how old are you, and how long has it taken to save that much up?
i'm 13, and have about $650 in mine =)
just asking.
2007-09-29 04:09:16 · 11 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
None, it's not cash when it is in your savings account. Just some electrons on a computer.
2007-09-29 04:14:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
One of the best things about modern mortgages is the fact interest is calculated on a daily basis, so every pound you can throw at your home loan will go to work, straight away. Savings rarely earn as much as loans charge and by saving this cash in an account linked to your home loan, it could work to reduce the debt by that portion. Your money won't earn any interest but it won't be taxed, either, and by saving the interest you would be paying on that portion of your mortgage you could gain far more. Put simply, £10,000 in a savings account paying 5%AER would earn £500 after one year, which, after tax would leave a higher rate taxpayer with £300, and a lower rate taxpayer with £400. If you were to use that money instead to offset your mortgage (charging 5.5%) it would have saved you £550 in mortgage interest -- meaning you can pay down that home loan more quickly.
2016-04-06 06:52:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
First of all, good job!!
The amount of money in my account is probably the same numbers as the year I was born... but hey, at least I don't owe tons of money!
2007-09-29 04:13:31 · answer #3 · answered by Gina E 4 · 0⤊ 0⤋
$25. 44.
2007-09-29 04:14:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I have 25,000....rupees. Now go and look up the exchange rate and you'll see I've got squat.
2007-09-29 04:19:16 · answer #5 · answered by melady 5 · 0⤊ 0⤋
25 $78,550
2007-09-29 04:11:59 · answer #6 · answered by Anonymous · 1⤊ 0⤋
59, I spent it all.
I spent it all getting us to Texas
in
December 2006
Currently my balance is $0000.00
2007-09-29 04:14:15 · answer #7 · answered by ♫ Bubastes, Cat Goddess♥ 7 · 0⤊ 0⤋
I'm 41 $0.00
2007-09-29 04:12:08 · answer #8 · answered by Anonymous · 1⤊ 0⤋
ha ha ha...whats a bloody savings account??
2007-09-29 04:13:12 · answer #9 · answered by Anonymous · 1⤊ 0⤋
You are doing better than me
2007-09-29 04:14:15 · answer #10 · answered by Gypsy Gal 6 · 0⤊ 0⤋