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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 79

Make your money work for you

An awful lot of us are guilty of wasting money by not making the best use of it – whether it’s a small amount or large, long term or short term. From not cashing cheques to leaving cash in low interest accounts because you’ve forgotten about it or can’t find the time or be bothered to move it.

Here are a few tips to get you thinking about whether you are making all your money work for you:

  • Don’t leave money inactive in bank accounts – move it around to high interest accounts, even if it’s only for a few days. Electronic banking means money can be easily and simply switched from one account to another – even for very short periods.
  • Never be satisfied with the interest rate you are getting – there’s always ...

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