The Tougher Thread continues.....

bluebag

HariboJunkie wrote: »

The news is indeed depressing re the economy. I really have no idea what the solution is but I have a feeling they may have to reduce interest rates still further to make people's money go further. In that case they I think the only thing for savers to do is "spend to save".

Maybe that's the plan, people with reduced income and rising costs tend to pull back the spending, as indeed we are all doing on here.
This tends to put the economy in a downward tailspin as it depends on growth.

Get savers to spend some of their ' deferred consumption' and bring it forward to the present.

Personally, I feel best served by keeping my emergency savings and suffering the loss to standard of living. Too much bad news and uncertainty for me.
Any spending I do to 'save' would be reducing anything I owe that has interest attached.

Reducing my needs seems to be the best option for me at the moment. The wants are really at the back of the queue.

When it boils right down to it, needs are very little.

Former_MSE_Andrea

Hi everyone

Old Style is a fantastic board with hugely helpful people discussing anything and everything. It has evolved over the years from its original core purpose but it's what you guys make it.

If you feel the It's Tougher threads need to be about high finance in relation to old style saving then why not, the thread belongs to everyone on the Forum.

Let's get on with MoneySaving now.

Thanks everyone!

Just to give things a friendly jump-start I've started a new thread..

https://forums.moneysavingexpert.com/discussion/comment/47786225#Comment_47786225