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BoE urges savers to spend spend spend to save the economy!
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Well, I'm doing my bit for the economy - I spend what I want to and save the rest - no point in saving every penny, cos you might never get to spend it, so IMO it's best to find that balance of enjoying your life now and saving for the unknown future. Even Scrooge wasn't happy till he gave someone a goose (take that as you will
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And before anyone comes kicking me, I do save and invest a significant part of my disposable income - but I don't hold off spending an equally sizable chunk if it means I get to enjoy my hard-earned while I can.You've never seen me, but I've been here all along - watching and learning...:cool:0 -
I am almost doing the same as someone posted before. I am on BoE base rate tracker mortgage. I save what I can, than I buy silver and gold coins which are earning nicely since I started to collect them. When the situation matures I will sell my gold & silver and reduce the amount of my mortgage.
DYODD0 -
When my local shops start taking sovereigns I'll do as the BOE suggests, till then, sorry!0
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margaretclare wrote: »I'd rather listen to this man, Peter Hargreaves: http://www.h-l.co.uk/news/expert-comment/the-aptly-named-mr-bean
All that Bean was doing was explaining the reasoning being BOE monetary policy, not sure what why that should upset Hargreaves so much.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Ah, we must now listen to Mr Hargreaves. The man who has made a fortune in the UK and is now threatening to leave to a place where he won't pay UK tax. Mmmm ....0
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However, Peter Hargreaves is kind of biased, wouldn't you say?margaretclare wrote: »I'd rather listen to this man, Peter Hargreaves: http://www.h-l.co.uk/news/expert-comment/the-aptly-named-mr-bean
If people spend all their money, they're not investing it with HL, and if they're not investing it, a) his company don't make a profit from customers and b) investers may not be investing in his company (subtle difference there) - either way, his income has the potential to decrease.
So of course he's going to say "save save save".You've never seen me, but I've been here all along - watching and learning...:cool:0 -
@LongTermLurker - surely Mr Hargreaves is goings to be saying invest, invest, invest and not save save save?0
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