Savings

Lotty13_2

Is it just me or is everybody happy that anybody with savings accounts are just being ignored. The rates have dropped drastically loosing people hundreds and sometimes thousands of pounds, the banks are being bailed out for messing up and we are the ones that are suffering. Some people have their life savings just disintegrating before their eyes and the government doesn't seem to give a toss. You work all your life and save to give yourself a better future and then some idiots come along, mess up the banking system, but hey they will give them a few hundred thousand to sort themselves out, which they then don't pass on to the rest of us. I think it is absolutely disgusting. Shall we spend what little we have left then go on benefits!!! Rant over.........

owner

You say you're happy with being ignored then go on a rant about rates, which is it ?

Shall we spend what little we have left

That's what they want you to do !

nobby24

I agree with you Lotty, it does seem that way, but if you shop around you can still find some quite reasonable saving rates and they are safe up to £50k per account.

Any

Owner, read properly, she was being sarcastic.

I agree as well Lotty.

As for Nobby's comment - that is true, but the problem is that all the older people who saved all their lives to have income from interest from their savings have more then £50k..

nobby24

Any wrote: »

Owner, read properly, she was being sarcastic.

I agree as well Lotty.

As for Nobby's comment - that is true, but the problem is that all the older people who saved all their lives to have income from interest from their savings have more then £50k..

Why is that a problem? Just put it in more than one account. I am one of them btw.

Any

The problem is that there isn't many "safe" saving accounts offering good rates.. I myself wouldn't have picked more then 1 or 2 which I could trust!
Yes, they might be protected, but if something does go wrong, you loose months in interest and you spend sleepless nights wondering when you get your money back...

Broadback

My feeling is that it has been this way for a long time. those of us who were frugal and saved for, hopefully, a comfortable retirement have been screwed in all ways possible. If you fritter your money away, in booze and bingo, when you retire, or lose your job you are rewarded for being a spendthrift by government handouts. Rant on as much as you like, and I do from time to time, you might just as well beat your head against a brick wall. You can't even make a difference by voting for an alternative party!