What should I do with my money?
Edit: I a in the United States, seek advice from someone who is also in Australia.  I am getting about 5.5% per year by investing in a fund (ticker:PGF) that, in turn, buys preferred stock in banks. Preferred stock acts a bit like a bond and a bit like a stock.  The price is very stable. However, a bank account is FDIC insured (in the USA) and an investment is not. I use the Reinvestment program at Scottrade so that the monthly dividends are automatically reinvested with no commission. However I do not know if this is available outside of the United States.  Investing yealds greater returns but exposes you to greater risk. You have to know your risk tolerance.
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What should I do with my money?

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Edit: I a in the United States, seek advice from someone who is also in Australia.  I am getting about 5.5% per year by investing in a fund (ticker:PGF) that, in turn, buys preferred stock in banks. Preferred stock acts a bit like a bond and a bit like a stock.  The price is very stable. However, a bank account is FDIC insured (in the USA) and an investment is not. I use the Reinvestment program at Scottrade so that the monthly dividends are automatically reinvested with no commission. However I do not know if this is available outside of the United States.  Investing yealds greater returns but exposes you to greater risk. You have to know your risk tolerance.