AardvarkBusiness.net - Business Search Engine AardvarkBusiness.net - Business Search Engine



 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister   ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

     

Is there any point in saving any more?

 
 
Post new topic   Reply to topic    AardvarkBusiness.net Forum Index -> Accountancy & Finance Forum
View previous topic :: View next topic  
Author Message
adigaskell
President
President


Joined: 01 Jul 2004
Posts: 5428

7099 ants

PostPosted: Fri Mar 06, 2009 5:59 am    Post subject: Is there any point in saving any more? Reply with quote

Interest rates down to 0.5%, the BofE going to print money, thus causing inflation (or our existing money to become less valuable), so what is the point of saving these days?

It makes me wonder if this crisis wasn't caused by people borrowing too much and not saving enough. I think I must live in a fantasy world.
_________________
My social media blog
Back to top
View user's profile Send private message Visit poster's website
trader84
Temp


Joined: 26 Jun 2009
Posts: 2

3 ants

PostPosted: Fri Jun 26, 2009 10:55 am    Post subject: Reply with quote

I don't think so, government on many countries all over the world will find the solution. good luck Smile
Back to top
View user's profile Send private message
gowriter
Secretary
Secretary


Joined: 31 Dec 2009
Posts: 13
Location: USA
18 ants

PostPosted: Thu Dec 31, 2009 1:17 am    Post subject: Reply with quote

You've got to save a little money for a rainy day for emergencies. But as for me waiting until I'm 52.5 years old to get my retirement savings...I think I'm going to pass on that idea. I don't need to save myself money from my own self. I manage it pretty decently.

But I do want to tuck some away in the interim because I don't yet earn enough to live above the standard cost of living.
Back to top
View user's profile Send private message
apoorva.raji5
Temp


Joined: 31 Jan 2011
Posts: 3

4 ants

PostPosted: Tue Feb 01, 2011 10:35 am    Post subject: Reply with quote

In order to avoid serious financial issues, you have to make sure your money is actually worth something. Saving without interest is still good than nothing.
Back to top
View user's profile Send private message
paul
President
President


Joined: 15 Oct 2002
Posts: 8314
Location: UK
11706 ants

PostPosted: Tue Feb 01, 2011 2:37 pm    Post subject: Reply with quote

apoorva.raji5 wrote:
Saving without interest is still good than nothing.


So you're taking the 'cash under the mattress' approach then...?
_________________
UK Hotels - UK Selfcatering
Luxury Travel - Lake District Apartment
Back to top
View user's profile Send private message Visit poster's website
chabrenas
Secretary
Secretary


Joined: 08 Jan 2009
Posts: 19
Location: France
22 ants

PostPosted: Sat Feb 12, 2011 7:39 pm    Post subject: Reply with quote

Paul, in the current situatiuon, 'cash under the matt6ess' may indeed be a viable way to maintain an emergency fund - provided you don't live in an area where the required level of security exceeds the money a retail bank would take from you fior holding the same sum. Very Happy
_________________
back to the world of sailing
http://www.newfreebooters.com
Back to top
View user's profile Send private message Visit poster's website
Kay
President
President


Joined: 07 Jan 2009
Posts: 3079
Location: Mostly SE Asia
4173 ants

PostPosted: Sun Feb 13, 2011 2:12 pm    Post subject: Reply with quote

If you don't think that savings are worthwhile, you can do other things.

- invest in internet real estate,

-- domains. Must admit I've had very little luck with this, but if you put even just a small site on them you can get your money back from AdSense and the like (had some luck with that).

-- profitable websites. Lots of people do this. I've very little experience of it but I believe it works.

- switch currencies around. I'm a complete amateur at this, but we've made a few bob by watching how the dollar moves against the pound. Buy when it's cheap and then switch back when it changes.

- just spend it. I'm spending quite a lot of money these days. I suppose you could call it 'investing' in new projects. The idea behind that is that the money I spend today will bring rewards tomorrow and I'll get more back out than I put in, in the first place.

Just as we've moved from the industrial age to the information age, perhaps we've also moved away from the traditional savings model.

Is there a case to be made for growing revenue rather than capital?
_________________
http://britishexpat.com
Back to top
View user's profile Send private message Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    AardvarkBusiness.net Forum Index -> Accountancy & Finance Forum All times are GMT + 1 Hour
Page 1 of 1

 
Google
 
Business Forum Sport Forum Travel Forum


Powered by php B B © 2001, 2002 php B B Group

AardvarkBusiness.net Business Search Engine & Directory