Banking, Savings and Investments
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- #1
- Posted: 03/26/2015 00:11
- Post subject: Banking, Savings and Investments
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It's an area I am not an expert in as I have only recently in life got my act together with my money. Looking to hear from others who might know more about it.
Like which bank are you using and most importantly do you have a savings account? If yeah, how much % yearly do you get from the savings there? How long have you had?
I'm currently looking for a savings account as I only have a debit at the present.
You know what? Anything relating to the thread title can be talked about here 😄
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- #2
- Posted: 03/26/2015 00:14
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user Kiki confirmed as super elaborate phishing scam
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meccalecca
Voice of Reason
Gender: Male
Location: The Land of Enchantment 
- #3
- Posted: 03/26/2015 00:32
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| sp4cetiger wrote: | | user Kiki confirmed as super elaborate phishing scam |
he's actually a Nigerian prince
_________________
http://jonnyleather.com
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Hayden
Location: Vietnam 
- #4
- Posted: 03/26/2015 00:56
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Well. In Canada, 'high-interest saving' is at 0.8% right now 🤣
And just go to your local bank. They'll explain everything to you.
_________________
Doubles & Conch
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benpaco
Who's gonna watch you die?
Age: 28
Location: Missouri
- #5
- Posted: 03/26/2015 01:04
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Just did a project on all this for Econ actually, so I can pretend I understand for about a month or two before being crushed by the weight of college finances and not actually having a clue what I'm doing.
But yeah Barclay's online savings has a 1.00% APY which is really high and past that, if you don't need to get to the money for some years, you should probably just buy bonds.
_________________
. . . 2016 . . . 2015 . . .
"While I'm alive, I'll make tiny changes to Earth" - Frightened Rabbit
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Defago
Your Most Favorite User
Gender: Male
Age: 33
Location: Lima 
- #6
- Posted: 03/26/2015 02:23
- Post subject: Re: Banking, Savings and Investments
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| Kiki wrote: | It's an area I am not an expert in as I have only recently in life got my act together with my money. Looking to hear from others who might know more about it.
Like which bank are you using and most importantly do you have a savings account? If yeah, how much % yearly do you get from the savings there? How long have you had?
I'm currently looking for a savings account as I only have a debit at the present.
You know what? Anything relating to the thread title can be talked about here :) |
Well I'm half a year away from graduating as an Economist, specializing on Finances and currently working on a bank's trading table. So any/all questions are welcome!
I'm using Scotiabank, and since I'm living off my income without any savings happening it's just a checking account with a shit interest.
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- #7
- Posted: 03/26/2015 06:46
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never take the "special offer" bank credit cards. TRUST ME
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albummaster
Janitor
Gender: Male
Site Admin
- #8
- Posted: 03/26/2015 08:24
- Post subject: Re: Banking, Savings and Investments
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Interest rates are terrible right now, you might as well put the cash under your mattress. If you're putting money away for long-term savings (more than 5 years) you'd be better off with a stocks & shares ISA invested in an index tracker fund (e.g. following FTSE All-Share), or bonds if you want to play safer. You wouldn't pay tax on any returns and the yield would be likely much better than in a bank. It depends on how much risk you can afford to take and how long you are prepared to invest for.
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Romanelli
Bone Swah
Gender: Male
Location: Broomfield, Colorado
Moderator
- #9
- Posted: 03/26/2015 11:45
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If you want to send me your account number, I'd be happy to take a look at what you've got going for you...
😈
_________________
I'm leaning on the threshold
Of her mystery
And crashing through the walls
Of dying history
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HigherThanTheSun
Gender: Male
Age: 34
Location: UK 
- #10
- Posted: 03/26/2015 22:33
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I opened an isa a few months back it killed me it's like I'm officially past it now.. 1.5% interest though!
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Shut up mate you're boring!
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