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The £10,000 is out and is here with me. I've put it with the other £10,000 and change that I've got.
The money is already out, it can't see it being invested in the UK anymore, the interest rate is mega trollish and any higher interest accounts require it locked up for so long. Nothing but cons and catches.
Yeah i feel same way as you pretty much any savings accounts have petty interest rate or require you to have it locked down or have restraints.. i feel a bit like you where i dont like having my money tied down or anyone in control of it. i used to have £13,000 in a savings accoutn at 2% net rate now its poor rate but better than nothing but you were only allowed 3 withdrawals a year if you made more than three the rate was reduced to about 0.50% lol.
I decided to buy a big block of premium bonds using my money yes its touch and go and a lot of luck but its all cash free prizes and no restraints or locked down youl probably get about 2% interest a year on average but you could be lucky and get a huge win lol.
I don't believe in luck, with the way my life turned out, I have every reason to disbelieve in the "higher power". The only "higher power" is for the bankers, when they get OUR money in THEIR pockets.
Basically the reason banks don;t want to borrow your money is that the government is making it available to them at near zero interest. That means either you invested it in a money making business or your just stuck with no gain.Basically is risk is your in these type investments.
Car Finance – How to Decide on Whether to Lease or Buy A New Car?
This is a great post! I would add that it is also worth checking websites that can help get cheaper car finance. When most of us buy a car, we need to finance it and there don't seem to be many websites out there that focus on this, while at the end of the day, it is what will determine our total payment on the car! Car Leasing, Contract Hire UK, Contract Car, Best Leasing Deals seems to be pretty comprehensive to compare all car finance alternatives, and Auto Trader UK - Buy & Sell New & Used Cars, Car Loans, Car Insurance seems to also have a good personal loan section.
Yes, it is American. It's short for "certificate of deposit". Normally, you will put money away for a certain time in the bank and get a better interest rate than an ordinary savings account. However, you pay a penalty if you take it out early. Normally, CDs go in icrements of 6 months (6 months, 1 year, 18 months, etc). There are some 3 month CDs, but they are usually not worth it because the interest premium is miniscule.
Last edited by mysticaltyger; 04-01-2010 at 12:23 AM..
Enterprise, I feel the same way about the US and the whole global economy more generally. That said, what are you going to do???? You gotta do something. If you're wrong, you'll be happy you did something. If you're right, at least you were psychologically prepared for the worst to happen, which is better than living in denial.
Assuming you also have at least several months worth of living expenses in cash, I'd invest in a mutual fund that invests in a mix of stocks and bonds. In the US, they're called "balanced" funds. The name may be different in the UK. I could recommend some good US based funds, but that would not help you. If you feel that Britain is permanently in the toilet, I'm sure you can invest in a mutual fund that invests either globally (which incudes the UK, but also the rest of the world) or one that invests exclusively in countries outside the UK. I'm sure these things exist in the UK, but I am not familiar with what the options are in the UK.
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Car Finance – How to Decide on Whether to Lease or Buy A New Car?
