Savings Account+Macbook's

Feeblely on 19/03/2011 - 00:59
Last edited 19/03/2011 - 01:08

Hey guyz, I'm in uni and recieve youth allowance and i dont hav a lot of money (about 2k lying in my savings account on commbank). So do u know any good savings accounts with high intrest so i can dump all my money + the youth allowance in as i dont use any off it(my parents kinda pay everything).

Also i dont really noe how the banks work out intrest so could someone kindly explain? THANKS!

P.S Someone wants to sell their 1st gen macbook pro ($700) and air ($600). Both 13" and prices neogotiatable. Should i buy it and which one. Cheers

General Discussion

Comments

  • issh on 19/03/2011 - 01:16

    Sorry on iPad ATM

    For interest, many banks will give you a very small interest, about 0.05%, not sure what rate is thes days
    Interest can be done daily, weekly, monthly, however monthly is most common

    I use commonwealth to dump my youth allowance in it
    For commonwealth interest every month, i get like 0.01%(very low) however every three months I leave it there, without taking any money out and depositing evergy month, i get an extrA 1% interest cumulative, that's every there months though.

    Interest is basically like the bank paying you to put your money in their bank hold, they paye you very low

    • cwongtech on 19/03/2011 - 23:11

      For interest, many banks will give you a very small interest, about 0.05%, not sure what rate is thes days
      Interest can be done daily, weekly, monthly, however monthly is most common

      Dude, that's just Commonwealth bank account for kids.
      Online saver is 4.50% for it sitting there, even if you withdraw (last time I checked at least)
      Progress saver has a crap interest rate but requires minimum deposit of $10 each month and they give you 5% as long as you also don't withdraw.
      That was ages ago though, I think they might have up'd the interest rate just a tiny bit though.

      • issh on 19/03/2011 - 23:16

        lol damn.. i should really change who i bank with

        • [Deactivated] on 22/03/2011 - 04:39
          +1

          you dont need to change, just open a commbank netbank saver - it's free and you can do it all from your netbank just log in and go to open new account! if you call them up and ask for bonus interest they usually give you an extra 1-1.4% aswell!

  • issh on 19/03/2011 - 01:19

    As for the mbp and the MBA, the specs would be nice to see

    But the main difference between two is size and weight

    Mbp is heavier than the MBA

    Those prices are alright for macs, especially the mba

    But what are you wanting to use the laptops for?

  • sparkles on 19/03/2011 - 09:19

    Go for an ING Savings Maximiser:
    http://www.ingdirect.com.au/savings/savings_products/savings…

    or

    UBank USaver:
    http://secure1.ubank.com.au/ub/web/usaver/online-savings-ove… -

    Both of these will pay you a good interest rate.

    CBA also have the Netbank Saver account but this will pay slightly less interest:
    http://www.commbank.com.au/personal/accounts/netbanksaver/de…

    Since you are starting out I would recommend a book called Barefoot Investor:
    http://booko.com.au/books/isbn/9780980292473

  • Feeblely on 19/03/2011 - 22:29

    Usaver seems nice. So do i put $x and it goes up by 6% every month?…. Wow i'll be rich by the end of the year. WHAHAHAHA.

    sighs..if only.

    On the macbook side. Im using for uni and gaming so i need LOTS of battery life. Also i do like how they both look so i cant really choose. Should i just buy refurb/new from apple.

    Specs are:
    -air is 13 inch screen with 1280x800 Resolution, 2GB RAM, 80G HDD

    -MacBook Pro. Intel Core2Duo 2.53Ghz. 4Gb Ram. Nvidia Geforece 9400M.320 Gb hard disk

    P.S i dont noe wat year their from, all i noe is that its the 1st gen ones. so could someone tell me which ones newer/better

    • issh on 19/03/2011 - 22:37

      uni and gaming….

      Gaming on macs is not that great, as SOME games are not mac compatible
      Uni great choice on the size, i prefer 13" laptops to anything

      i would say that the MBP is more of your choice, as gaming is one of your uses, 4GB ram is ideal for gaming

      try to haggle the MBP down to $600-$650, if possible

      however if you are planning to photoshop(heaps and heaps of layers) an new notebook should be considered, as ram is too little, for large photoshop files, 8gb+ ram is ideal

      as for the banking, use the ubank calculator to the right

      http://secure1.ubank.com.au/ub/web/usaver/online-savings-ove…

    • sparkles on 19/03/2011 - 23:08
      +1

      You'll be 6% richer by the end of the year, not every month. Interest rates are quoted per annum ie. yearly.

      For example if you put in $100, you'll have $106 after one year.

      So, if you put in $2000, you'll have $2,120 after one year. Unless it compounds monthly, which makes it a little more complicated in the calculation. LOL. Also remember, you have to pay tax on the $120 you earned too, don't forget.

      • Feeblely on 19/03/2011 - 23:22

        Okay, well i used the calculator AND… its says to reach a goal of $10,000 starting with $2500 with deposits of $200 fortnightly, it takes 1.38 years (i think 1 yr+ 5 months)
        with intrest earned being $550 (<—no idea wat that means)

        That seems alright?

        @issh:so MBP is better than MBA? and the only games i play are like warcraft 3 (DOTA) and those type. pretty sure its not graphics intense.

        Also i'm pretty good at comps, so i'll probaly just install windows 7 on it.

        P.S was the 1st gen MBP and MBA released in 2008?

        • issh on 19/03/2011 - 23:31

          MBP is better than MBA?

          performance-wise, yes(if the RRPs are the same)

          considering you are playing DOTA, these are Computer requirements
          both laptops will be able to play it easily, however it won't be full screen like FULLHD, but it will be cut, at the sides

          Minimum System Requirements:
          400 MHz Pentium II or equivalent, or a 400 MHz G3 processor or better.
          Windows 98, Windows ME, Windows 2000, or Windows XP. Warcraft III requires Mac OS® 9.0 or higher, or Mac OS X® 10.1.3 or higher
          Warcraft III requires 128 MB of RAM. Virtual Memory should be enabled on computers running pre-Mac OS X versions of the Mac OS®.
          A keyboard and mouse are required.
          A hard drive with at least 550 MB of free space
          8MB 3D video card (TNT, i810, Voodoo 3, Rage 128 equivalent or better) with DirectX 8.1 support. For Mac OS® systems, a video card consisting of an ATI Technologies or nVidia chipset with at least 16 MB of memory is required.
          A DirectX-compatible 16-bit sound card is recommended. Warcraft III will work with the built-in sound features of the Mac OS®.

          also considering the HDD space of each
          MBP has 320GB
          whilst
          the MBA has 80GB(not sure if it is SSD)
          you will have to also consider

          was the 1st gen MBP and MBA released in 2008?

          1st Gen
          MBP—> Released in '06

          MBA—> Released in '08

  • twodollah on 19/03/2011 - 23:15

    Might be a good idea to do the research yourself, since you're a uni student n everything. Good skill to have (unless you're an arts student, that is.)

    • Feeblely on 19/03/2011 - 23:25

      lol i'm a really incompetent person. I still don't noe how i got inTO uni. And no im not an arts student (im science) but i do love arts! ESP. painting and sculpture

    • A Banana4scale on 21/03/2011 - 02:54

      I'd get the MBP, since GFX are better but that is just me

  • Feeblely on 20/03/2011 - 00:02

    1st Gen
    MBP—> Released in '06

    Umm well i checked wikipedia (stupid i noe) and it said the first gen MBP 13" was released in June 8, 2009 so im not too sure.

    If it was then imma gonna just buy it $700. I hope im not getting ripped off (i.e should i w8 for better deals?)

    P.S also, srry if it seems rude, but y're u people up so late? is ozbargain THAT addictive? XD

    P.S.S http://en.wikipedia.org/wiki/MacBook_Pro

    • issh on 20/03/2011 - 00:16

      1st Gen
      MBP—> Released in '06
      Umm well i checked wikipedia (stupid i noe) and it said the first gen MBP 13" was released in June 8, 2009 so im not too sure.

      yes true, '06 is 15", '08 is 13"

      If it was then imma gonna just buy it $700. I hope im not getting ripped off

      if i had $700 to spend, i would buy a PC(as opposed to a mac), but macs and PC are differnt
      a Brand new pc would give better/equal specs to a used MBP
      i know that if i were to place my Powerbook G4 on ebay, i would probably fetch the same as my SONY VAIO(which has far better specs)

      For $700 (or less) you are getting a fantastic deal
      Look at ebay postings
      http://cgi.ebay.com.au/Macbook-Pro-15-2-53-GHz-4GB-/16055846…

      $900+ for that laptop, and yours has a bigger HD(70gb more)
      so for $700 it is an extremely good deal

      srry if it seems rude, but y're u people up so late?

      i'm gonna go all-nighter tonight, exams coming

      is ozbargain THAT addictive?

      i procrastinate too much :(

      • Feeblely on 20/03/2011 - 00:38

        lol same, i'm supposed to be studying for uni tests that r coming up next week (so far, i got 100% for bio but only 60% for psych) still have physics and chem to go. PLUS im going to sydney in 3 hrs flight at 4am then flying back home at 12am on sunday. I hate uni atm.

        back on topic: i have looked on ebay and so far have like ONE 13.3" laptop that is cheaper ($460) with those specs

        eg.

        http://cgi.ebay.com.au/Dell-Studio-XPS-13-IntCore-2-Duo-2-40…

        and this is brand new but worse specs:

        http://cgi.ebay.com.au/Toshiba-Satellite-Pro-T130-13-3-SU410…

        Plus these notebooks arent apple and apparently apples have the best resell prices.

        "if i had $700 to spend, i would buy a PC(as opposed to a mac), but macs and PC are differnt"

        u mean a destop? or a windows laptop?
        if u can find me one at around $700 that'd be great!

        • issh on 20/03/2011 - 00:56

          windows laptop?

          windows laptop…

          http://cgi.ebay.com.au/Acer-5741G-Core-i3-2-13GHz-4G-320G-15…
          $714


          Intel® Core i3 330M Processor 2.13GHz, 1066 FSB 3M cache
          Fast than Core 2 Duo Processors
          •Genuine Windows 7 Home Premium 64bit
          add $19 Upgrade to Windwos 7 Professional 64 bit
          •15.6" HD LED 16:9 Color Shine display, 1366x768 res.
          •4GB DDR3 1066MHz SDRAM memory
          •320 GB SATA, hard drive (add $69 upgrade to 500G)
          •Dual-Layer Multi-Format DVD Writer
          •NVIDIA® GeForce® GT 320M Graphis with 1GB Dedicated DDR3 VRAM,
          •Wireless 802.11ABGN, Gigabit LAN, Bluetooth 2.1+EDR
          •Integrated WebCam & Mic.
          •1x HDMI, 3 x USB, 5-in-1 CARD READER,
          •Multi-gesture touchpad
          •AC Adapter & Battery: Lithium ion (6-cell)
          •1 Years Acer International Warranty, (add $29 extend to 2 years WARRANTY) Australia wide pickup & return Service

          Note: Intel Core i3 330M @ 2.13GHz is better than Intel Core2 Duo @ 2.53GHz

          back on now

          researching

          15.6"
          $72~
          http://www.onlinecomputer.com.au/product_info.php?products_i…

          these are brand new

  • Feeblely on 20/03/2011 - 01:09

    oooh nice. I'll jump on it if only it was 13" =.=
    Man that graphics card is nice. Dammit y'd u hafta be acer+15"
    oh wells gonna sleep now. got 3hrs till plane departs. have fun "researching" issh.

    P.S my advice, DISCONNECT ur internet while ur working and move all PC games to a usb drive. then delete all windows games like soltaire, free cell etc. THEN u can study. trust me, my laptop+internet+dota+soltaire is wat killed me during my VCE exams

    • issh on 20/03/2011 - 01:14

      P.S my advice, DISCONNECT ur internet while ur working and move all PC games to a usb drive. then delete all windows games like soltaire, free cell etc. THEN u can study. trust me, my laptop+internet+dota+soltaire is wat killed me during my VCE exams

      gonna do that right now

      • Feeblely on 20/03/2011 - 01:23

        ROFLS and gl

  • fungi79 on 20/03/2011 - 11:21

    Depend on what games you're playing, you probably won't be able to play recent games say from 2010 onwards. Battery life on the original unibody macbook isn't great either, the one I'm typing on gets about 3 hrs typically. The newer models from 09 onwards have 7 hr battery life or better.

    I'd say for 700 you need to prioritise what you want. If uni work is why you're buying it, get the macbook pro. If you want to travel a bit as well or you have to commute a long way to uni or between lectures and you want something light, get the MBA. If you can haggle down to 500-550 on the MBA it's a bargain.

    If you want both gaming and uni work, look at windows laptops. There are occasional i3s, or even i5s floating around ozbargain with dedicated graphics for under 700. They will be ugly as sin though.

    • Feeblely on 21/03/2011 - 01:36

      Yup, i've seen the windows ones, their hideous its no joke…..

      The nice looking ones are sony vaio's and asus u36 but at these prices, i might as well get a new macbook.

  • patientvalue on 20/03/2011 - 18:49

    Feeblely

    ubank usaver is the way to go. first have your youth allowance deposited into another account and then use their ASP (auto saving plan) to deposit it into your usaver account. this will entitle you to bonus interest so total interest is 6.51%. now it is compounded monthly ie ewarn interest on interest in the account so the effective rate is around 6.75% p.a. (yearly).

    re computers: if you are going to drag it to uni quite often eg type lect notes up as you listen then mac air would be ideal as it is very light. once a laptop gets too heavy you will not want to carry it around with you so it becomes a desk top in which case buy a desk top and it will be cheaper and more powerful.

    cheers

    • Feeblely on 21/03/2011 - 01:34

      Thanks on the comp tip. but i'm pretty sure both are pretty light so i'll be fine, plus i'm gonna game, so the MBP is wat i'm gonna get (from wat issh stated, the MBP>MBA in terms of gaming)

      In regards to the intrest, i'm still confused with their terms and conditions.

      COnditions:
      "We’ll calculate interest on the daily closing credit balance of your UBank account (as at the end of each day), up to and including the last day of the month. Interest is credited to your account on the last business day of each month or at account closure. Interest is calculated as follows:
      Daily Closing Balance x Interest Rate (%) p.a.
      365
      Interest will begin to accrue when funds are credited to your UBank account."

      Does that mean my account increases by 1.651% each month?

      Therefore isnt it $x(my total money) * 1.651^12 per year?

      • patientvalue on 21/03/2011 - 08:00

        you made some mistakes in your calculations.

        interest rate formula (1+i/p)^p. where i is interest rate and p is no of periods in this case 12. so interest is 1+(0.0651/12)^12.

        do the division first. then that figures is raised to the 12th. and only then add 1. make sure you decimal for the interest rate is in the correct place (divide by 100 if not sure eg 6.51 / 100).

        re computers- an extra kilo will become a real drag real fast. especially if you have text books. but like everything in life we gotta compromise.

        all the best

        • issh on 21/03/2011 - 10:48

          re computers- an extra kilo will become a real drag real fast. especially if you have text books.

          if there is an .pdf file of the textbook, it will become real handy as you can place on the computer and use it there instead of bringing the textbook

  • jashjash on 22/03/2011 - 12:04

    Btw, don't forget UBank have a different "USaver Reach" account.

    https://secure2.ubank.com.au/ub/web/usaver/onlinesavings-sav…

    It gives 6.51% interest for accounts with $0 to $5000 dollars, for people aged between 18 years and 29 years old.

    So it's good for those who are starting their savings, who can't contribute regularly to their savings, yet they still get the 6.51% interest rate.

    (Normally the interest rate is 6.01% and an additional 0.50% if you automatically contribute $200 a month)

    • Feeblely on 22/03/2011 - 21:03

      Yea thats the one i'm probaly getting (the reach).
      Well with the macbook, I have decided to get the MBP for $700. Gonna see if I can lower the price.

      Thanks for your help guys!

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