Are my savings likely to be worthless?

Asheron

Yes move into Silver or Gold, The pound is only worth 70p compared to last year. Gold and Silver not to invest but to protect your wealth

spike87

I didn't fix earlier last year, and I don't intend to fix my savings at a rate now. The rates at the minute are pretty poor, I really can't bring myself to fix at these interest rates. Surely they will start rising again soon.

opinions4u

uih039 wrote: »

Interesting then that most imported electrical goods seem to be cheaper than ever, e.g. TVs. Obviously other factors having an effect.

Just a minor couple of things from my 'O' Level Economics leap to mind.

High supply levels.
Falling demand levels.

Might just knock a few quid off the price!

soulsaver

uih039 wrote: »

Whoops, yes, of course you're right . And I have the cheek to call myself an Accountant!

Interesting then that most imported electrical goods seem to be cheaper than ever, e.g. TVs. Obviously other factors having an effect.

You don't work in a bank, by any chance....?

uih039

soulsaver wrote: »

You don't work in a bank, by any chance....?

OK, OK, no need to rub it in. Here's a few more .

If you don't behave I will start ranting on about buying gold!

nrsql

uih039 wrote: »

Whoops, yes, of course you're right . And I have the cheek to call myself an Accountant!

Interesting then that most imported electrical goods seem to be cheaper than ever, e.g. TVs. Obviously other factors having an effect.

Getting rid of stock. No one's buying so they have to reduce price to get rid of oversupply. It's a short term effect as production is decreased to catch up then the effect of exchnge rates will be apparent.

We just need to get rid of the local stock and then the surplus supply stock and prices will rise - even though margins will be cut.
Of course with most electrical goods the price comes down after the initial research costs are covered (or competition/ new products forces it) which will have a contrary effect.

I can see other costs of living rising and housing falling as a percentage of earnings nearer to levels they used to be when I was little.

the_commander

Thanks for all the replies, I just can't help but get concerned. I have worked so hard for this cash, to lose it would be pretty devastating.

purch

The pound is only worth 70p compared to last year

Against what ?

If you are going to make a dumb statement as if it's fact, at least state your reasoning too !!!

thelawnet

Stavros wrote: »

Not at the moment as the rate of inflation is around the same as savings rates .

Well in aggregate maybe.

But here's the breakdown:



Doesn't look so pretty does it.