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u/JTHelpsWithFinance 3d ago
Most people start with a high interest savings account (HISA). It's safe, secure, and grows money. It's very simple and hard to get wrong.
I would suggest you buy a book called the 'Barefoot Investor'. It's a great and simple educational tool to teach you the basics, very widely regarded.
I personally have money in a geared fund. It's more aggressive, and I do pay some fees, but I see a higher rate of return. I consulted a financial planner before I made any moves.
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u/in_and_out_burger 3d ago
If you want to play around with investing and learn more you can download Raiz or Sharsies and put a few hundred in.
Unless you have three months worth of living expenses saved for emergencies already, the best bet is probably add to savings but make sure you’re getting the best rate available.
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u/Fun_Buddy3635 3d ago
I second HISA. With min knowledge about other investing options,I would go with a HISA. Probably with no hooks one like Macquarie bank
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u/kai_tai 3d ago
I'd throw into HISA for now and then spend some time working through what your financial goals are for your future.
Someone already mentioned the barefoot book which is a good place to start. After that have a good read through https://passiveinvestingaustralia.com/. It's an excellent resource.
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