Hi everyone. New here but have been reading for a few days.
I'm young (Almost 20), completely debt free. I own a decent car worth just under $15,000 with 50,000 kms. This is all paid off and in my name. I'm a casual employee, but earn between $1,200 and $1,600 per fortnight currently (Dont work full 38hr week).
Most of this is saved. I transfer all besides some that's needed for general everyday use. The account it goes to is a "high interest" savings account, I believe the rate is between 1 and 2% p.a. Can't withdraw or I lose monthly interest.
I have just over $10,000 saved. So it puts me at about $25,000 worth with the car too (Car bought 6 months ago). Expenses are incredibly low. I pay some rent to my parents, petrol, registration, insurance. Lets say $2,500 a year plus 10% of income as rent. I still save up at least $1,000 per fortnight ($26,000 a year).
I only got this job about 6 months ago and am just wondering what can I do with this money? I don't really like it sitting in the bank, but could this be the best/safest option? Wanting to look at something with higher returns. Just need some advice, thanks!
Also if I was working full time rather than casual I'd be on around $45,000/yr after tax. I'm not full-time, but just in an everyday retail job working anywhere from 3 to 7 shifts a week.
All figures in AUD, I don't go clubbing/drink/etc or spend much money at all on social outings.
Submitted February 01, 2017 at 08:51AM by obblebobbler http://ift.tt/2krL7sl
