+ Reply to Thread
Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 34
  1. #11
    Join Date
    Oct 2015
    Posts
    1,082
    Thanks
    847
    Thanked
    857
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    deleted for privacy

  2. #12
    Join Date
    Aug 2009
    Location
    Brisbane, Queensland.
    Posts
    2,107
    Thanks
    285
    Thanked
    610
    Reviews
    4
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    You can still have an offset account and consider it savings. We have about 6 offset accounts with the cba that have varying amounts of money in it for different purposes. Eg rates, electricity and water in one. Actual savings in other. So it serves the purpose of being offset to our mortgage but still separate from other funds so we have a clear breakdown of what we can use for luxuries or holidays vs bills.

  3. #13
    Join Date
    Jul 2015
    Posts
    6,910
    Thanks
    4,793
    Thanked
    4,236
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    Quote Originally Posted by BigRedV View Post
    None. And when I say none, I mean we don't put anything aside as we just leave everything in the offset account.
    this. both our pays go into the offset. after the home loan gets paid monthly and the monthly credit card bill (we live off our cc) whatever is left over would be savings. it's not much at the moment, if anything actually, as I'm not working.

  4. #14
    Join Date
    Feb 2009
    Location
    my house
    Posts
    18,038
    Thanks
    1,422
    Thanked
    7,639
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 postsRuby Star - 15,000 posts
    Quote Originally Posted by nicole83 View Post
    You can still have an offset account and consider it savings. We have about 6 offset accounts with the cba that have varying amounts of money in it for different purposes. Eg rates, electricity and water in one. Actual savings in other. So it serves the purpose of being offset to our mortgage but still separate from other funds so we have a clear breakdown of what we can use for luxuries or holidays vs bills.
    Well I do consider it savings but it's not actually money we put aside.

  5. The Following 2 Users Say Thank You to BigRedV For This Useful Post:

    binnielici  (05-06-2016),turquoisecoast  (05-06-2016)

  6. #15
    Join Date
    Jul 2015
    Posts
    6,910
    Thanks
    4,793
    Thanked
    4,236
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    Quote Originally Posted by BigRedV View Post
    Well I do consider it savings but it's not actually money we put aside.
    you're making the money work for you so who cares what it is! love offset accounts!

  7. The Following User Says Thank You to turquoisecoast For This Useful Post:

    binnielici  (05-06-2016)

  8. #16
    Join Date
    Feb 2008
    Posts
    22,165
    Thanks
    3
    Thanked
    1,894
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 postsRuby Star - 15,000 postsDiamond Star - 20,000 posts
    None currently as paying off debt so I can start planning another holiday

  9. #17
    Join Date
    Jun 2011
    Posts
    3,487
    Thanks
    1,027
    Thanked
    2,107
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Prob around about 30% every month and is also in the offset account, which I consider savings. We also have other savings every month like kids, holidays, christmas etc that go into different accounts.

  10. #18
    Join Date
    Dec 2015
    Posts
    2,451
    Thanks
    3,281
    Thanked
    1,324
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by nicole83 View Post
    You can still have an offset account and consider it savings. We have about 6 offset accounts with the cba that have varying amounts of money in it for different purposes. Eg rates, electricity and water in one. Actual savings in other. So it serves the purpose of being offset to our mortgage but still separate from other funds so we have a clear breakdown of what we can use for luxuries or holidays vs bills.
    What's in our offset I don't consider savings as it is all allocated to outgoings. I have a strict budget and allocate the exact amount required each fortnight to cover all expenses (on an annual basis) and that is what sits in the offset. Anything above those outgoings goes directly to the mortgage.

    As I said in my first post when you have a mortgage having a separate 'savings' account doesn't make sense to me. Should there be an emergency I cannot repay within the interest free days on CC then we can just withdraw from the mortgage (no fees associated with this).

  11. #19
    Join Date
    Oct 2011
    Location
    Newcastle, NSW
    Posts
    3,793
    Thanks
    1,497
    Thanked
    1,198
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    We save around 20% of DH wage each fortnight. That being said, we just used a huge chunk due to buying a new car so back down a little now.

  12. #20
    Join Date
    Feb 2014
    Posts
    3,267
    Thanks
    326
    Thanked
    989
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by nicole83 View Post
    You can still have an offset account and consider it savings. We have about 6 offset accounts with the cba that have varying amounts of money in it for different purposes. Eg rates, electricity and water in one. Actual savings in other. So it serves the purpose of being offset to our mortgage but still separate from other funds so we have a clear breakdown of what we can use for luxuries or holidays vs bills.
    We have none ( and none in offset either 🙊) need to start having our money work for us so I was going to use our offset as our savings account


 

Similar Threads

  1. Savings account you can't withdraw from?
    By SpicyTurtle in forum General Parenting Tips, Advice & Chat
    Replies: 20
    Last Post: 24-12-2015, 09:05
  2. Savings challenge
    By blissfulfairy in forum Family Finances
    Replies: 63
    Last Post: 19-11-2015, 13:07
  3. Taxable income
    By silly in forum General Chat
    Replies: 20
    Last Post: 05-07-2015, 11:11

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Pea Pods Reusable NappiesPea Pods are the smart choice when it comes to choosing what's best for you, your baby and the environment. Affordable ...
REVIEWS
"Pigeon teats rule!"
by Alex
Pigeon PP Wide Neck reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›