I have an online savings account with about $4000 in it.
This is my rainy day slash emergency money. It is put aside basically incase my car craps itself and I need a replacement, in case I need to pay for damages that may occur to other peoples car, property or if I need some costly medical bills or what ever.
I've got it in an online savings account at Rabodirect in New Zealand (I live in NZ)
It's earning 4% interest and is on call.
Should I keep it in an on call account, in laddered term deposits of $1000 maturing every month or so or put the whole lot in term deposits and break it if need be?
Just feels like wasted money losing to inflation.
Oh and I have 3rd party car insurance, basic flatting insurance and basic medical cover (specialist and operations)
This is my rainy day slash emergency money. It is put aside basically incase my car craps itself and I need a replacement, in case I need to pay for damages that may occur to other peoples car, property or if I need some costly medical bills or what ever.
I've got it in an online savings account at Rabodirect in New Zealand (I live in NZ)
It's earning 4% interest and is on call.
Should I keep it in an on call account, in laddered term deposits of $1000 maturing every month or so or put the whole lot in term deposits and break it if need be?
Just feels like wasted money losing to inflation.
Oh and I have 3rd party car insurance, basic flatting insurance and basic medical cover (specialist and operations)