Moneysavingexpert campaign to help savers

hallmark

Isn't it about time this was launched?

Savers are being mercilessly hung out to dry by monetary policy. Anyone who "did the right thing" is being rewarded by huge losses in the current high inflation & almost zero IR environment.

And all in order to bail out the profligate - all those people who did precisely the thing that's put economies in so much trouble - i.e. borrowed money they couldn't afford to pay back.

It's heinous treatment of savers & especially callous since in lots of cases people with savings are OAPs trying to live off them.

So come on. Since this is MoneySAVINGexpert how about a campaign on behalf of people who do/did just that? A chunky raise in the ISA allowance might be a start. Or some other concession like reduced income tax on any savings.


Otherwise you may as well just rename the site Moneyspendingexpert & be done with it.

Cleaver

Is there such a thing as a 'saver'? I.e., someone who saves all their money?

The majority of people, I suspect, have a mixture of secured debt, unsecured debt, savings, investments and pensions. I certainly have all those things aside from unsecured debt, although I do use a credit card. On one hand I'm benefiting from a low(ish) mortgage rate, but my savings are seeing quite a poor return. My investments have recently taken an absolute battering. Should we therefore have a campaign to help investors? Have I 'done the right thing' or not?

I guess the point I'm making is that I don't know anyone who is just a saver. And if you do have everything you own in savings maybe you should consider diversifying your money so that you can generate a better return.

Jimmy_31

Cleaver wrote: »

Is there such a thing as a 'saver'? I.e., someone who saves all their money?

The majority of people, I suspect, have a mixture of secured debt, unsecured debt, savings, investments and pensions. I certainly have all those things aside from unsecured debt, although I do use a credit card. On one hand I'm benefiting from a low(ish) mortgage rate, but my savings are seeing quite a poor return. My investments have recently taken an absolute battering. Should we therefore have a campaign to help investors? Have I 'done the right thing' or not?

I guess the point I'm making is that I don't know anyone who is just a saver. And if you do have everything you own in savings maybe you should consider diversifying your money so that you can generate a better return.

Im a saver.

michaels

I can't beleive it - we all spent billions bailing out the banks to protect the savers and now they are whinging and wanting more

hallmark

Cleaver wrote: »

Is there such a thing as a 'saver'? I.e., someone who saves all their money?

The majority of people, I suspect, have a mixture of secured debt, unsecured debt, savings, investments and pensions. I certainly have all those things aside from unsecured debt, although I do use a credit card. On one hand I'm benefiting from a low(ish) mortgage rate, but my savings are seeing quite a poor return. My investments have recently taken an absolute battering. Should we therefore have a campaign to help investors? Have I 'done the right thing' or not?

I guess the point I'm making is that I don't know anyone who is just a saver. And if you do have everything you own in savings maybe you should consider diversifying your money so that you can generate a better return.

Anyone with net savings is a saver IMO. And demographically I would imagine that's lots & lots of OAPs & very few people under 40 (no idea on the exact figures but that would make sense logically).

I don't have everything I own in savings FWIW, I wasn't talking purely on the basis of what would be in my own interests, rather what would be a much "fairer" situation than what's happening right now.

Torry_Quine

Cleaver wrote: »

Is there such a thing as a 'saver'? I.e., someone who saves all their money?

The majority of people, I suspect, have a mixture of secured debt, unsecured debt, savings, investments and pensions. I certainly have all those things aside from unsecured debt, although I do use a credit card. On one hand I'm benefiting from a low(ish) mortgage rate, but my savings are seeing quite a poor return. My investments have recently taken an absolute battering. Should we therefore have a campaign to help investors? Have I 'done the right thing' or not?

I guess the point I'm making is that I don't know anyone who is just a saver. And if you do have everything you own in savings maybe you should consider diversifying your money so that you can generate a better return.

I have no debt secured or unsecured or indeed a credit card. so yes I think savers have been given a raw deal and it's about time that changed

atush

the chairman of the bank of England just discussed this in his interview with the BBC.

Something along the lines of "so you want us to raise rates so savers can earn a bit more and instead we will have more unpemployment and it will bring on a recession" or some such.

HAMISH_MCTAVISH

hallmark wrote: »

this is MoneySAVINGexpert .

I'm SAVING a fortune on my mortgage thanks to these once in a lifetime low rates.

Thanks savers.:beer:

OptionARMAGEDDON

The main demographic group who are savers are typically OAPs, who benefited greatly by screwing the younger generations through house price rises. Many now want their cake and eat it.

Well tough fek. Funny old thing, an increase in one asset value is now dragging up soft commodity prices.

If they hadnt devalued the currency by insisting on all this additional debt, we wouldnt be in this mess.

Lokolo

michaels wrote: »

I can't beleive it - we all spent billions bailing out the banks to protect the savers and now they are whinging and wanting more

The majority of savers were already protected as very few will have more than £50k (at the time) in one institution.

OptionARMAGEDDON wrote: »

The main demographic group who are savers are typically OAPs, who benefited greatly by screwing the younger generations through house price rises. Many now want their cake and eat it.

Well tough fek. Funny old thing, an increase in one asset value is now dragging up soft commodity prices.

If they hadnt devalued the currency by insisting on all this additional debt, we wouldnt be in this mess.

Yet theres people like me who are saving for a house deposit and can't enjoy the low rates on a mortgage, nor enjoy the fact my savings are depleting in real terms.

Torry_Quine

OptionARMAGEDDON wrote: »

The main demographic group who are savers are typically OAPs, who benefited greatly by screwing the younger generations through house price rises. Many now want their cake and eat it.

Well tough fek. Funny old thing, an increase in one asset value is now dragging up soft commodity prices.

If they hadnt devalued the currency by insisting on all this additional debt, we wouldnt be in this mess.

I'm nowhere near being an OAP actually! If people are struggling now I can't imagine what they'll do when the rates go up as they have to some time.