Do you stash cash (perhaps literally) away from the banks?
Since Covid, when most banks here stopped paying any savings interest on normal transaction accounts, I've had a secure box where I store cash away from the banks. It's not world-beating numbers - not lots of zero's 8-)
Enough for short notice paying of bills, or hopefully any emergency repairs to house, or whatever.
Until banks pay interest on normal accounts again savings is difficult to justify, even in the so-called 'offset' account linked to my home loan. I prefer to pay off the principal directly and build up re-draw ahead of principal + interest.
Enough for short notice paying of bills, or hopefully any emergency repairs to house, or whatever.
Until banks pay interest on normal accounts again savings is difficult to justify, even in the so-called 'offset' account linked to my home loan. I prefer to pay off the principal directly and build up re-draw ahead of principal + interest.
