Where to keep it?
Discussion
So... Im earning money in Aus at the moment, but will be coming home for a month in June or July. Think i'll want about £2k in my UK account to fund it - buying and running a cheap car, plus spending money for food/beer etc. In my OZ account I can earn 6% interest PA, in my UK account sod all. Is it going to be better to keep my money over here and transfer it just before I go (and hope the currencies stay where they are or strengthen in my direction) or send the money home now, where I might earn less, and pay a little more - but at least i'll know months in advance how much i'll need and when its all covered.
Now, obviously nobody can predict the market and they would be a millionaire if they could - but ive been away from it for too long and dont know what things are like in the UK. Can some financially minded bods give me a clue as to what they think would be the best thing to do? Send it home now and earn no interest - but prevent any moves by the markets away from me, or leave it here and earn a bit of interest and hope the market stays as it is.
Now, obviously nobody can predict the market and they would be a millionaire if they could - but ive been away from it for too long and dont know what things are like in the UK. Can some financially minded bods give me a clue as to what they think would be the best thing to do? Send it home now and earn no interest - but prevent any moves by the markets away from me, or leave it here and earn a bit of interest and hope the market stays as it is.
6% on £2,000 is a whopping £120 a year, or £10 a month, so it's hardly life changing, forr that reason I'd ignore that side of things.
Do you think the currencies are likely to move that much? Have a look at where the Aus$ is against the £. Depending where it is in terms of strength tthen go with that.
With £2000 at stake I can't see it moving enough one way or the other to make a huge difference.
Do you think the currencies are likely to move that much? Have a look at where the Aus$ is against the £. Depending where it is in terms of strength tthen go with that.
With £2000 at stake I can't see it moving enough one way or the other to make a huge difference.
Gassing Station | Finance | Top of Page | What's New | My Stuff