Dosh dilemma: Sharleen’s save then spend dilemma

Sharleen started the year off with good intentions. She set up a savings account and, when her first pay check of 2026 landed, she put some money into it. Not a huge amount, but enough to make her feel proud.

A few days later, she spotted a dress she loved in a shop window. Knowing she had a little money tucked away, she bought it. Now the savings are gone, the guilt has kicked in, and it feels like she’s back to square one.

Sharleen wants to know, how can she save money and actually keep it saved?

You’re certainly not alone Sharleen. Many of us save with the best intentions, only to dip into it at the first temptation.

The good news is there are simple strategies that can help keep your savings exactly where they belong.

Put savings into a fixed-term account

Fixed-term savings accounts don’t allow withdrawals for a set period, usually one, two or five years. In return, you’ll earn a guaranteed interest rate, often higher than flexible savings accounts. If you can’t access the money easily, you’re far less likely to spend it.

Try a limited-access saver

Limited-access savings accounts allow only a small number of withdrawals per year, or reduce the interest rate if you exceed the limit. These restrictions act as an effective deterrent, helping you think twice before dipping in.

Automate your savings

Set up an automatic transfer to your savings account as soon as you get paid. By treating savings like a bill rather than something you do ‘if there’s money left’, you remove the temptation to spend it first.

Create a clear, realistic budget

Knowing exactly what’s coming in and going out gives you control. A detailed budget helps you spot where your money is really going and makes it easier to commit to saving regularly.

Our free budget calculator can help you get started.

Use a ‘waiting period’ rule

Before buying non-essential items, force yourself to wait 24-72 hours. Most impulse purchases lose their appeal with time, and you may realise you don’t actually want, or need, the item after all.

Unsubscribe from temptation

Constant emails and app notifications advertising sales, discounts and ‘must-have’ items make saving much harder. Unsubscribe from retailer emails and mute shopping app notifications to reduce impulse spending.

Separate savings from spending

If possible, keep your savings account with a different bank from your everyday spending account. The extra effort required to transfer money can be enough to stop impulse withdrawals.

Make saving more interesting

Turn saving into a challenge. Set small, achievable goals or try a savings challenge. When you hit a milestone, reward yourself with something modest and planned, not a spontaneous splurge.

Allow guilt-free spending money

Completely denying yourself treats often backfires. Instead, build a small ‘fun money’ amount into your budget. Knowing you have permission to spend a little makes it easier to leave your savings untouched.