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Mr_Sminty

Pratical Steps To Safeguarding Deposit

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Okay interest rates either remain static or fall, you can use whatever fricking inflation rate you like, but prices and living costs etc are relentlessly marching forward.

Whats the best way or any ideas on how to simpliest menthod of maintaing or beating inflation for deposits. Practical methods for your avg Joe would be most useful i.e. no well short on the pound via Gold future CFd's against an upturn in the Yen etc.

Currently I have my savings deposit of 3k in a mini share isa which has grown about 10% since April, but this could obviously be wiped out!

On a monthly saving basis where can one stash money most effectively, is the answer simply put savings into a 4.5% Cash ISA to try and beat inflations? What are peoples approaches?

Thanks

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correct me if i'm wrong but if house prices are falling in real terms, then it doesn't really matter, your deposit will be able to buy a larger proportion of the value of the house,

you only really need to worry if house prices and inflation rise together, but at the moment they are going opposite directions

can anyone clarify that?

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correct me if i'm wrong but if house prices are falling in real terms, then it doesn't really matter, your deposit will be able to buy a larger proportion of the value of the house,

you only really need to worry if house prices and inflation rise together, but at the moment they are going opposite directions

can anyone clarify that?

I high interest notice savings account? You might get about 5.4%. MoneySavingExpert have articles on them, with best buys etc. Though you'll pay tax on the interest since your mini-isa is full for this year. (I never under stand the maxi isa thingy though, so that might be an idea too).

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correct me if i'm wrong but if house prices are falling in real terms, then it doesn't really matter, your deposit will be able to buy a larger proportion of the value of the house,

you only really need to worry if house prices and inflation rise together, but at the moment they are going opposite directions

can anyone clarify that?

As long as house prices are rising more slowly than the after tax interest on your deposit then you'll be getting ahead (slowly) with money in the bank. If house prices are actually going down then that just means you're getting ahead more quickly.

It's only if they're going up at a decent pace that there's a problem.

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As long as house prices are rising more slowly than the after tax interest on your deposit then you'll be getting ahead (slowly) with money in the bank. If house prices are actually going down then that just means you're getting ahead more quickly.

It's only if they're going up at a decent pace that there's a problem.

which they are not, and not likely too, with wage inflation fairly depressed and unemployment on the up, together with the economic problems this country is facing at present.

good old labour

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i want invest in gold but have no idea how to it without incurring large costs?

Anyone any idea?

Not sure what the stock code is in the UK (in Australia it's GOLD) but you can invest in gold metal through the stock market.

You won't physically get your gold, it's stored in a vault so this may not be suitable if you're worried about a complete financial meltdown. But apart from that, it is an investment in gold.

Even though it is traded on the stock market, you are investing in physical gold NOT mining company stock or something else. So it won't go out of business.

To do it you'll need an account with any stock broker. You could use a cheap online broker. If you have no interest in stocks apart from this single gold investment then there's no need to be too fussy about which broker you use. You'll only be paying their fees twice (once when you buy, again when you sell) and won't be needing charts etc. If you also want to buy other stocks then do some more research to find a decent broker.

Another option (at least in Australia but I think this can be done internationally) is Perth Mint certificates. Basically you are investing in physical gold bullion via a program run by the Perth Mint (Oz). It seems to be the best regarded scheme of its type in the world to my understanding. They do coins, bars etc. too. www.perthmint.com.au There might be something similar based in the UK but I'm not sure.

I am not advising anyone as to whether or not they should buy gold. I'm just pointing you in the direction of what to do for those who have already decided to invest in it but don't know how.

Edited by Smurf1976

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There are also places like goldmoney.com: you pay something like 1% over the spot price when you buy gold and then they'll stick it in a vault for you.

Of course I still haven't got around to activating my account there with the paperwork they wanted, so I don't know whether they're trustworthy. I should do that :).

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There are also places like goldmoney.com: you pay something like 1% over the spot price when you buy gold and then they'll stick it in a vault for you.

Of course I still haven't got around to activating my account there with the paperwork they wanted, so I don't know whether they're trustworthy. I should do that :).

If you want to avoid sending GoldMoney all the paperwork they require, you can buy GoldMoney via http://www.londongoldexchange.com/.

They allow you to pay in cash at the Post Office.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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