I'm not really too sure what I should be doing with my savings at the moment. I do want to invest, but I'm concerned at my lack of knowledge to be doing anything just yet.
What I'm thinking, is while I'm sorting myself out, go with a term deposit. At the moment I'm getting an interest rate of 4.1% on my savings, which I'm unhappy with. So my questions are:
- Has anyone used Raboplus? They seem to have a nice interest rate, but is this the best? http://www.raboplus.com.au
- Raboplus state there is a minimum deposit of $1000, but how much should I transfer to an account like this? Transfer half and invest the rest in managed funds? Is one year a sensible amount of time?
- What is the best way to transfer my money across? I've never done this before - do you just give the details to your existing bank, and ask them to transfer it? Could I get some tips on what to look out for, and information that I should be asking? eg. fees
- I have a debit card with St. George. Firstly, is this the best debit card to have? I'm not too happy with their fees right now. Can someone suggest better alternatives? Also, are there any advantages (eg. quick transfer of funds) to keeping some savings with St. George for the sake of the debit card if need be?
- Investment alternatives? What about managed funds? What is the most profitable way for someone who is still learning about investing, but wishes to invest money somewhere?