Thoughtful Thursdays – Savings IV

Hey team,

I’m keeping this short given I blasted you with two notes yesterday. So I’ll just summarise the last three Thoughtful Thursdays for you.

  •  Thoughtful Thursdays – Savings: Everyone spends up to their current level of income. So save by reducing your income. Take a number between 5 and 25 and automatically transfer that percentage of your salary into a savings account. Do it. Start with 5% if you need to, but work your way up over time. It may be painful in the beginning, but it is totally worth it in the long run.
  • Thoughtful Thursdays – Savings II: If you don’t have a mortgage, the three best accounts I’ve found (in my opinion) for your savings are the Bank West Hero Saver, The ING Savings Maximiser and the ME Bank Online Savings Accounts.
  • Thoughtful Thursdays – Savings III: If you do have a mortgage, the single best place to put your savings is into an offset account. Ask your bank about it.

*Drops the mike*

The plan is to either cover buying a house or investing in superannuation next. Have a preference? Let me know

Anyway, that’s a fair bit less than 5 minutes. Hope it helped

Categories: Investing

Tags: , ,

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