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FrozenOut

First Direct Cut Saving Rate

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Its now a frequent theme but in all honesty what the f*** happened to savers and responsibility? When I was a wee lad and I first joined a building society and a bank I was given a piggy bank and a savings book which I dutifully filled each week with coppers and ink deposit transaction respectively. Now it seems all in vain yet my family and grandparents constantly and positively encouraged it. Although every now and again I would cheekily fish out a precious 50pence piece out of my piggy bank to buy some 1penny chews and a 20p pick and mix my pig was always near full and eventually cash in my savings into my account. But whats gone wrong? Why after years and years of decidation are my hard fought savings near worthless? Should I have been speculating at the age of 8 when my parents always told me to save? Do they even have young savers accounts these days and do they bother giving out piggy banks anymore? I am interested and maybe a parent could answer. I remember saving with, I think, Tufty and co and other cartoon characters, but is there anything like that today?

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Its now a frequent theme but in all honesty what the f*** happened to savers and responsibility? When I was a wee lad and I first joined a building society and a bank I was given a piggy bank and a savings book which I dutifully filled each week with coppers and ink deposit transaction respectively. Now it seems all in vain yet my family and grandparents constantly and positively encouraged it. Although every now and again I would cheekily fish out a precious 50pence piece out of my piggy bank to buy some 1penny chews and a 20p pick and mix my pig was always near full and eventually cash in my savings into my account. But whats gone wrong? Why after years and years of decidation are my hard fought savings near worthless?

i cant see it even now in the ghostly viel of the cataracts within my eyes. the golden suns, the rippling warm waters of the local stream. the everlasting highland toffee chews and the endlessly peeling scabby knees. bay city rollers via an old transistor. a rope swing and a burned out vauxhall viva estate.

these were braw times for a young hibs supporting dundee casual in motherwell....

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Its now a frequent theme but in all honesty what the f*** happened to savers and responsibility? When I was a wee lad and I first joined a building society and a bank I was given a piggy bank and a savings book which I dutifully filled each week with coppers and ink deposit transaction respectively. Now it seems all in vain yet my family and grandparents constantly and positively encouraged it. Although every now and again I would cheekily fish out a precious 50pence piece out of my piggy bank to buy some 1penny chews and a 20p pick and mix my pig was always near full and eventually cash in my savings into my account. But whats gone wrong? Why after years and years of decidation are my hard fought savings near worthless? Should I have been speculating at the age of 8 when my parents always told me to save? Do they even have young savers accounts these days and do they bother giving out piggy banks anymore? I am interested and maybe a parent could answer. I remember saving with, I think, Tufty and co and other cartoon characters, but is there anything like that today?

Shaker,

You may be missing what's going on here...devaluation of your/our money. It could be better to put your money into an asset of some sort be it shares, gold or even <clear throat> property. IMO a savings account is a poor place to put your money these days, which is why I'm staying light on cash.

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Yes...I too have lost my patience with the savings accounts reducing interest rates.

As Al Swearengen (Deadwood) would say..."C*cksuckers!".

Have u-turned on my decision to leave £4k in there that I could put into my shares isa for 06/07 in the last day.

Shares have shown spectacular returns in the last couple of years to me so I'll continue pumping my allowance in. The comparison with my savings accounts is tragic.

Eventually the bull run in shares will end (and reverse?) but it looks to me that there is still plety of growth possible with the right companies.

I've a year before I'm buying a house so its time to try and grab as much loot as possible and savings accounts are not the way, especially if HPI increases.

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Yes...I too have lost my patience with the savings accounts reducing interest rates.

As Al Swearengen (Deadwood) would say..."C*cksuckers!".

Have u-turned on my decision to leave £4k in there that I could put into my shares isa for 06/07 in the last day.

Shares have shown spectacular returns in the last couple of years to me so I'll continue pumping my allowance in. The comparison with my savings accounts is tragic.

Eventually the bull run in shares will end (and reverse?) but it looks to me that there is still plety of growth possible with the right companies.

I've a year before I'm buying a house so its time to try and grab as much loot as possible and savings accounts are not the way, especially if HPI increases.

But if you think about it, what have you to get angry about? Your shares are out performing savings by a long shot, the market may reverse but there is little indication that it will at the moment. The discussion kind of ties in nicely with debates on IO mortgages and money purchase pension schemes, if used right I think a person could come out of it in a strong position.

In a way the whole debate about when/if it will crash may just boil down to when the M4 & M3's start contracting. While they are expanding at the current rate of knots, I intend to stay light on cash.

All IMO of course.

:)

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But if you think about it, what have you to get angry about? Your shares are out performing savings by a long shot, the market may reverse but there is little indication that it will at the moment. The discussion kind of ties in nicely with debates on IO mortgages and money purchase pension schemes, if used right I think a person could come out of it in a strong position.

In a way the whole debate about when/if it will crash may just boil down to when the M4 & M3's start contracting. While they are expanding at the current rate of knots, I intend to stay light on cash.

All IMO of course.

:)

I'm not angry...just been watching too much "Deadwood". :lol:

Noone likes interest rates being reduced though. It's a kick in the goolies for 'savers'. But to be Buddhist about it, it has encouraged me to invest again this year and if I do well out of the next stock then in a funny way I'll thank the banks for encouraging me to leave them with less dough.

I was too young/too poor and so missed out on the HP boom. There is no way I am missing out on the stock boom going on. ;)

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  • 302 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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