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Let’s say you have $1 000 in a term deposit earning 5%
and a $1 000 outstanding balance on a credit card being charged at 15%.
You're lending your money to the bank in the form of the term deposit
for which it pays you $50 per annum in interest.
But then the bank lends your money straight back to you
in the form of the credit card debt,
at triple the rate of interest that it's paying you,
so it ends up costing you $150.
Now that assumes that the money that you're lending to the bank is in the form of a term deposit.
If your money was in an ordinary savings account you could expect to be earning 0.01% per annum.
If that were a blood alcohol level it'd be low enough to drive.
Unless you are on your P’s and can't
prove to the court that you consumed the alcohol as part of a religious ceremony.
Oh, Footy is no defence.