How to Start Saving Money Today

You don’t need a huge income or a perfect budget to start saving—you just need a few simple moves you can do today and repeat.

Use KOHO Essential as Your “Save While You Spend” Account

Saving is easier when your everyday account helps instead of just holding money.

With KOHO Essential:

• It has a low monthly plan fee that can be waived when you set up direct deposit or add +$1,000.

• Use a prepaid Mastercard® for groceries, bills, subscriptions, and travel.

• Grow your savings with a 2% interest savings rate on your entire balance.

• Earn 1% cash back on groceries, eating & drinking, and transportation.

• You can subscribe to Credit Building for $10/month, it's an affordable way to build your credit history.

• Enjoy unlimited transactions and free e-transfers (never worry about fees when sending money to someone again).

1. Pick a Small, Real Starting Goal

Instead of “I should save more,” pick something specific and small, like:

• $100 emergency starter fund

• One month of your phone bill

• $20 per paycheque

A small goal you actually hit beats a huge one you never start.

2. Pay Yourself First (Even $10)

As soon as you get paid:

1. Move a set amount into your savings/goal (even $10–$50).

2. Treat it like a bill to your future self, not optional leftover money.

If you wait to save “whatever’s left,” there’s usually nothing left.

3. Cut One Expense, Not Your Whole Life

You don’t have to live on rice and beans—just pick one thing to trim:

• One fewer delivery order a week

• Downgrading one subscription

• Swapping one takeout meal for groceries

Move the exact amount you cut straight into savings so it doesn’t disappear into random spending.

4. Use Separate Buckets for Savings

Keep savings separate from spending so you don’t accidentally use it:

• Create a dedicated “Emergency,” “Travel,” or “Future Me” goal.

• Don’t mix it with your daily tap-and-go money.

Out of sight (a bit) = less temptation.