ever been financialy stressed

I can't remember many times when I haven't been financially stressed!

xmoney should write the scripts for the ocean finance adverts!

fortunm and masons once demanded cash for my case of dom perignon,thats the closest ive been,luckily the butler had just got a yankee up ,so helped out to save any embarrassment on the door step

I read some pretty stark stats recently in some book or other and at the time I thought 'blimey' but didnt dwell on em too much.

They were something like around 30% of the population of amaerica would struggle to get together $2000 over a 30 day period and another 20% could only do it by borrowing on a CC.
It was just under 50%, 46% I think, meaning nearly half of the people in one of the worlds richest countries couldnt get a couple of grand together without assistance.

The elite who run the world have got all your money. You've been swindled.

including those thought of as rich ,footballers etc ,how many do you think could lay their hands on 2 grand if first they had to pay off all their unsecured debt credit,store cards,bank loans etc

Consumers in 2017 would be mad NOT to have debt. Purchasing something and paying at back at 0% interest is effectively receiving interest at the rate of inflation. There's little upside to holding cash reserves once you've exhausted all the straight forward options (and have an emergency reserve), which is of course the point. Pay day loans et al should of course be avoided at all costs.

Sep 3, 2017 -- 9:45AM, 1st time poster wrote:

including those thought of as rich ,footballers etc ,how many do you think could lay their hands on 2 grand if first they had to pay off all their unsecured debt credit,store cards,bank loans etc

Good practice to have 3 months' income as easy access cash aside for emergency/rainy day/loss of income. Banks and CC companies are never going to ask for all their cash back at once, so you just need enough to cover minimum repayments. Better to put resources into paying off any debt with interest (eg overpay mortgage) if you have access to CC credit (rather than save at minimal interest rates).

Yes to All X

Coincidentally I closed a number of CC accounts this morning, as my available credit had gone into 6 figures cumulative. Barclaycard Platinum was particularly desperate for me not to close the account! I was part of the Barclays family apparently. More like a 0% interest ****

While I agree with the sentiment Cider its all petty fiddling.
You can get returns of 1.5% on 20k and 3% on another 15k with extras and another 2% on 9k all current accounts

Youd have to buy something pretty expensive and doing CC transfers limit the amount transfered, or they certainly used to.

in most cases its not interest free its factored into the price,you,ll be able to but it somewhere else cheaper, bit like the catalogues of 40 yrs ago freemens etc,no interest but everything far more erxpensive than at the shops

I guess if you could space it out over years it might become slightly better value

But its the age old issue, the people who need credit dont get it cheap and those that dont need it get it thrown at em for peanuts

5% with Nationwide flex account but only for a year on the first 2.5K. That's still 125 quid. I have the Santander 123 as well so 1.5% up to 20K.

But the Santander 123 CC you get unlimited 0% B on spending (with a nominal £3 pcm fee). 43 months 0% BT with no fee. Easy stuff.

Another option to get a 0% purchase card for 36 months, and put the cash into an account paying interest. NS & I bond paying 2.2% for 3 years is an option (capped at 3k). Only 90 days' interest charged on withdrawals.

Nationwide flex account above only requirement is to pay in 1K pcm. So set up a 'waterfall' SO. Close the account after the year (if no other incentives)

0.5% CB on the Santander 123 CC.

Everything you need in one credit card for a monthly fee of £3
With the All in One Credit Card you’ll get:
0% on balance transfers for 43 months from date of account opening with no balance transfer fee
0% on purchases for 6 months from date of account opening
0.5% cashback on all of your purchases with no limits or caps
No foreign transaction fees on purchases made abroad in the local currency
Retailer Offers - get five welcome cashback offers ranging from 5% to 25% at a range of well-known major retailers once you switch on Retailer Offers via Online or Mobile Banking
Monthly fee refund for 6 months if you have one of our 1|2|3 current accounts

I'm not a Santander salesman but this one really is a no brainer. After 6 months get another no fee 0% BT card, or 36 month 0% purchase card. If you shop at Tesco, some very decent clubcard points for spending on the Tesco CC.

wtf, they give you 0% interest on cash advances now?

Nope, but I can PM you a way of achieving it.

What I can write on here is that you spend on the card @ 0% with CB, rather than use your normal current account. The money you would have spent goes into an account paying interest (or accumulates in your current account paying interest). Just got to be switched on and ensure you make all minimum repayments on time via DD.

lol
well thanks for the offer Cider but Im ok ta.

Its hilarious how contrived its all become, forcing the saver to work for a pittance, looking back to when rates were around 7% standard it just shows what a s hitfest it had all become and how the financial sector completely lost sight of reality before the jenga came crashing down.

Sort of db, but it goes hand in hand. High interest usually means high inflation, mortgage repayments etc.

The people mostly suffering are those who built up a cash pot hoping to live off the interest.

It does feel a bit like playing a game, but I love number crunching so it's fun for me. Some people probably dread the annual comparison site run for car insurance, whereas I can't wait

Ive said in on here in the past, but the real value now is the currency of direct debits which is daft.
I have around 14 accounts all transfering between each other, a real ball ache to set up and each required a DD setup like it means something
For anyone interested you can amount to 6 from memory by opening 2 tesco online saving accounts that accept DDs as pay ins

I hate it, its work for s hit pay, its a model that every sector have implemented now, insurance, banking, telephony , communications etc etc

Tesco current account requires 3 DDs for 3% on 3K and 750 coming in pcm. But you can hold 2 accounts, so 3% on 6K max.

not you lads but usualy the people offering this type of advivce are sat outside a coffee shop ,my advice would be to wait till you get home for your coffee and save 1000,s and 1000,s  of pounds per year,far better than chasing your arse for 100 quid a year,
taxis
coffees
newspapers
bottled water
takeaways
the savings are endless,basicaly part time these days but when working full time, id cry like a baby if I spent a single penny [ petrol aside on going to work,] but people spend 100,s every week without batting an eye

that's 6 DD,S. far greater savings if you can eliminate 1 or more DD,S,

Ive pretty much got it by the nuts as best as it can be as of around 3 mths ago, things change....generally for the worse

My outlook 1st tp is that I don't want to live like a monk. I can waste money like the next man, on take ways etc. I drive what was a brand new Audi. Total waste of cash But I can work the system, so I do

4,5 chocy bars for a squid everywhere,dozen or more pkt of crisps for a squid,4 cans of coke etc for a squid etc,but people put absolute fortunes in vending machines to pay 80p,plus for one of any or all of the above,its likew burning money in the street and you usualy find its the poorest paid who give up their measly ages most easily,imo

If people are regularly eating chocolate bars crisps and drinking canned pop I think they will be in for a greater problem than the overpayments for the items

3 cans of pepsi max a day man here

...as for the coffee nowadays they are like body builders callorie counts

youd be better off on the cider imo

haha vices are what they are. Rarely drink nowadays, never smoked, gambling is profitable, pepsi is my weakness

just coming to the end of a 5 yr fixed isa with Halifax was paying 4.3 %, [ 28,000 ]there putting me on to their variable cash isa paying 0,05%, LOL, ,might need some of the money in a years time,whats the easiest and best deal,
other than bulk buying chocky bars,crisps and drinks,

If you don't want to mess about moving money around, and might need access in a year with no risk then a 1 year bond is best. Get around 2%.

you see these young lads at work drinking 2 or 3 cans of red bull or similar a day at work ,don't no how they sleep at night their heads must be buzzing,think their getting ripped off with these energy drinks  though ,becauser soon as they sit in the cabin their fast asleep, ,its better than nightnurse,

I,d move it to a 0.04% just put 2 fingers up to the Halifax,even dropped their fiver a month to 3 quid

The only mail I get through the post nowadays are from the banks telling me how the TCs are continually changing (never for the better) and like you I have a series of isas that each year were taken out to mature all at the same time from around 5 years down to 1 and the last one I almost had to pay them to take the money ffs

Anything less than 2% is effectively eroding with RTV, it is really tough shielding cash pots right now at no risk, never mind making interest.

I've run a loan for some years now. 3 yr deal each time. Since the 'crash' the interest rates have plummetted.

A great positive from that time is the cost of borrowing. As a business owner it's pretty fantastic. Affordable credit gives me confidence.

Someone mentioned on here it would be better to overpay your mortgage, but beware. 

I don't know whether it still applies but a lot of people were caught out by overpaying their mortgage in the past.  It is not as simple as giving them £20000 and thinking that you will be paying interest only on the remainder, there are various rules so check before you do anything.  And in some cases it might be better if you remortgaged elsewhere if you are on a standard variable rate.

Unless there are fees involved for overpayments then the only thing wrong with paying off a mortgage is if you can get a return greater than your mortgage rate, which is rare these days

people say nah mine hasn't blah,blah. but most mortgages deffo those from 20,yrs ago have early redemption fees,no matter how low your rate its not in the lenders interest to let you pay off early,so theres a fee for it

In the late 1980s a mate of mine told me he had bought some USD 1 Million face value stripped (no interest) 30 year bonds. Inflation was running over 15% at the time, and I told him he was mad. He is about to become a multi-millionaire.

@pxb -- In the late 1980s a mate of mine told me he had bought some USD 1 Million face value stripped (no interest) 30 year bonds. Inflation was running over 15% at the time, and I told him he was mad. He is about to become a multi-millionaire.

So what is the deal here? Was this an inspired punt that inflation would fall?

including those thought of as rich ,footballers etc ,how many do you think could lay their hands on 2 grand if first they had to pay off all their unsecured debt credit,store cards,bank loans etc

Or Boris...
Boris Becker, who made over $25 million as a tennis player, is declared bankrupt

Regarding overpaying a mortgage, any genuine bank will allow you to make a capital lump sum repayment without suffering a fee. Typically capped at 10% per year, but they can differ. Key is to reduce the term rather than repayments. It's a given that you should already be on a fixed rate.

A fella I used to work with decided not to lend a £1,000 to a female friend in exchange for a share of the business she was starting up. Her name















Anita Ruddock

The follow up to hat story was he saw her years later in a pub. He shouted across the pub "I've got that grand you want to borrow Anita" to which she replied laughing "Fxxk off"

ufc,would have been a better story if anita roddick had asked him.

or if Id known who she is.

or was apparently.

,

Long,long time ago I was doing very nicely, thank you!

Then, a whole series of events rendered me so penniless, that I had to virtually beg for a fiver, from my understanding bank manager,
to cover essential grocery shopping!

That btw was equivalent to around £70.00 today!!!

Fortunately in just a few months, it was all history!

So what is the deal here? Was this an inspired punt that inflation would fall?

I forgot to mention he paid about USD8k for each one. So, yes a punt on inflation falling.

dusty

married Neil