Jump to content
House Price Crash Forum
Sign in to follow this  
beefheart

Where Is Safe For My Cash?

Recommended Posts

MY STORY :

Ive nearly sold. I put up my 2 bed semi in march and am selling at 136,000.

I bought for 72,000 and now owe 65,000.

I should have about 70,000 all in.

Where do I put my capital?

Will it be safe with the UK banks in the near future?

Which banks will go under due to the market unwinding?

Where the **** can i put my dough without being fleeced?

I just want a nice interest earning account that will look after me stash :-)

sorry if i seem dumb or paranoid but i have little confidence in the banking system.

Share this post


Link to post
Share on other sites
MY STORY :

Ive nearly sold. I put up my 2 bed semi in march and am selling at 136,000.

I bought for 72,000 and now owe 65,000.

I should have about 70,000 all in.

Where do I put my capital?

Will it be safe with the UK banks in the near future?

Which banks will go under due to the market unwinding?

Where the **** can i put my dough without being fleeced?

I just want a nice interest earning account that will look after me stash :-)

sorry if i seem dumb or paranoid but i have little confidence in the banking system.

National savings and investments.

Index-linked bonds.

Premium bonds.

ISAs

All tax free. Only goes bust if the UK government does.

frug.

Share this post


Link to post
Share on other sites

Set up the accounts ready now.... I've had hell trying to set up accounts after selling.

Mind you, that's mainly because I am in temporary accommodation/moving about and so having to declare my address as my parents' address... so then mail is being forwarded to me every fortnight from there.

If I'd known it would be so hard to set up accounts/receive their initial letter/send stuff back etc etc... I'd have set up accounts before I sold, even if they only had £1 in them.

Share this post


Link to post
Share on other sites
MY STORY :

Ive nearly sold. I put up my 2 bed semi in march and am selling at 136,000.

I bought for 72,000 and now owe 65,000.

I should have about 70,000 all in.

Where do I put my capital?

Will it be safe with the UK banks in the near future?

Which banks will go under due to the market unwinding?

Where the **** can i put my dough without being fleeced?

I just want a nice interest earning account that will look after me stash :-)

sorry if i seem dumb or paranoid but i have little confidence in the banking system.

All the Major High Street Banks will survive and anyway you are insured upto £30 something `000 open two account with two different banks and your insured twice as long as they are not the same bank trading under different names

Edited by tackle2004

Share this post


Link to post
Share on other sites
All the Major High Street Banks will survive and anyway you are insured upto £30 something `000 open two account with two different banks and your insured twice as long as they are not the same bank trading under different names

I'll second that, no major UK bank is going to go under. Use up your tax free allowances and then put the rest with one or two of the big names, something like:

premium bonds - 30K

index linked tax free NS bonds - 15K (you can put 30K in total in if you tie some up for 5 years)

government bond ISA - 7K

HSBC online saver - 9K

Nationwide e-Savings - 9K

- edited spelling

Edited by tbatst2000

Share this post


Link to post
Share on other sites
All the Major High Street Banks will survive and anyway you are insured upto £30 something `000 open two account with two different banks and your insured twice as long as they are not the same bank trading under different names

But why take the risk? Put some money with NSANDI, if the government becomes unstable assets should be cheap by then anyway. Be prepared to keep a stash of cash on hand in a safe place if everything turns to s**t.

Share this post


Link to post
Share on other sites
Guest d23
MY STORY :

Ive nearly sold. I put up my 2 bed semi in march and am selling at 136,000.

I bought for 72,000 and now owe 65,000.

I should have about 70,000 all in.

Where do I put my capital?

Will it be safe with the UK banks in the near future?

Which banks will go under due to the market unwinding?

Where the **** can i put my dough without being fleeced?

I just want a nice interest earning account that will look after me stash :-)

sorry if i seem dumb or paranoid but i have little confidence in the banking system.

tinned food, dried fruit, crossbow, flak jacket, cowry shells, gold sovereigns, tin foil (enough for hats for you and your nearest and dearest), oxo cubes, Flintstone type pedal powered car.

Share this post


Link to post
Share on other sites

Don't worry about your bank.

What you need to do is keep a large pile of casah available for jumping back into the markets when everything settles down.

What you need to look for is companies with high profits and low assets (not market value, assets), See here to pick some.

Look for high profit / asset ratios.

After all this is an asset bubble. Things like intellectual property rights, patents, technological knowledge etc... will survive the rout.

Companies like Microsoft, IBM, Cisco, Johnson & Johnson, Pfizer all have intellectual property. Wal Marts distribution system is a valuable commodity that has not been inflated by asset inflation, it is under priced.

All the oil majors have highly undervalued technological knowledge and will be excellent bets.

I would take a holiday first though, but this is the investment strategy I will be using following the fall out.

Share this post


Link to post
Share on other sites
But why take the risk? Put some money with NSANDI, if the government becomes unstable assets should be cheap by then anyway. Be prepared to keep a stash of cash on hand in a safe place if everything turns to s**t.

If you that worried about things better ask my boss that I only take cash as payment for any work in future, If high street banks go whoops do you think the FSA is going to have enough to go round.

Can anybody remeber a High Street Bank going to the wall

NO so nothing to see here move on

Share this post


Link to post
Share on other sites
If you that worried about things better ask my boss that I only take cash as payment for any work in future, If high street banks go whoops do you think the FSA is going to have enough to go round.

Can anybody remeber a High Street Bank going to the wall

NO so nothing to see here move on

I think we possibly have great depression2 starting here never mind great crash2

The whole world economy is very unbalanced.

The chinese are constantly threatening to dump the $.

Share this post


Link to post
Share on other sites

What about banks run by supermarkets eg Tesco & Sainsbury.

Would it need the supermarket business going bust before someone would lose their cash?

Or is the bank a completely separate operation which could go under independently of the main supermarket, with only the £35k deposit protection scheme available to savers?

Share this post


Link to post
Share on other sites
What about banks run by supermarkets eg Tesco & Sainsbury.

Would it need the supermarket business going bust before someone would lose their cash?

Or is the bank a completely separate operation which could go under independently of the main supermarket, with only the £35k deposit protection scheme available to savers?

tesco is run by RBS

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 353 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.