Stoozing and Inflation

I stopped stoozing about 4 years ago with 40k stashed in various accounts. I'm down to 0 debt now. I was however wondering if now in this time of rising inflation is it a good time to start up again. Whats the current thinking on this?


  • eskbanker
    eskbanker Posts: 29,817
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    Surely it's the level of savings interest rates that's more relevant than inflation, i.e. it's all about what you can earn on the money?

    Granted, savings rates are inching northwards again too, but at nothing like the same pace as inflation - you may also suffer from tightened lending policies constraining how much 0% credit you can get these days....
  • pjread
    pjread Posts: 1,100
    First Post First Anniversary Combo Breaker
    edited 11 April 2022 at 6:38AM
    The only real reason to cite inflation would be if you intended to invest rather than save, which typically gets at least a raised eyebrow (i.e. is clearly higher risk than banging it in premium bonds or savings accounts).  At least until and unless we see cash saving rates increase, which I guess they should but not showing much sign yet - not that you can't get a bit of 'money for nothing' here but it's really not a lot.

    TBH I've nearly wound mine up and probably won't bother looking for another transfer unless there's an easy/safe 5%+ to put the cash in.
  • I am slow stoozing on a couple of interest free spending cards - once I got into the habit it seemed easy enough not to change that; if you've a big household expense I think that's a no brainer, Christmas and all other general expenses will be spread over the rest of this year with the deferred spending in my highest interest bearing current accounts and regular savers.
    I do still have about £3k from a transfer last year, I think the very best offers on savings rates of about 1.xx% just about wash the face of the cheapest and of course all fee free offers. Inflation will erode the value of the debt.
    Cash's spending power is always reduced by inflation stoozed or not, I'm keeping my stable of cards live in the hope of a return to the good times of higher gaps between fees and savings rates.
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