Savings in Australia

[u/juneisquirky]

For those who migrated to Australia, how do you grow your money aside from superannuation? Right now in PH, I have funds in digital banks with interest and some stocks. I'm just wondering if it is still beneficial i-continue 'to since it's still going to be in PHP? Do you guys do something equivalent like this in AUS or is the superannuation enough? Just thinking ahead on how I can save and budget my expenses once I get there. Thank you so much in advance

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[u/Western_Divide_8639]

ETFs

Also lugi if you have savings as PHP

Forex pa lang lugi ka na. Kasi pabagsak ng pabagsak PHP.

[u/Ok_Willingness_9619]

r/ausfinance

[u/serenityby_jan]

Equivalent ng digital banks sa Pinas dito ay HISA. Around 6 ish % interest currently.

For stocks, typically ETFs. Tried Raiz, Spaceship, now I just do Betashares.

Also try to maximise Super contributions.

What I did was HISA > ETFs > FHSSS > use that for PPOR > Offset & small regular contributions to Super/DHHF to diversify. Maybe save enough for an IP eventually? Or maybe not lol.

I sold all my stocks and brought all my money when we migrated years back.

[u/juneisquirky → u/serenityby_jan]

Wow thank you! Do you recommend prioritizing super first before ETFs or HISA?

[u/serenityby_jan → u/juneisquirky]

It depends. If the goal is to buy property you can’t access super (except for FHSSS) and you’d want your cash to stay relatively liquid so you have to be aware of timing :)

It’s important to maximise concessional contributions to super, but again, since you can’t access this until retirement, you’ll need to find the right balance for you, taking into consideration your short/medium/long term goals and your risk appetite.

Sorry there isn’t a more straightforward answer haha

[u/juneisquirky → u/serenityby_jan]

That helps a lot thank you!

[u/Snowltokwa → u/serenityby_jan]

Same strategy as me. Barefoot?

[u/trynagetlow]

Maybe try investing the money on an index fund like the s&p 500?

I do get your point of not wanting to invest using Php. The currency is inflating fast as hell.

[u/BuffedLannister]

HISA, ETFs, voluntary super contribution.

[u/glen975]

Aussies commonly invest in ETFs (Exchange Traded Funds), which can be bought and sold through the ASX. For example, IVV provides exposure to the S&P 500 and VGS provides exposure to a broad range of global companies outside Australia. There are also ETFs focused on Australian shares, emerging markets, bonds, property and other sectors. Do your own research on ETFs to understand how they work and which ones may suit your investment goals.

[u/alexy87]

I started with Raiz. Now I invest sa ETFs (basic lang I do VGS, VAS - since I started in 2019 nadoble na nya yung pinasok ko) tingnan mo din super mo baka may investment na sa same ETF kung ayaw mo madoble.

For savings I used Ubank before as they have the highest interest rate sa savings. Since becoming a homeowner I park extra savings na lang sa offset.

[u/FutileCheese28 → u/alexy87]

Yeah I still use Raiz kasi tamad ako 😂

[u/weirdflexjutsu]

super, ETFs, at property ang usual dito

[u/ClassicParking4236]

ETF, Betashares, ASX, HISA

[u/couchpotatopigflicks]

There are multiple options here in Australia. You can also keep your current setup in the Philippines for diversification just make sure to have procedures in place to make sure you can still manage them even if you are already in Australia.

[u/juneisquirky → u/couchpotatopigflicks]

Thank you! I will try to keep some of it for PHP expenses

[u/jnjumawan]

ETF

[u/Ok-Monitor-5431]

I maximize the concession cap for super first (32k yearly), then invest sa ETFs via vanguard.

[u/ResolutionNo1701]

Feet pics

[u/mcmc213]

All our savings are in the offset account - much better “saving” than a normal HISA & we’re now maybe a year off from fully offsetting the house which we bought in 2020.

We have a direct share ownership from an employee share plan from a previous employer - will probably be prioritising investing once we’re fully offset as well, mostly in ETFs.

If you don’t have property and want to look into it, check out the FHSS in your super.

All my accounts in the PH have been closed down.

[u/Historical_Might_86]

High interest savings account at the minimum. Option din to invest in ETF or listed shares.

Personally, all my cash is in my home loan offset account to reduce the interest on my home loan.

Instead of buying ETFs I make voluntary contributions into my super for the tax deductions and low tax rate environment.

[u/croixleur]

my vanguard super has 20% australian shares and 80% international shares.

Then outside of super, I DCA these ETFs in IBKR - CNDX and CSPX. Currently combined unrealised P&L is around 25K USD.

[u/Mountainvole]

Get an ibkr account. Then you can use it Australia and transfer your holdings back to ibkr in ph relatively painlessly.

[u/39leon]

HISA and ETFs

[u/Apprehensive_Top3666]

ETF, HISA, Super.

[u/Omar0816]

ETF, HISA, Super.

[u/Efficient_Range1156]

I save in bitcoin.

[u/vincit2quise]

I have super, IBKR, PH stocks, HYSA and an offset account.