General Discussion and Whimsical Banter

Zopa_Trooper

When I see on MSE, as at present, a headline 'I was with a home insurer for 23yrs - then saved £268 by switching. Thanks'. I used to think, good for you. Now I think how stupid could you be to wait 23 years before doing something so obvious and easy. How much could they have saved over 23 years? Some people really do have money to burn.

mebu60

Zopa_Trooper said:

When I see on MSE, as at present, a headline 'I was with a home insurer for 23yrs - then saved £268 by switching. Thanks'. I used to think, good for you. Now I think how stupid could you be to wait 23 years before doing something so obvious and easy. How much could they have saved over 23 years? Some people really do have money to burn.

I silently thank them for having helped to keep our premiums a little lower.

When I assisted an elderly lady with a house move I removed almost £5k of annual spend for her! As well as switching insurances that were overpaying hundreds there were multiple / duplicated product / service insurances / warranties plus charitable donations, medicines she didn't want or need, etc. Must've been going on for years. The niece (unable to drive so couldn't visit as regularly as she would have liked) was kept at bay but once I was able to see first-hand the scale of cost of her independence changes were made. There is an LPA now with the niece as attorney. 

What's really scary is you know that the original scenario is being repeated all over the country. 

Zopa_Trooper

mebu60 said:

Zopa_Trooper said:

When I see on MSE, as at present, a headline 'I was with a home insurer for 23yrs - then saved £268 by switching. Thanks'. I used to think, good for you. Now I think how stupid could you be to wait 23 years before doing something so obvious and easy. How much could they have saved over 23 years? Some people really do have money to burn.

I silently thank them for having helped to keep our premiums a little lower.

When I assisted an elderly lady with a house move I removed almost £5k of annual spend for her! As well as switching insurances that were overpaying hundreds there were multiple / duplicated product / service insurances / warranties plus charitable donations, medicines she didn't want or need, etc. Must've been going on for years. The niece (unable to drive so couldn't visit as regularly as she would have liked) was kept at bay but once I was able to see first-hand the scale of cost of her independence changes were made. There is an LPA now with the niece as attorney. 

What's really scary is you know that the original scenario is being repeated all over the country. 

I'm sure you're right and I agree with your first sentence entirely. I said that to one guy at work once who told me he stayed with the same car insurance company for years because they "We're always good to him". I though he meant they had been good when he made a claim but it turned out he never had. You only find out how good insurance is when you make a claim.

talexuser

Just looking at Income tax or NI %s is not the whole story, Vat revenue has doubled since the 70s with the rate increases, and new taxes have been introduced eg insurance premium tax, airport tax etc. Council tax ended up paying much more than rates a few years earlier with the poll tax fiasco inbetween. 

sheslookinhot

Zopa_Trooper said:

When I see on MSE, as at present, a headline 'I was with a home insurer for 23yrs - then saved £268 by switching. Thanks'. I used to think, good for you. Now I think how stupid could you be to wait 23 years before doing something so obvious and easy. How much could they have saved over 23 years? Some people really do have money to burn.

Everyone is different, they shouldn’t be judged. What’s past is past. I say better late than never.

daz378

Watching politics live the other day...said uk...tax burden currently is  around 34%...but is set to rise to 37/38 % over the next 5 years...don't seem to be getting much value for this...but we are still paying for covid support 

talexuser

The iFS figures above show us already around 37% - could the NI drop affect the total so much against the constant inflation fiscal drag? Most commentators seemed to say the drop was like taking an extra £10 away in drag and then giving £1 back in a tax cut.

masonic

Like inflation, we will all have out personal rate of taxation, which can be added it up from all manner of things. I'm struggling to think of a scenario where someone would be better off in real terms under the coming tax regime.

ircE

iFast Global Bank - never heard of these guys before, but I've just spotted them on Moneyfacts, offering 4.25% instant access savings accounts in GBP and lower rates in other currencies. They seem to be a savings and transfer payments subsidiary of a Singapore-based wealth management firm.

pecunianonolet

ircE said:

iFast Global Bank - never heard of these guys before, but I've just spotted them on Moneyfacts, offering 4.25% instant access savings accounts in GBP and lower rates in other currencies. They seem to be a savings and transfer payments subsidiary of a Singapore-based wealth management firm.

Could that be an option to get USD out of Paypal without their crazy exchange rates?