this article, let it be this:
You don't have to wait until you have more money to start building better money habits.
Your first savings transfer doesn't need to be impressive.
It can be $1.
It can be $5.
It can be the $10 you received from recycling containers.
What matters is that you've started.
Because small financial decisions, repeated consistently, can become powerful habits over time.
Ready to take another small step?
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Small steps. Better habits. More confidence with money. 💙
The information provided by Your Finance Lounge is general educational information only and does not take into account your individual objectives, financial situation or needs. Consider whether the information is appropriate for your circumstances and seek professional advice where required.
