Today's Interest Rate Reduction (Merged)
19 November 2008, 08:18 PM
#331
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Chances of 15%? - None in the next 10 years without a political readjustment. - Chances of 7-8% in the next 5 years with a basic tax rate of 25% - more than likely. Good time now to overpay your mortgage, so that you have an option to underpay when we get stiffed to pay it all back. Chances of any party looking after the savers (who don't actually help the economy) more than the borrowers (who keep it running) - 0% ever
. However, will keep this M6 fund sensible and keep the mortgage overpayment going to a couple of hundred quid pm.
Stupid really - why have savings when you have debt? Bonkers! Do we all do it though?
D
19 November 2008, 09:04 PM
#332
Stupid really - why have savings when you have debt? Bonkers! Do we all do it though?
Probably .Savings are a comfort blanket really .People do want more than they can afford these days so they borrow to have what the Jones have .But its nice to have a little tucked away for emergencies .
If things were not so uncertain ,I would not bother with savings ,but I would not want to get caught short ,so to speak .
If things are settled ,then why not borrow to have ,so long as you dont get out of your depth .I for one do not like waiting for something ,so borrowing suits .Knowing that I can afford to pay back what Ive borrowed .
That is to say I dont go over the top and borrow too much ,sod the consequence ,if you know what I mean .
Probably .Savings are a comfort blanket really .People do want more than they can afford these days so they borrow to have what the Jones have .But its nice to have a little tucked away for emergencies .
If things were not so uncertain ,I would not bother with savings ,but I would not want to get caught short ,so to speak .
If things are settled ,then why not borrow to have ,so long as you dont get out of your depth .I for one do not like waiting for something ,so borrowing suits .Knowing that I can afford to pay back what Ive borrowed .
That is to say I dont go over the top and borrow too much ,sod the consequence ,if you know what I mean .
Last edited by njkmrs; 19 November 2008 at 09:08 PM.
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