1. 1. Plan what you're saving for. It doesn't matter what your goal is – a holiday, a new car, a deposit for a home loan or just to have the security of having something set aside for a rainy day, knowing what your purpose is will provide you with the motivation to start. Prioritise your goals under short term (1 - 3 years), medium term (4 – 10 years) and long term (10 years plus), then determine which is the most important to you. You might want everything on your list, but you will have to prioritise.
2. 2. When you find out how much each of your goals will cost, divide the cost by the number of months in your plan. This will give you the amount you will need to set aside each month. For example, a $6,000 car in two years time would require monthly savings of around $250.
3. 3. Do your budget. Successful savings will often mean having to cut down on something else. When you find out exactly what you spend your money on, the decision to cut down will probably be much easier. Cooking instead of eating out and/or buying takeaway will reduce expenses, using cash instead of credit cards will mean you're not paying interest.
4. 4. Set up a separate account for your savings. This will isolate your savings and reduce the risk of "accidentally" spending it if it's mixed with your everyday transaction account. In time, you might like to think about "investment" accounts, which will increase your return.
5. 5. Enjoy your reward!

Kaye Norris, Linda Walker, Chris Siemers, Jocelyn McMillan.