Savings Sheds are specialised savings accounts that use a variety of strategies to help you reach set savings goals faster.

Savings Sheds embraces the mindset of Save Now, Pay Later. Practicing delayed gratification is financially responsible. Instead of spending money you don't have and then scrambling to make monthly payments, Savings Sheds asks you to focus on what you want and set a plan. Save for small purchases, like a new phone, or big expenses, like a holiday.

Go to the Savings tab in Debut and create a new Savings Shed. Choose from one of our suggested Savings plans or create your own.

The more money you put in your Savings Shed, the faster you'll reach your goal, but it also needs to be sustainable. Set recurring payments weekly, fortnightly or monthly to steadily grow your savings. Next, turn on rounding. You can choose to round to the nearest $1, $5, or even the nearest $10, every time you spend, so you'll always be topping up your Savings Sheds with a few dollars here and there when you spend.

Finally, your Savings Sheds earn up to 5% interest per year. This is paid out in real-time. We are partnering with reputed funds manager in New Zealand to enable seamless stable growth via cash fund* on your money. This feature is coming soon to savings sheds.

*A cash fund, also recognised as a money market fund, is a unique mutual fund crafted to provide investors with quick access to their funds at a minimal risk level. Its primary objectives are safeguarding the initial investment, ensuring steady share prices, and delivering interest returns often more attractive than those from traditional bank term deposits, with the added benefit of greater flexibility. Traditionally favored by corporate investors for their dependability and swift access to liquidity, cash funds are now becoming a popular choice for anyone seeking a secure place to keep their funds accessible for immediate use. Debut is thrilled to extend this investment opportunity to all, making it simpler for a wider audience to enjoy the advantages of cash funds.

Say you've just a nice coffee for $4.90. If you have rounding turned on, Debut will round this value up and deposit the difference in your Savings Shed. If you have more than one Savings Shed, the change will be distributed among your Savings Sheds evenly.

Using our example from above, here's how you can expect this coffee to be rounded at the different rounding levels.