This is so good!
The way I save is by having an auto deposit into a separate ‘high interest’ account every time I get paid, as modest amounts stack up and not seeing that money means it isn’t missed.
Comment on Melbourne Chit-Chat Thread 🫨🫥😶🌫️ - Saturday, 7 December, 2024
Baku@aussie.zone 1 year ago
I opened up a fixed term deposit account today. My options were fairly limited because of my age and the balance I had on hand, but I looked around, and am pretty sure I found the best interest rate I could, at least for now. At this scale, any extra interest I could get elsewhere if I were over 18 works out to be like 2 bucks anyways lol. Mostly in it for a safe place to keep my money away from my stupid reckless impulsivity anyways 😂
melbaboutown@aussie.zone 1 year ago
Baku@aussie.zone 1 year ago
I have a bit of a cheeky saving strategy - I pay 25% into tax, but don’t actually have enough money to need to pay tax. It’s kinda like an interest free, automatic, recurring, term deposit
I was actually meant to open a fixed term at tax return time, but that’s when all the bads were happening, so I was kinda stressed (and a bit depressed), and through a series of very poor financial decisions, wasted the majority of it. It’s all worked out in the end, though. I timed it so the TD will end around tax return time, so I can lump that in with it and reinvest
melbaboutown@aussie.zone 1 year ago
All things considered you’re doing well. I struggled to manage money when I was younger and then learned
Baku@aussie.zone 1 year ago
Thanks.! My biggest trouble is being uncomfortable having money. Always grew up worrying about it, and then being worried it’d get stolen, so now if I have money I go into how fast can I spend this mode. That’s why I’m so fond of these fixed terms and things like voluntary tax deductions
Should probably figure out how to fix that. Oh well. I’m sure I’ll work it out one day
Alamutjones@aussie.zone 1 year ago
Look at the young gent, being all responsible!