Anyone looked at their savings account lately ?

[Evans Electric]

Just checking a bank statement online  ...Hmmm whats that small amount thats gone in on the last two months ...OMG!  Its the interest on my savings account , just worked it out to be a magnificent 0.01% :_| :Godno: :swear: :needdrink:  

Are they taking the Part P or what ?

 

[steptoe]

:slap

Yes, they are,

I get a bonus of something like £3.50 every month for having my business account with them,

That's very good of them I hear you say,,  

Ah yes, it is, until,,,, 

Next day they charge me £6.80 for having my business account with them,

The mind boggles,,,

I give up,,,,,, :C

 

[Rob.]

Mine gives me £7 a month, but takes £3.50 for that privilege. 

Why bother putting 7 in to take back out, why not just call it £3.50, surely thats less work on their half. 

 

[ProDave]

We need a return of interest rates to 10%. Borrowers have had their turn at low rates, it's about time savers got a decent return again
 

 

[steptoe]

We need a return of interest rates to 10%. Borrowers have had their turn at low rates, it's about time savers got a decent return again
 

You'll never sell your house then Dave,!!!

Think of all the reposessions ,?

The country will be flooded with houses where people couldn't keep up their payments,

No one will be able to buy anything costing more than £12.74

And we'll all be living in slums,

 

[Blue Duck]

haven't looked in my savings account...

There's nothing in there, it's like prodave's  wallet when it's his turn to get the drinks in...  :tongueincheek

The economic downturn has decimated my savings and now I'm one of these JAM's Mrs May is on about, something big happens like the roof collapses and I'm courgetteed financially.

@Rob.

The reason they give you £7 and charge you £3.50 for using the services they provide is that this is "up in the air money", money which is essentially in transit on which the banks will earn a tiny weeny bit of interest but multiply this by several million customers over a few days and they make a decent amount for nothing other than being slow and ****.

Why are we in this mess?

I'll let Frankie explain: (NSFW)

https://youtu.be/GtWA3jQN1Pg

 

[Murdoch]

Just checking a bank statement online  ...Hmmm whats that small amount thats gone in on the last two months ...OMG!  Its the interest on my savings account , just worked it out to be a magnificent 0.01% :_| :Godno: :swear: :needdrink:  

Are they taking the Part P or what ?

Move all the money into Premium Bonds ..... sure you may not win, but a gamble with your money 100% safe is far better than 0.01% interest!

We need a return of interest rates to 10%. Borrowers have had their turn at low rates, it's about time savers got a decent return again
 

ALL the time Governments pursue quantitative easing, the banks don't need our money....

 

[Murdoch]

I have premium bonds from when i was born, over 49+ years back now, never seen a penny back on them.......

How many have you got?

 

[roys]

I got a £5 premium bond in 1970 it paid out £50 about 15 years ago.

 

[Murdoch]

About 10

Maybe buy some more?

I buy premium bonds every month as my way of saving for my tax bill. Last summer I had about £5 k in bonds and won £25 so not a great return but at about 0.5% it was better than a savings account I have!

 

[binky]

Move all the money into Premium Bonds ..... sure you may not win, but a gamble with your money 100% safe is far better than 0.01% interest!

 this is one of the main drivers of Solar PV, even at todays lettuced FiT rate a good installation is still worth about 10% on your money invested. Down side is you can't get your money back.

Gambling, isn't that what the bankers did with or money? And the savers have paid the price!

 

[roys]

You could buy Shell or BP shares, 6 to 7 % return (dividend) per year, and your capital is still there, of course it varies as the share price varies.

Warning share prices can go up or down and they are only one disaster away from the share price and dividend crashing.

 

[binky]

And good PV is pretty stable....not going to retire on the income though.

 

[Murdoch]

You could buy Shell or BP shares, 6 to 7 % return (dividend) per year, and your capital is still there, of course it varies as the share price varies.

Warning share prices can go up or down and they are only one disaster away from the share price and dividend crashing.

Precisely why I won't buy shares to save for my tax bill!

Just imagine your shares crashing today and your bill due to pay by next Tuesday - talk about being up the creek without a paddle!

 

[binky]

shares should always be considered as a long term gamble. I do find it interesting how the our long term savings have perked up since the devaluation of stirling

 

[roys]

Precisely why I won't buy shares to save for my tax bill!

Just imagine your shares crashing today and your bill due to pay by next Tuesday - talk about being up the creek without a paddle!

Correct, you wouldn't buy shares with money you are going to need in the short term, but getting a wee lift every 3 months (dividend) from a long term savings point of view certainly helps out.

 

[misssweden]

Precisely why I won't buy shares to save for my tax bill!

Just imagine your shares crashing today and your bill due to pay by next Tuesday - talk about being up the creek without a paddle!

I do a couple of different sharesave schemes through work and I see them as an alternative to putting money in my savings account. The way they work is that if the share price drops when the scheme matures then I get back what I put in. So I have nothing to lose really as the interest I would have earnt on it from sitting in a savings account would barely be enough to buy me a packet of chewing gum. 

 

[rapparee]

For some reason one of the apprentices linked me to this image of a mattress today. 

I must say it is comfortable.

 

[Sharpend]

For some reason one of the apprentices linked me to this image of a mattress today. 

I must say it is comfortable.

Thats the poundstretcher mattress :coat