Anybody on here silly enough to save money with the BWANKERS

[HowardQ]

I know we live in a world of low interest rates, unless you're a small businessman wanting a loan, then you'll probably pay low interest rates of 30%.
Or an ordinary person wanting a car loan, then probably nearer 10%.
Or you could be like my missus who has had an ISA for many years, saving for our retirement. Over the years this has accumulated to 20 odd thousand pounds. She got her annual statement today and was overjoyed, to find out she had 20 odd pounds interest, at a rate of a fraction over 0.1%.
Even better news though, this is "tax free", great!
What feckin point is there in saving with them just so they can charge ridiculous rates for loans and make massive profits for the top BWANKERS bonusses.
Gordon seriously screwed up he should have let some of them fail, the others might show a bit more interest in savers then.
Looks like we are going to have to go down the road of going for a change of ISA every year. Looked in the financial papers to check who is giving the best deal.
Nice to see that a new ISA with Santander (our current supplier) is the best we can get, offering 3.5%.
Price of loyality with BWANKERS -3.4%.
Are there any major problems if you change your ISA every year?

[snapdragon]

nottaclue
not my part of ship really, do have some saved in ISAs both cash and share and some in ordinary saving accounts with the bank which is spending and/or justincase money.
On the shiny side my mortgage is less than £50 a month now, and finishes this year

[BikerGran]

I put some cash in an ISA with a rate of about 3.5 at the time, it's gone right down now but the cash is staying there cos it's going to be spent anyway.

We don't have savings as such, but Mike and I both say that if we'd known then what we know now, we would never have put money into pensions but into easily stored and easily realiseable assets like watches and other small antiques.

[HowardQ]

Yeh, looking on the bright side, my mortgage finishes at the end of next year, perhaps we could use the interest off the savings to pay it up two days earlier. I really wish that was a joke.

To think at one time I had the stupid idea that the interest from savings would help supplement our pensions, now what can I do with a whole twenty odd quid spread over a year.
Could put almost half at tank of petrol in the wife's car I suppose.

[AJFalco]

If I had any savings I would put it in Premium Bonds. You never know, might win £50 or £1000000 (£50s better than £20odd)

[Willopotomas]

I've got a few hundred quid in Premium Bonds.. Won a few prises over the years two.. Including a couple £500 jobbies. I don't trust banks, never have done. The events of recent years have cemented my loathe for them. I've got a Building Society account, only have that for my wages to be paid in to and rent taken out of. Cash is king. As for investments, that'll be all sorts of things. Things that hold their value. Got a few bikes, a rare old Reliant Robin van and a few odd's n' sod's of gold stashed here n' there. On paper i'm worth nothing and don't have credit.. Everything is paid for upfront with the exception of the council tax and mobile phone.. Even the energy meters are pre-pay (were here when we moved in, suits me just fine!).

So, unless the arse falls out of the gold and classic markets.. I should be ok. Don't have a mortgage either..

[Nooj]

Best thing you can do with any savings at the moment is pay off your debts with them. Then when interest rates go back up, your debts will be less and so easier to pay off.

[HowardQ]

Excellent idea, I also try to save up in advance for things so whenever possible, I can pay cash and not borrow anything.

[Nooj]

I'm living off my savings at the moment (no more shiny bling for the Falco, not even petrol till I get some work in ) so my ISA has become second current account. Not like I'm missing out on any interest.