Is it better to pay off all my debts, or keep the debts and invest the money I would have paid them off with? [more inside]
posted by Jimbob on Jan 11, 2007 - 24 answers

My parents used to tell me fantastic tales, that back in the day (being the 1950s), banks offered interest rates on savings accounts upwards of 10%, with almost no fees and charges. In comparison, my current bank (in Australia) offers me 0.5% interest, which is completely countered by about the first hour's worth of monthly charges. This is despite the bank being more efficient, having fewer employees, and having greater access to global capital. Can anyone tell me, if the global economy is really doing so great these days, why are savings / investment interest rates so abysmal in comparison to the past? Will this ever turn around again in the future?
posted by Jimbob on May 30, 2004 - 15 answers