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1567 posts

Uber Geek
+1 received by user: 813


  Reply # 1678949 28-Nov-2016 15:53
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TeaLeaf:

 

I think one of the banks, might be aussies Wetspac that offers 2.95% on a normal internet savings account. Ill have to recheck that.

I think its hard to give any kind of advice, and important to realise its not advise its just someones opinion. But, I think its important and great that young people ask what to with what seems like poultry to some, a large amount to them, because salaries havnt gone up by a lot in recent years (perhaps negatively vs inflation), just the paper estimate of real estate.

 

 

The best non-term rate with Westpac is their Bonus Saver, which gives 2.6% at the moment

 

Hourly earnings have been increasing by about 2% per year recently, vs 0.4% inflation.  Obviously if you get an increase due to better qualifications or experience, you can do better than that


705 posts

Ultimate Geek
+1 received by user: 104


  Reply # 1680232 30-Nov-2016 18:48
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Interest rates are low because the Reserve bank wants more money being spent in the economy and to cause this the banks need incentive to have them low. 


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