Episode 4

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Published on:

4th Jun 2024

Boost your savings: Find the perfect account

Australians have $1.5 trillion stashed away in deposit accounts, but are we losing out by settling for subpar savings rates?

This week on the Friends With Money podcast, Money’s Tom Watson is joined by Rachel Wastell, personal finance expert at Mozo, to chat about setting yourself up for savings success.

  • Have banks passed on cash rate hikes to savers?
  • What are the highest savings account rates around?
  • Why are some savers reluctant to switch banks?
  • How can you choose an account that suits your needs?
  • How safe is money in the bank?

**Clarification: The Financial Claims Scheme (referenced in this episode) covers deposits of up to $250,000 per account holder, per ADI. For more information visit APRA’s Financial Claims Scheme hub.

#friendswithmoney #tomwatson #rachelwastell #savings

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About the Podcast

Friends With Money
Earn. Save. Invest.
We all have questions about money; how to earn it, how to spend it, and the best ways to invest so we can watch it grow.

The Friends With Money podcast, created by Money Magazine (Australia’s longest-running and most-read personal finance magazine), shares its extensive network of finance experts, in-depth knowledge of markets and timely advice to help you understand the world of money.

Hosted by senior writer, Tom Watson, and editor-in-chief, Michelle Baltazar, Friends With Money is a weekly chat with a variety of credentialed guests that you won’t want to miss. Listening and learning will help you on the path to financial freedom.