Title: Westpac - $200 in a Bump Savings Account for Any Australian Child Born in 2017 (Accessible When 16 Years Old) - OzBargain
Headings: Westpac -
$200
in a Bump Savings Account for Any Australian Child Born in 2017 (Accessible When 16 Years Old)

Westpac - $200 in a Bump Savings Account for Any Australian Child Born in 2017 (Accessible When 16 Years Old)
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Content: I'm seeing a lot of hate here for giving extra help for the kids… Or are most kids just days just that ungrateful? Or is everyone here going to still their houses when they retire, go on huge trips, spend all their super and leave nothing for the kids when they die? YTW on 02/01/2017 - 01:20
@webbiegareth: I just know how much it helped me to do it all 'myself' (with the careful guidance and support from parents) at a young age. What better time to learn how to save up and reach a goal than when you are still partially under the wing of your parents. I wonder how many teens who were given their first car get a shock the next time they need a car and have to fund it themselves. My kids will get plenty of financial support from me, the same way I did from my parents…just delivered in a way that helped me to help myself. Your parents didn't just hand you a car - you paid it off. That is very different. DisabledUser81704 on 01/01/2017 - 11:54
+1 vote
Pay off your mortgage faster
This is the best option since principal will be high
Make sure you have enough cash flow/liquid assets if a surprise crops up
Get an online savings account
Get paid
Pool your money with your wife in 1 account
Transfer that money into online savings account at the end of each monthly period
Normally you get bonus interest if
- you make a minimum deposit
- only make one withdrawal
So deposit a decent sum at the end of the month
Transfer out of the start of the month
If you keep it all in the same bank the transfers are instant which makes it a lot easier
And your money stays available at all times to use as required
The trick is not to spend on useless junk
bchliu on 01/01/2017 - 12:49
+3 votes
"The trick is not to spend on useless junk"
haha.. we're in OzB.. that doesnt work.. :)
webbiegareth on 01/01/2017 - 19:41
+1 vote
For #1, I use my mortgage as a savings account.