What have you personally learned from the current crisis?

dkmax_2

Primrose wrote: »

And will you be doing anything differently in future? (either in lifestyle or financial planning).

I'm investing in tinned food. It's all going to get pretty medieval in a year or three.

MIKELSOK

What have I learned?

Well I have never been so stressed out in my life before this pile of S---e, thats for sure. I lie not, but one day this week I got up and didn't go to work because I thought it was a Saturday and then at 11.00 had to get ready and go in when I was informed by my daughter it was Friday, how embarassing is that? I was obviously so immersed in trying to get my cash back from Icesave that it completely took over my mind.

On a financial planning perspective I will never deposit savings unless there is a cast iron guarantee of 100% compensation, so forget Isle of Man, Guernsey, or any other small GDP outpost only a UK institution for me from now on. Even Ireland to me is a Risk, if for example it comes to a failure situation I can just imagine another Iceland in the making.

There are of course some people a lost worse off than myself and I can readily sympathise with how they must be feeling. You only had to watch the news tonight of one poor Guy who had his money with Kaupthing in the I of M and stands to lose nearly £700K, God!! thats an awful lot of money. Its the fact that you have worked hard and saved hard and it all can go down the tubes in an instant that is difficult to get your head around.

KorkyKat

I've learnt to go political. To check out the low level scum like Goodwin and his mates who have been turning over customers while pocketing millions and millions.

In a nutshell I'm going to look for an ethical bank where customers have a say on what the top dogs takes home.

If all M.P's could be like this guy.

http://www.john4leader.org.uk/

worrypants

I left the basket case UK in April and now live in a wilderness area of Canada and its like going back 70 years in the nicest possible ways.

eg the best things in life are not things, you can live on about a third of a UK income and there are no brit chavs:T

this last week I have been emptying UK accounts every night and planting the funds in Canada ( yes I had a bit in Icesave)

what have I done differerntly? I am thankful every second of everyday that I no longer live in the UK and I will never set foot there again

neither will a penny of my hard earned cash remain in the UK
interest rates in Canada are dire but I really no longer care

why should my cash be given to lie to buy mortgagees and those that live beyond their means no more I say!!

Masomnia

Eggs. Basket.

paul5046

Its reinforced what i already knew. The ONLY guaranteed way to get rich is hard work and education. Saving in dodgy foreign banks for a few extra quid is a mugs game, and trying to predict the stock market is for idiots.

amistupid

worrypants wrote: »

and now live in a wilderness area of Canada and its like going back 70 years in the nicest possible ways.

Living in in freezing cold log cabins, horse in the garage, daren't go in the garden in case you're attacked by a grizzly, having the Americans laughing at you all the time, and maple syrup on pancakes for breakfast. Not for me Rule Britannia! As the Lone Ranger once said to his sidekick as they were heading north "On to Toronto Tonto!" but they soon came back!

David_Mickovsky

I've learned that you should never buy when the prices are high. Because after that, there's comes a downturn.

going2die_rich

Learned to never trust Iceland and proven myself right for thinking the passport scheme was nonsense.

But the main lesson learnt is, that the stupid will always be bailed out by the taxpayer. Thats towards those who saved more than the protected limits and the bankers who took excessive risks.

domcastro

If this crisis had happened any other time then I would have been oblivious. Until July I had been a house owner with no money in savings. I relocated, sold my house - ended up in with 80k bonded to the Halifax (2 more weeks to go before I can spread it around) and everyone telling me to wait a while until I buy another house. It's been very stressful. I've learnt that it's always best to own your house and have no savings!