What can I do with my money?
Q.
I'm a stay at home mum and I have managed to save $6,000. At the
moment it is sitting in a bank savings account, but I feel it could
be earning more interest elsewhere. I don't need access to it and
currently I'm a non-resident of Australia. What can I do with my
money?
A.
It depends on your goals. If you think you will need it within
three to four years you should opt for one of the high interest
bearing accounts offered online by the major banks. If you can take
a longer view you can think about investing it in a share
trust.
Each week financial advisor Noel Whittaker answers your
questions.
