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@hippy
Fixed rate cash ISA pref. rates = ~2.5% AER
My Aussie term deposits started at 8 dropped to 2 and went back up again to maybe 6%. I started them when I was a kid though (with parental help) and I'm a good saver. Trick is to have auto xfer just dribble monies into a savings account before you can spend it on drugs and midgets. I'd also do holiday work as a kid and drop half of it say into the "rainy day" savings account. Then you forget about it, buy stuff out of the normal account and all the while it grows.
Smarter people who want to watch numbers move around and shit can do shares - that kind of stuff bores me to death. I like the deposit and forget method.