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Everything posted by Rakno

  1. Carry trade in GBP - I am getting 9.5% on a 9 month fixed deposit in India with HSBC. The extra benefit is that GBP is weakening against the Rupee so its a double win at the moment. Fingers crossed it will at least stay par over the longer term, (1 to 2 years). I know a lot of Indiains living in the UK are doing the same. Hopefully, the UK won't introduce any exchange controls for a while.....
  2. Your comments above are typical of people in the west, you worry about how you will be perceived over trying to get the lowest price. Remember the golden rule of negotiation, if your first offer doesn't embarrass you, it’s too high!
  3. I have started car sharing with two other people at work and now we are all saving money. If fuel usage has really fallen by this much, there must be loads of other people doing the same. Before car share, we were each doing 60 miles a day, mainly motorway, each using about £200 of fuel per month, roughly £9 per day each to work and back driving normally. We now pay £55 each towards the fuel, which lasts for a month, approx. £2.5per day to work and back. We achieved this with not only sharing the journey, but also driving more carefully as saving fuel has become a bit of an obsession, (we s
  4. A few yers ago, she became my boss after being headhunted for the role. I handed my notice in after our first 1-2-1. Its amazing how far you can get in life not being that smart.
  5. LOL. My wife so wants to get them, but based on the comments on HPC, its never going to happen. I couldn't be in the same room with the twigs and not imagine a load of people pointing and laughing.
  6. Your post and the responses have been quite interesting. In my earlier career I had been responsible for making a lot of people redundant. I always approached my job with the mind set of never be scared of moving to another job/company, for what ever reason. This was because of the fear and stress I witnessed in the people that were about to loose theirs. They held on too long, stayed too long in one place and were scared of the outside world. This meant that if at any time, I thought my employer had the upper hand, i.e. I needed them more than they needed me, I would leave. This approach gave
  7. I am going to exibit my ignorance here, under the same Sharia Law, if the creditor can not claim the assets, shouldn't the defaulting debtor have his goolies cut off or something? And if the creditor is a female, be wipped and shot in the back of the head?
  8. Your good news has lifted my spirits, (I've been out of work since Apr 09 for the first time in my life), and feel desperate. I have no debt, so it is not as bad for me, but after receiving the 300th outright rejection, you start to question yourself. You start asking "why did anyone give me a salary if I am this useless?". The worst thing is to look at your wife and kids in the eyes every day, knowing that you cannot provide for them as you once did. It really changes you and your family can see your confidence and self respect ebbing away. I am glad your parachute opened in time as I frus
  9. A house, (under probate), on a nice plot came up for sale on Saturday for £625k. (Plan was to knock down and build a new home) I went to go and see it yesterday and found out I was the 11th person to view and another five bookings were arranged following my appointment. I put an offer in of 90% of asking price,(this already being 110% of what I think the place is worth but wife is desperate), and was told that they had ten other offers in excess of mine and they expect the final offer to exceed the initial asking price. I stressed that I am a cash buyer and the STR fund is ready to go within
  10. I glad you are on HPC, if nothing else, the Great British humour will keep me going through the next decade. Cheers
  11. The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens. I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst p
  12. I think it against the law to distroy legal tender. i.e the bank notes/coins actually belong to the BoE not you. Although it would help with deflation.
  13. I am in the same boat and have started the process. I have opened EUR, CHF, CAD and Indian rupee accounts with HSBC and am planning to use a third party with low commissions to transfer out of sterling. Is there an easier way? I thought futures market had a minimum of amount and I am scared of spreadbetting.
  14. I have split my STR fund between an amount that I could buy a comfortable house (for cash) at current market rate, and an amount that I need in a few years time. The spare amount is going to be converted to a mix of EUR, CAD, CHF and INR, on a equal basis. I think the GBP is going to tank and want to safe guard these funds for later. Anybody got any better ideas
  15. 1996 Aged around 26, I earned £35kp.a. with a company car. Bought a 4 bed detached in Berkshire for £135k mortgage of £90k. My wife stayed at home looking after a toddler and baby. One holiday each year and saving about £500 / month after all costs including going out. Very happy days. 2009 We STR in 2007 to a young family in very similar circumstance to us back in 1996, sold house for £385k.,Buyer takes out 95% mortgage, his salary being 55k and his wife's being £27k both working full time. Young kids back and forth between relatives and nursery etc. They are just about managing to
  16. Reading about the effects of QE, I confess, I am flummoxed. This is what I currently think QE is, BOE creates money out of thin air and then buys government bonds. This way, the government keeps running a deficit and doesn't have to go to the market, where it would have to pay higher interest/premium. But this excludes the normal banks (RBS, Barclay etc), which means they are not lending to Joe public. I am confused.
  17. I am an accountant and I can not for the first time in my life, find a job for love nor money. We are in a temporary calm before the massive fall. Labour have managed to convince a lot of people that things have bottomed out, but all they have done by lowering interest rates to a 300 years record, pumping QE and buying banks, is delay the crash by a few months. There are a lot of people who are going to be in real trouble shortly and that's when the recession starts properly. Nobody has fixed the core problem, i.e. the UK doesn't make enough to pay for our way in the world. Until we do, the
  18. I agree, I almost feel the recession is a cloud hanging over my head only. I haven't managed to get work now for 3 months and the prospects look bleak so I have cut back my spending drastically. But almost everyone around me is living it up as if nothing has happened.
  19. Age old accounting question which I get asked at every Board meeting. Accounting profit means you have more income than costs and in both cases, this can be accrued figures. i.e. you haven't paid the gas bill yet, but you know you have used the gas so will have to pay it in the future. This is a cost you accrue at the time you produce your accounts and the same works with income. The thing you are confusing is cashflow. You can have positive cashflow, (more cash coming in than going out), even if you make an accounting loss. You simply get your customer to pay quicker than you pay your suppli
  20. Deflation has hit me very hard. My last contract just ended and now it seems where I was pitching myself at £75-90k pa last year, the same jobs are being advertised at £50 - 60k now. Too make matters worse, I am not even being considered for these jobs as there are too many "better" candidates. So my income is nil at the moment and best I can hope/dream for is a job with a 45% reduction in salary; If you rinse and repeat this over the country, we have instant deflation in income, medium term rise in prices of food and energy and long term depression.
  21. I am from the Sikh community, (My parents are Sikh, but I am not at all religious), and property ownership goes back to India. Most Sikhs come from a class called JAT who own most of the land (used for agriculture), in the north of India. If you don't own land your status is very low in society. This belief has also followed them to the UK and there is pressure from the community for all families to own their own property. As soon as I turned 18, my dad forced/helped me to buy a house. Renting is a no no. When I STRed last year, many thought that I had lost my marbles. In addition to owning
  22. STRed in Jan 2007 and at the time felt bad for the buyer as he was a family "working class" man etc. However, I discovered during the sale process, he wasn't selling his existing home, (he was going to rent it out) and he was taking a great big mortgage to buy my house. I felt so bad, I actually told him that I thought prices might fall and asked "did he think it was a good decision to not sell his old house/buy new one?” He replied that property will eventually always go up and he was happy with prices falling in the short term. My guilt was washed away. I sold another property to an unemplo
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