Hi,
We're going travelling and will have about 15k to keep aside for when we return in January. Looking at options of what to do with this money rather than leave it sat dormant in a low return account.
I've seen CBA have 6 month fixed term at 2.45%, seems the best option, but hardly worth it for $180!
Any other ideas?
For $15k over 6 months, the best you can hope for is ~$200 (pre-tax). It's better than nothing, but hardly life changing. Up to you whether it's worthwhile to go through the effort of opening new accounts, etc.
15k isnt a lot of money a good return p/a is around 10% so on 15k over 6months even a good investment would be around 750 and currently the ASX is expensive i doubt you will be getting good returns keep it in the bank
High risk or low risk investments? Low risk won't get you much better than 2% or 3% per annum. In all honesty it is a small amount of money so if you want a low risk investment you can only expect a low return.
Perhaps cryptocurrency?
Put it in somebody home loan offset account, I offer 3.1%
Just make sure you have a legal contract, stating the rate, amount, how the interest is paid
How much risk are you willing to accept?
Westpac & Nab haven't announced their half year results yet & are returning 7%+ franking credits. This year might be a bit of a mystery as they will need to write off some $$.
Whatever way you mix it, you won't make a huge amount on $15k…
RED!
Rate Setter Peer to Peer lending. Instead of borrowing, you would be a micro lender.
www.ratesetter.com.au
Plenty of people could use your $15k while you're away and return it when you get back with interest.
any risks?
Possibly they won't pay back but ratesetter has a fund to cover that.
I didn't recommend ratesetter because the 1month rate is no different from other offerings and other options are longer than OPs time period. There is a possibility to get funds early but it's not guaranteed unless another lender is available.
Pay for your credit card when you get back from holidays. Then go on another holiday. Invest in yourself.
Black
learn how to short the market. Watch the ASX200 fall at least 80 points on Monday.
And then back up 160 pts on Tuesday
Even better, I don't care if the market goes up or down. I make money either way. Its a bear market rally best time to trade.
Pretty accurate on the -80 points drop today!
ING/UBANK/RAMS - 2.8%
all requires monthly deposits
4% from BoQ under 24yo, but you're 35yo
https://www.ozbargain.com.au/node/426579