Millions have saving of less than £100
Discussion
BOR said:
SPS said:
And 100 people have billions and pay bugger all tax so it's all"OK" then - NOT!
Capitalism. Works very, very well for some people, for the rest, not so much.Better with Corbyn but it'll do.
Jasandjules said:
Only on PH is talk of a "mere" 60-100k salary deemed rational.
In the real world, many people earn less than 18k.....Plenty earn less than 30k.
how many active users are on PH, 2-300K. Probably very reflective of society with a London bias. I'm lucky i only have one kid at school so far. My neighbour has 3 kids all at a very expensive private school is 20k per annum each. thats 100k gross in fees. some earn a sIn the real world, many people earn less than 18k.....Plenty earn less than 30k.
t load, some don't. and he works very hard for his money.
turbobloke said:
BOR said:
SPS said:
And 100 people have billions and pay bugger all tax so it's all"OK" then - NOT!
Capitalism. Works very, very well for some people, for the rest, not so much.Better with Corbyn but it'll do.
t. Just like Democracy. It's better than the alternatives.It might be s
t but if you look at the standard of living of the citizens over time capitalism has delivered for the many, rather than just the few, over and time again. I'm looking at the results, not the fantasy. If the side effect is a few billionaires I'll take that "downside" for the fact that I have food on the table and cars in my driveway as do the vast majority here in the UK. Every last one of us won life's lottery just being British. I'm so grateful as should everyone be who gets to live on this Island Shangri-La.Don said:
turbobloke said:
BOR said:
SPS said:
And 100 people have billions and pay bugger all tax so it's all"OK" then - NOT!
Capitalism. Works very, very well for some people, for the rest, not so much.Better with Corbyn but it'll do.
t. Just like Democracy. It's better than the alternatives.It might be s
t but if you look at the standard of living of the citizens over time capitalism has delivered for the many, rather than just the few, over and time again. I'm looking at the results, not the fantasy. If the side effect is a few billionaires I'll take that "downside" for the fact that I have food on the table and cars in my driveway as do the vast majority here in the UK.t remark which is better aimed at socialism!I was reminded of this discussion when I received my post this morning.
A letter from Lloyds bank telling me they are cutting savings account rates. From 0.25% to 0.05%.
I don't keep much in there - had been using one account to receive rent from an investment house, and another for a holiday fund.
But it's no bloody surprise people don't have savings when it's difficult to find accounts which will just keep pace with inflation, beating inflation seems to be very difficult these days.
A letter from Lloyds bank telling me they are cutting savings account rates. From 0.25% to 0.05%.
I don't keep much in there - had been using one account to receive rent from an investment house, and another for a holiday fund.
But it's no bloody surprise people don't have savings when it's difficult to find accounts which will just keep pace with inflation, beating inflation seems to be very difficult these days.
Trabi601 said:
I was reminded of this discussion when I received my post this morning.
A letter from Lloyds bank telling me they are cutting savings account rates. From 0.25% to 0.05%.
I don't keep much in there - had been using one account to receive rent from an investment house, and another for a holiday fund.
But it's no bloody surprise people don't have savings when it's difficult to find accounts which will just keep pace with inflation, beating inflation seems to be very difficult these days.
Totally agree. I have an account that was paying sufficient interest to cover its fees and make a profit. Now it will pay no interest at all. I need to move my funds around to try and get some return...liquidity is expensive and one only needs to retain so much.A letter from Lloyds bank telling me they are cutting savings account rates. From 0.25% to 0.05%.
I don't keep much in there - had been using one account to receive rent from an investment house, and another for a holiday fund.
But it's no bloody surprise people don't have savings when it's difficult to find accounts which will just keep pace with inflation, beating inflation seems to be very difficult these days.
I have a few grand in a HTB ISA, once that is gone on the purchase of my house later this year I'll have no savings, all my available money will be going on paying bills/debts, doubt I'll have any savings till at least 2018. But once they're gone I do have quite a decent disposable income.
klmhcp said:
scenario8 said:
klmhcp said:
London has 8m people living in it so of course stats will show wages as being less. The fact remains that if you're educated, bright and ambitious (so any decent grad), you can earn 100k in London within a few years without being in a particularly special role.
And possibly within your workplace your six figure earnings might be considered distinctly average. But even within London your earnings would remain well above average. Even amongst the bright, educated and ambitious you'd be doing very well.turbobloke said:
That's spot on therefore it doesn't justify the initial sht remark which is better aimed at socialism!
My point was Capitalism, like Democracy, is a crap system. It's just that out of all the systems we've tried its the one that has consistently had the best outcome for the general population. Countries that have tried other systems have invariably become failed states or totalitarian nightmares.t remark which is better aimed at socialism!I'd love to believe in a vision of human society founded on peace, harmony and love where to each man according to his need and from each man according to his talent and all that s
t. It's just been proved to be bks. We're not all Star Trek and the Federation. We're not The Culture. So given that I'm all for the system that works in the real world. The one generating the most wealth for most of us. And that would be free market capitalism every time.Don said:
turbobloke said:
That's spot on therefore it doesn't justify the initial sht remark which is better aimed at socialism!
My point was Capitalism, like Democracy, is a crap system. t remark which is better aimed at socialism!t and crap aren't justified given the benefits that have arisen for so many. Surely "good and inevitably imperfect but better than the alternatives" is more like it.If you still disagree, such is life
It's been pointed out that when interest rates are high, inflation is high. But when I started work in the 80s there was a motivation to be "sensible" and save a bit because it was satisfying to see the money go up 10% a year. Even if it was a bit irrational, it's what loads of us used to do. Now it is rather the case of "what's the point saving?" Especially since people have made far more out of mortgages/property. I'm sure all this is also pushing up the price of classic cars too; just when I want to get one. 
Though not he worst problem in the world, I guess.
Though not he worst problem in the world, I guess.When I earned X we seemed to live an alright life, modest mortgage, holidays £11,000 car.
Now I earn a multiple of X we don't seem to have as much spare cash as we used to, spending just seems to expand into what you earn- I dont k ow how that happens.
I have friends that have little money, but seem to get buy ok, and friends who earn a lot that spend it as if it is going out of fashion.
I would be interested to know of those with no savings how many have hd tv's and "rented" cars....
Now I earn a multiple of X we don't seem to have as much spare cash as we used to, spending just seems to expand into what you earn- I dont k ow how that happens.
I have friends that have little money, but seem to get buy ok, and friends who earn a lot that spend it as if it is going out of fashion.
I would be interested to know of those with no savings how many have hd tv's and "rented" cars....
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