Bank spokesperson Clare Hunter said the best way to harness the motivation that came with the New Year was to act on it now.
“Set-and-forget savings tactics are a great way to commit to a financial goal and prevent willpower battles later in the year,” Ms Hunter said.
“With any extra money that comes your way, be it through an increase in your wage, a bonus, investment income, or a windfall, you could consider putting a percentage away to save or earn interest.
“No matter how old you are or how much extra you might earn this year, this behavioural change will help you save without depriving you, combining long-term saving benefits with instant reward.”
Ms Hunter said setting up an automatic transfer could help take the willpower decisions out of saving.
“If you’re on a pay cycle, where money lands in your bank account on a regular basis, set-up an automatic transfer from your pay account into a savings account,” she said.
“This decision to transfer a portion of your pay only needs to happen once, then you can get on with your year.”
Ms Hunter recommended people divided their pay into thirds and put one third away to save and lived within their means with the other two-thirds.
“This tactic helps you spend within a budget, while saving for future financial security. It’s an especially good mantra for people at the beginning of their working career.”