10 celebrity gifts you won't be getting this Christmas

10 celebrity gifts you won't be getting this Christmas

With the season of giving upon us you may be feeling more generous than usual when purchasing gifts for your loved ones. But chances are you’ve never felt as generous as these celebs.

To celebrate the holiday season RateCity has compiled a list of ten of the most expensive celebrity gifts ever given. But remember, it’s the thought that counts so don’t go digging into your savings account just yet.

One

A helicopter – Angelina Jolie bought husband Brad Pitt a $1.6 million dollar helicopter and flying lessons to compliment the new heli-pad at their mansion. The occasion? When you have as much money as these two there’s no occasion needed.  

Two

Crystal-encrusted baby bath tub – Singer Kelly Rowland purchased the extravagant tub for almost $5000 to give to bestie Beyoncé before the birth of her first child Blue Ivy. Keeping in mind that Beyoncé has some of the richest friend’s in America we imagine it would have been one hell of a baby shower.

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Three

Bugatti Veyron Grand Sport – Beyoncé herself is quite the giver, purchasing this $2 million dollar car for her hubby to commemorate his 41st birthday. What do you get for the man who has everything, right?

Four

Fully functioning playhouse – One for the kids, Suri Cruise was gifted a $24,000 two-story playhouse by mum Katie Holmes for Christmas. The playhouse included a fully functioning plumbing system and electricity and was certainly not from the local toy store.

Five

Customised Birkin bag – For Kim’s birthday last year Kanye gifted her a $16,000 Birkin bag customised by their two-year-old daughter North. The bag featured a once off finger painting by the young artist that is truly priceless.

 

Kim Kardashian

Six

Bulgari necklace – Whilst jewellery is a common gift exchanged between partners $8 million necklaces are a little rarer. Unless you’re a Beckham of course. David gave his wife Victoria the extravagant piece for Valentine’s Day as the ultimate expression of love.

Seven

Lamborghini Spyder – Diddy proved to be a man of his word when he gave the $200,000 car to Justin Bieber for his 16th birthday. He had reportedly promised the car to the then teen when he was old enough to drive and true to his word handed the keys over for the occasion.

Eight

A mansion – Taylor Swift gifted her parents a mansion in Nashville, Tennessee for $1.4 million showing her generous side. With Swift’s earnings for 2015 at approximately $100 million the purchase would have hardly made a dint in the star’s bank account.

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Nine

Cartier Trinity ring – Keith Urban bought wife Nicole Kidman the $73,000 Cartier Trinity ring to celebrate the birth of their first child Sunday Rose. The ring was reportedly symbolic of their expanding family with the three entwined bands representing mum, dad and baby.

Ten

A trip to space – One of the wackiest celebrity gifts has to be Katy Perry’s gift to then hubby Russell Brand. Perry paid $200,000 for a ticket to space on the Virgin Galactic maiden voyage. Perhaps not something on everyone’s Christmas list this year (or ever) but an extravagant gift nonetheless. 

Katy Perry and Russell Brand

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How to open a savings account for my child?

Some banks and financial institutions allow parents to open a bank account for their child as soon as it is born, and start depositing funds to go towards the child’s future.

Children’s savings accounts generally don’t have fees, and are structured to help develop positive financial habits by limiting withdrawals, encouraging regular deposits, and earning interest on the savings, similarly to standard savings accounts.

What is a savings account?

A savings account is a type of bank account in which you earn interest on the money you deposit. This makes it one of the easiest and safest investment tools.

Can you have multiple ING savings accounts?

Yes, you can open up to nine accounts with ING at any particular time. If you’re saving money for various goals, such as buying a car or taking a holiday, you can name each of your multiple ING savings accounts differently.

To get a Savings Maximiser account, you’ll need to deposit more than $1000 every month and make at least five additional purchases. If you also want to grow your savings, from 1st March 2021, you can earn up to 1.35 per cent per annum variable interest on one account with a balance of up to $100,000 when you also maintain an Orange Everyday account.

With ING, multiple savings accounts can help keep track of all your savings goals. All the accounts offer flexible withdrawals where you can withdraw as low or as high as you want without impacting your earning interest rate. However, you can only earn the bonus interest on one account. To apply for a Savings Maximiser account, you can visit ingdirect.com.au.

What is an ANZ locked savings account?

An ANZ locked savings account locks your money and prevents you from spending. You may use a standard savings account as the account where your salary is deposited. You can then withdraw funds when needed, but aren’t able to make purchases with it. However, this account may not grow much as the continual withdrawing of funds will limit the interest you can earn.

With a locked savings account in ANZ, you know your savings will grow because you can’t access the money. You can also qualify for a bonus when you deposit at least $10 per month and don’t make any withdrawals. To help you with this further you can set up an automatic transfer from your regular ANZ savings or transaction account so you don’t forget to make a monthly deposit.

Your ANZ locked savings account offers you a base interest rate of 0.1 per cent per annum plus an additional bonus interest of 0.49 per cent per year. The interest is calculated daily and credited to your account on the last working day of the month.

How to make money with a savings account?

Savings accounts make you money by earning interest on your savings. The more money you deposit, the longer you leave it in the account, and the higher the account’s interest rate, the more interest you’ll be paid by the bank or financial institution, and the more your wealth will grow.

To make sure your savings account makes money and doesn’t lose money, it’s important to maintain a large enough minimum balance that the annual interest earned exceeds any annual fees charged on the account.

How much money should I have in my savings account?

A good rule of thumb when working out a minimum balance for your savings account is to make sure that you’ll earn more in annual interest on your savings than what you’ll be charged in annual fees.

If you’re saving with a specific goal in mind, prepare a budget so the interest you earn on your deposits will help you efficiently reach this goal. Online financial calculators may be helpful here.

What are the two types of NAB locked savings accounts?

With a locked savings account in NAB, you can earn bonus interest and learn financial discipline. NAB offers two types of locked savings accounts, each with their own terms and conditions.

The NAB Reward Saver account pays a variable base interest rate of 0.05 per cent per annum and a bonus interest of 0.55 per cent. You’re eligible for the bonus if you make a minimum of one deposit on or before the second last banking day and have no withdrawals in the month.

Meanwhile, the NAB iSaver account provides 0.05 per cent as the standard base interest rate and a fixed bonus margin of 0.55 per cent during the first four months from the date of opening the account. You can park your cash in the account and enjoy unlimited monthly transfers between linked daily bank accounts without impacting the interest rate.

Should I open a Commonwealth locked savings account?

If you have trouble saving money, a Commbank locked savings account could be a potential solution. A locked savings account won’t let you make withdrawals and as such, it can help you grow your savings balance if you keep topping it up. 

The Commonwealth locked savings account advertises high-interest rates and minimal maintenance fees, along with a host of other incentives that will encourage you not to touch the money. 

The account offers a higher interest rate for each month that you make limited or no withdrawals, as well as regular deposits. 

To qualify for a Commonwealth locked savings account with the advertised features, you will need to fulfil specific criteria such as:

  • Depositing a fixed minimum amount into the account every month.
  • Making a fixed number of deposits each month.
  • Making a minimum or no withdrawals each month.
  • Maintaining a minimum account balance.

How do I open a savings account?

Opening a savings account is a relatively simple process. If you’ve found an account with a suitable interest rate, you’ll just need to get in contact with your chosen lender via a branch, phone call or hop online to begin the process. 

You may be required to provide:

  • Personal details, including identification (driver’s license, passport etc.)
  • Tax file number
  • Employment details

Can you have a joint savings account?

Yes. Joint savings accounts can be useful for two or more people wanting to combine their savings to meet shared financial goals, including spouses, flatmates and business partners.

Some joint savings accounts require all parties to sign before they can access the money. While less convenient, this extra security can help encourage all parties to meet their shared financial goals.

Other joint savings accounts allow any of the account holders to access the money. These accounts can be convenient for financially responsible couples that trust one another implicitly. 

Can you set up direct debits from a savings account?

It’s not usually possible to set up a direct debit from your savings account to cover ongoing expenses or bills, as savings accounts are structured around growing your wealth by earning interest on regular deposits, and discouraging withdrawals.

Some transaction accounts allow you to set up direct debits and also earn interest, though you may not enjoy as much flexibility as a dedicated transaction account, or get as high an interest rate as a dedicated savings account.

Can I overdraft my savings account?

A lot of savings accounts won’t let you overdraw. Some will allow this feature but you’ll need to apply first. It’s best to read the fine print and check with your lender whether this is a feature they offer. It can be a helpful addition, but as your lender can charge you a fee as well as interest for going into negative numbers, it’s best to avoid overdrafting when possible.

What is a Westpac locked savings account?

The Westpac locked savings account (also known as "Westpac Life") can help customers reach savings goals faster through bonus interest. Customers receive 0.2 per cent standard base interest with a variable bonus rate of 0.35 per cent when the closing balance at the end of the month is higher than the opening balance.

There are some conditions to earn the bonus interest on Westpac's locked savings account, though. First, you’ll need to increase the balance each month either through a deposit or not making any withdrawals, and then link it to a Westpac Choice account and make at least five eligible payments using your debit card. Please consult your bank as to what an eligible payment is. 

Can you direct deposit to a savings account?

Yes. You can make one off payments or set up regular direct deposits into a savings account. This can be organised easily through online banking or by making deposits in a branch. Talk to your lender to find out the easiest way for you to set up direct deposits.