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 😄
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. _________________
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.
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.
I opened an isa a few months back it killed me it's like I'm officially past it now.. 1.5% interest though! _________________ Shut up mate you're boring!
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