Where Should I Put My Money?  

The most common question we are asked as financial advisors is, ‘Where should I put my money?’ or ‘Where should I put my savings?’ Both are excellent questions with slightly different variations

What you’re really asking is how can you make your savings work for you and how should you organise the money that churns through your transactional accounts paying for your day-to-day living expenses 

where should I put my money

In this article we will discuss, we will address the first question through the following: 

  • Why you should think about where you keep your money.  
  • Where to put savings to maximise their growth.  
  • How a financial advisor can support you to grow your wealth.  

Why Does It matter Where I Put My Money?

When advisors talk about where to put your moneythey aren’t speaking in a physical sense such as in your bank account or under a mattress. They are referring to where you should invest your money and grow your wealth. Rather than leaving your hard-earned money to languish in an account that earns you minimal interest, you can put it to work, helping you progress towards a more secure financial future.

There is no hard and fast rule saying you have to put your money anywhere other than your chosen bank account. However, thinking about how you store your savings can help you grow them without much effort. There are so many options for where to put your money.

While a high interest-earning account is a common choice, in times of low-interest rates, it isn’t the most effective strategy. In fact, during periods where you earn little or no interest on your savings, your money will actually be worth less due to inflation. 

This is why it pays to make smart decisions about where to put your savings. So where else should you consider placing your money?  

where to put savings

Where to Put Your Cash Now For Maximum Growth into the Future 

Thankfully, there are a wide range of ways to keep or invest your money and grow your wealth:   

Certificates of Deposit 

Certificates of deposit (CDs) or term deposits are available through banks and credit unions. They offer higher than usual interest rates, which often become even more favourable depending on the amount you deposit and the length you are willing to leave it untouched. Investment periods range from 6 months up to 5 years and can net you significant returns.

There are high penalties should you break the term in advance of the agreed date however, so consider this carefully before putting your savings in a term deposit.  


Shares are another way in which you can grow your savings. Investing in shares represents a higher risk than other strategies but can also grow your money rapidly. Before investing in shares, it is recommended to research your options thoroughly and speak with a qualified financial advisor for guidance.   


Considered a low-risk strategy, bonds are essentially a loan given to a company, state or government body as a fixed rate of interest for a set term. At the end of the term, the original sum, plus interest is repaid in full. Similar to term deposits, bonds levy high penalties should you request the funds returned ahead of the agreed end date, so invest carefully.  

where to put cash now

Mutual Funds 

A mutual fund pools funds from multiple sources to invest in securities such as stocks and bonds. This helps to minimise the overall costs of investing and diversify the investments while reducing risks and maximising the potential for high returns. Essentially you become a shareholder in a fund that owns multiple securities.    


Property is easily one of the most well-known and popular ways to invest. While it does have a higher entry price than other options, the long-term capital growth can make it seriously worthwhile for those who have the means to buy-in.  

When to Speak to A Financial Advisor 

If you’re looking for ways to grow your wealth but feel unsure about which strategy you should place your hard-earned savings intoCollins Mann can help. Our dedicated financial advisors work with you to provide high-return investment options that make knowing where to put your money, easy.  

Whether you’re wondering where to put retirement money after retirement, or working towards a retirement strategy, we can help you secure your financial future. Successfully grow your savings with Collins Mann.

We can help you answer the question, ‘Where should I put my money?’. Call today on 07 3251 3200. 


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  • Values-based financial planning.
  • Wealth accumulation strategies.
  • Tax-effective strategies.
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  • Retirement planning.
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