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how should i invest my money??? (1 Viewer)

suzieee

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i currently have $10000 in a term savings account and have just started a new job where i'm earning at least 800 per week... have cheap rent as i'm living with my cousin so i should be able to save around 500 of that per week... just wondering how i should invest the money?? i want to have enough for a trip to europe in 1012 (around 15000), as well as have enough for a house deposit when i get back
 

scarybunny

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If I had a time machine, I would not go to Europe in 1012.
 

suzieee

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oh i forgot, i'll also need to save up for a time machine..... i meant 2012 lol
 

MonkEE

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Just keep saving. See how high your back account can go.
Think of it like scoring points in a game.
 

suzieee

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ok, so i think i've decided what i'm going to do... after the tax review i heard about the first home saver account, where the government contributes 17% of any deposits you make in a financial yea up to $5000, plus you get interest from the bank on top of that (ME bank's homesaver account is offering 6 point something percent) ...only you can't access it until 4 years after the account has been opened. i'd put the rest in a high interest savings account/ term deposits and see how i go :)
do people on here know much about the first homesaver account?? like when the changes come into place??
 

Pace_T

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Not BHP/RIO thats for sure

Pricks!! =(
 

hungwell1337

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if your holding for 2 years

any S&P200 resource share will do. esp now, def over 50% gains in 2 years
 

aussie-boy

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I was gonna suggest the first home saver account, though you can only use your money for a house that you will live in. If you want to withdraw it all goes into super or something. It's been around for a couple of years.

The other obvious idea is to put $1k into super... because the Gov will pay $1k on top of that (100% return instantly is unbeatable) - it has to be a spare $1k though.
 

suzieee

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i already knew about the first home saver account... don't want to apply for one though unless i know that the government's new changes will apply to my account. and no way for the super idea- i won't be able to touch my money for another 45 years!! 4 years for the first home saver account is bad enough lol
 

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