This is what "I just woke up brain looks like" = collared = fixed. We just use different terminology.
Yep - I have just got used to it here. The straight translation here is "interest roof"
You can further use the bank's own products against them, by employing credit cards. Put all your expenses on credit cards, keep your savings in the "offset", then pay the credit card off a day before any charges start gaining interest there.
Yep. If good with money management, this works wonders. Unfortunately, most aren't and get trapped paying higher interest anyway.
That's how the banks make money, all they rely on is the 10-20% who get it wrong and they are gold. And it's not just money management, it's financial knowledge as well which is severely lacking in Australia.
Let me tell you a story I heard on a tram quite a while ago and I have told to so many other people.
Two young males (18~20) were chatting on the tram and one of them mentioned he was going to take a loan to buy a $10k motorbike. Then his friend mentioned that he should take a $15k loan instead and put the $5k in a savings account and get interest. Whoops and high fives and they went on their merry way.
Spot the mistake in the paragraph above :D