Christmas Club Accounts

[Moorish]

So this year we've had an amount automatically deducted from our pay each fortnight and put in a Christmas Club account so we're not tempted to use the credit cards for those emergency incidentals and final layby payments.

We took a look today and were instantly pleased to find over $1000 there - unfortunately our happiness didn't last long, our smiles were quickly replaced by our jaws dropping to the floor when we saw the grand total of interest earned for the entire year . . .

$1.61

That's it! :eek:
UNBELIEVABLE!! :banghead: :hissy: :crying:

Next year we will NOT be making the same mistake and will have to find a better way of saving that earns a better return.
Any suggestions??

[punkybubbles]

I use ING for my online savings but their interest rate has dropped to 5.5% over the past few months.

I know Bankwest used to have fairly good interest rates - might pay to check them out.