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tamatama14

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#21014 13-Apr-2008 00:58
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Im a poor uni student :( kind of stuck on study
Is there any knid of way i can invest my $1000 dollor, so i can receve return for the investment??
I know that saving rate is quite high 8 somthing percent, but $1000 is bit less for saving

Thanks for your comment :)


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tonyhughes
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  #123143 13-Apr-2008 01:04
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Pay ANY debt you have first.

$1000 in your bank account could avoid fees and charges, so check with your bank.

Brokerage fees or tiered interest rates will make $1000 a pretty poor investment.







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  #123144 13-Apr-2008 01:20
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Go and see a financial advisor. They will be able to give you good advice on how best to invest your money.




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rscole86
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  #123160 13-Apr-2008 10:37
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Rule one, pay your debts off first!
With the only exception of non interest bearing loans, eg a special finance deal or your student loan? BUT make sure you can pay if off before interest starts accruing.


$1000, is not really a lot of money. You may just be better off putting it into a term deposit. 6 months 8.80% is not bad.

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  #123162 13-Apr-2008 10:55
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You might find that the on call accounts offered by the likes of ASB, Westpac, and Kiwibank may be more flexible compared to other investment options.

Namely the ability to withdraw the funds or add to it at any time is excellent. But I agree - any outstanding debts - pay them first. If this is your 'course costs' money from your student loan, try to save it rather than wasting it, if it is the 'interest free' overdraft that a few banks offer... remember you must pay it back at some point elsewise face harse fees..

ASB offer 8% on their fastsaver account.
Westpac offer 8.3% on their Online bonus saver account, or 8.1% on their standard online saver account.
Kiwibank offer 8.3% on their online accounts, but you require a minimum balance.

Best of all, these accounts are flexible so its a great way of parking money.

Brokage fees will take a big chunk of out $1000 and any potential returns, so consider your options. Talk to an advisor if unsure.




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johnr
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#123180 13-Apr-2008 12:38
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I heard blue chip is meant to be fantastic (not) or have you heard of the johnr investment fund. Lots of interest in your money. Return will be empty beer bottles and pizza boxes. You keen you sign up?

tamatama14

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#123211 13-Apr-2008 16:20
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Thanks for your suggestion


tamatama14

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  #123212 13-Apr-2008 16:24
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johnr: I heard blue chip is meant to be fantastic (not) or have you heard of the johnr investment fund. Lots of interest in your money. Return will be empty beer bottles and pizza boxes. You keen you sign up?


ya i did heard that Blue chip is bankrupted, causing investors failling their investment to Blue chip. Which is pretty bad.

 
 
 
 


johnr
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#123213 13-Apr-2008 16:27
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tamatama14:

Thanks for your suggestion



No problem! Mighty fine idea it was.

tamatama14

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  #123216 13-Apr-2008 16:38
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cokemaster: You might find that the on call accounts offered by the likes of ASB, Westpac, and Kiwibank may be more flexible compared to other investment options.

Namely the ability to withdraw the funds or add to it at any time is excellent. But I agree - any outstanding debts - pay them first. If this is your 'course costs' money from your student loan, try to save it rather than wasting it, if it is the 'interest free' overdraft that a few banks offer... remember you must pay it back at some point elsewise face harse fees..

ASB offer 8% on their fastsaver account.
Westpac offer 8.3% on their Online bonus saver account, or 8.1% on their standard online saver account.
Kiwibank offer 8.3% on their online accounts, but you require a minimum balance.

Best of all, these accounts are flexible so its a great way of parking money.

Brokage fees will take a big chunk of out $1000 and any potential returns, so consider your options. Talk to an advisor if unsure.


sorry im newbe, what is call account?
I did use student loan to pay of my territory education fee, i did realise is interest free which make it reliable for me as a poor unit student :). However i have like $10,000 debit with student loan Xp, otherwise i don't have anyother outstanding debts.

I want to learn how to buy shares and bond, but it is more difficult as i thought.

Thanks for your suggestion

manhinli
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  #123220 13-Apr-2008 16:46
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There are mainly two types of bank accounts: Transaction (sometimes called call accounts) and Savings

They're for obvious reasons, and have different specialties offered in different packages by different banks.




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tamatama14

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  #123223 13-Apr-2008 16:56
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manhinli: There are mainly two types of bank accounts: Transaction (sometimes called call accounts) and Savings

They're for obvious reasons, and have different specialties offered in different packages by different banks.


Thank you Laughing

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  #123230 13-Apr-2008 17:25
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tamatama14:
sorry im newbe, what is call account?


On Call accounts are typically savings accounts with higher rates of interest. Most of the accounts I listed are free (no minimum balance or account fees) and can be set up either over the internet banking site or at the branch.

The best thing about them is that the interest goes into the account, and grows - while with a lot of the promotional term deposits, they don't reinvest the interest? You can take money out and put more money in.

While I was a student, I used to have a small cheque account and a fast saver account, which while the returns were not significant, it was better than it sitting in a non interest generating account. I'd also spent a tiny bit of money on the sharemarket (around $500) but the returns on that have been negative compared to the interest made on my saving accounts.




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manhinli
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  #123234 13-Apr-2008 17:34
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cokemaster: The best thing about them is that the interest goes into the account, and grows - while with a lot of the promotional term deposits, they don't reinvest the interest? You can take money out and put more money in.

I think most banks do allow automatic reinvestment of the interest (depending on what type of interest rate or if it's a special). I usually have a one off term investments which is "compounded on maturity".

I do agree that if a need to get money moving in and out of a high interest scheme is required, then one of the online on call/savings accounts are a good way to go.




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allstarnz
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  #123235 13-Apr-2008 17:46
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Raboplus usually offer good interest rates.

Also in the times of uncertainty, they have a better credit rating the the NZ government, so in theory there is zero risk in terms of them going bust Laughing

manhinli
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  #123236 13-Apr-2008 17:47
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allstarnz: Raboplus usually offer good interest rates.

Also in the times of uncertainty, they have a better credit rating the the NZ government, so in theory there is zero risk in terms of them going bust Laughing

KiwiSaver... ahem... Laughing




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