I agree with Paul's ideas of "saving" 10%, but I think people still need an extra pot of money to spend on medium-long term goals.

For instance I've set up separate accounts for holidays with my two daughters ($300 per month) and also to update my car every 5-10 years ($1000 per month).

They may sound like a lot, but I want to pay for the flights, accommodation etc ahead of schedule but also have spending money for when we go to a tourist attraction or experience. The car will still be a 2nd hand one, but it won't need a loan which is a great feeling because cars always depreciate.

I use the Raiz App to facilitate my small (incremental) savings habit and salary sacrifice an extra 15% into Super.

It all adds up, but most importantly I'm saving for my future spending NOT hitting the spend button and hope I can pay for it later.

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