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Date Published : Wednesday, April 30, 2008
Saving money is something that we all know we should do but it is something that is always pushed to the back of the mind, for another day.
With increasing interest rates, an uncertain financial climate and rising inflation, it can be hard to find money that could be put into a savings account anyway. The pay packet all too often gets spent on essentials and, when it's not, it goes on luxuries.
However, even through these tough times, consumers across Australia can make small cuts in their expenditure in order to put money away for a rainy day.
Many of the major banks in Australia may be sympathetic to your cause and offer high-interest savings accounts - so the most can be made out of the money that is in them - or, in some cases, waive fees. According to the Consumerist, most banks will give customers one free courtesy fee waive per year, but they will not do it unless they are asked.
Meanwhile, switching credit cards to a provider which gives zero per cent on balance transfers can help ease the financial strain. Credit cards which offer interest-free periods are also a way of saving money.
The Consumerist stated: "Be careful to read all the rules though, because if you break some of them, you can shoot back up to your old rate or higher. Also the zero per cent is for a limited time, so mark your calendar and be prepared to shift your funds again."
So it is possible to save. It just requires a bit of effort, that's all.
Compare savings accounts.
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