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Savings
Question | Answer |
---|---|
What is savings | The part of your income you don't spend |
Why is saving important | It allows you to earn interest on them and you can by things without APR. |
Where can you save | An Post, The Credit Union, Banks |
What is DIRT | Deposit Interest Retention Tax (DIRT) is taken of savings before they are added to your account |
Why do people save | Future needs, Unforeseen events, Large purchases |
Name 2 accounts for saving | Fixed term and small current account |
What is the difference | Fixed term is for people who want to save for a longer period of time. A small current account lets you carry out your financial activities |