pslewis

"According to the Bank of England, UK residents had total savings of £544 billion by the end of September 2005, which averages to nearly £22,000 per household"

Thats not bad, I am sure you will agree!?

Hope yours is not in a low interest account!

Pete

Mark Miwurdz

Nice one Pete; another unbalanced view of the politcal world.

Now tell us about the huge amount of debt that's been created whilst Labia have been in power.

Cheers
Kav

alcazar

iTrader: (2)

As under Blairs teacher, Thatcher: the rich get richer, the poor get screwed

Alcazar

Petem95

Im sure 90% of this wealth is held by something like 3% of the population.

Under Labour the real 'average' family probably has average debts of 22k.

pslewis

EH?? Just read it on The Motley Fool Money Site ........ highly respected site too!

It is a statement of FACT ................. I just think that we should give credit where credit is due - Labour has set the conditions for us all to thrive, I think that £22,000 in savings is quite healthy myself??

Pete

Graz

I've got more than that

Come on Pete we all want to hear how much money you've got stashed away

GrahamG

I have about £250 in my savings....

Mark Miwurdz

You still haven't answered the point on debt. Most of it may be self-inflicted but it's as direct result of Labia's policies.

For example, apart from the fact we don't need any more graduates, what kind of political administration encourages students to saddle themselves with debt before going into a non-job?

fast bloke

Pete - can you give us the the figures if you don't include pension funds?

Dracoro

Errrrr, pete. take the net of consumer debt vs consumer savings and you'll find nearly everyone in the red. This is SIMPLE, even you should be able to figure it out, even if gordon brown can't

Crazy Chick

That's about £200 more than me.

And top of all that I've also got above the average debt of £22k.

pslewis

EH??

Labour has marched people to the bank to take on loans have they???

NO

Labour have FORCED students to go on to University???

NO

Labour have told students to do a 'mickey mouse' degree so they have a non-job at the end???

NO

Labour has turned our kids into monsters???

NO

It's about time people started taking responsibilty for their own actions and stopped whining and moaning and crying that, "It's someone elses fault that I am a failure"!!!!

Grow up, smell the coffee, get off your ***** and improve things if you don't like them!!

Pete

pslewis

I fit the National average quiet well ................ but thats not the issue.

The issue is that, if you divide the amount held in savings accounts (NOT pensions or homes!!) by the number of households, you get a figure of £22,000 cash savings.

Now, ok, there wil be some ups and some downs .....................

Of course, those with £22,000 in cash savings may also have a credit card debt of £15,000 ............. thats not the point though is it? I am JUST talking about the cash deposits in savings account.

Pete

Vegescoob

Always interesting watching "Spin" in action.
I'm sure most here understand the fundamental flaw in extrapolating from the "average".
Simply, I earn £100k, you earn £20k.
In this population of 2 the average is £60k.
Must be a very happy population then.

Dracoro

Pete, you're only looking at the mean average. What about the mode and median. I think you'll find the average is NOT £22k. The same as your 'average' wage being £35k p/a when in fact it's closer to £23k.

Averages can be very misleading. You need to know what the TYPICAL wage and TYPICAL debt is.

pslewis

50% are EXTREMELY happy ................... any politition would take those odds tomorrow!!

Pete

pslewis

Yes, but where is the FUN it THAT!!

If I just posted and said that the typical savings are £16750 then no-one would get excited, because everyone has that in cash savings.

If I just posted and said that the typical wage was £27865 then no-one would get excited, because everyone earns at least that (on here anyway).

So, I've got to say something interesting enough to spark a debate .....

Pete

Dracoro

You mean you're on a wind up

pslewis

NO!! .....................

I am merely doing what the papers do and posting a Headline .........

Some call it trolling, I haven't ever seen myself as one of those - and it doesn't worry me if others pop me in the troll pigeonhole

Pete

lozgti

they will need it when interest rates can no longer be supressed to tiny rates.

pslewis

I would LOVE rates to shoot up to 15%!!

Houses will be dead cheap and I can buy some more

Pete

dpb

Youve average sensationalist nonsense weve come to expect - answer Fast Bloke, Lewis....

..willing to bet the only folks wth 22k inthe dep accounts are folks of around 60 who did very well ( im alright jack) under Thatch

SJ_Skyline

That figure does not take into account the £1 Trillion debt that the UK public has at that time (Now £1.1 Trillion) That would show a national household debt of £456 Billion which is about £18,000 debt per household in my reckoning.

Gordon Brown has squandered this country's wealth and systematically destroyed innovation and industry by drowning it in a sea of red tape and taxation.

rik1471

Money's a bit pointless when you're dead, which is where we're all heading.

Some sooner than others

fast bloke

I suppose that admitting that the average 'middle income' (anyone with an income above the poverty line and below the 40% tax threshold) family has £450.00 savings and £19000.00 unsecured debt would make it difficult to claim that new labour saving and investing policies are anything other than useless.

pslewis

So? You ain't got any savings and therefore it's Labours fault??

Typical Chav response!!

Why not get off yer bums and earn some money then? Like we did in the old days? you lot want everything on a plate!

Pete

Petem95

But now under Labour many people are better off just doing **** all and claiming benefits than they would be working.

Scroungers get everything on a plate, those who make the effort are raped for every penny NL can get their out of them

Mark Miwurdz

Labour have FORCED students to go on to University???

NO but they have made it policy to get every other school leaver into tertiary education. Why?

Labour have told students to do a 'mickey mouse' degree so they have a non-job at the end???

NO but the policy above has driven 'universities' (mostly 2nd former polytechnics) to offer largely useless vocational training which employers see no value in

Labour has turned our kids into monsters???

NO but their welfare policies have encouraged single parentage and even you should appreciate the value of the family unit given your very advanced years

It's about time people started taking responsibilty for their own actions and stopped whining and moaning and crying that, "It's someone elses fault that I am a failure"!!!! Couldn't agree more and that's why when Labia are voted out next time, we'll be rid of the nanny state and meddling that they're obsessed with and make people accountable for their actions.

Grow up, smell the coffee, get off your ***** and improve things if you don't like them!! I don't like coffee and I'll make sure your my tick doesn't go in the box marked Labia at the next election.

fast bloke

Can you not see the double standard for the bullsh*t pete? You are happy to give labour the credit for encouraging 22k savings per household, but you don't blame them when the vast majority of that saving belongs to 12% of the population.
If they could/would do something to encourage 'middle income' people to save then they would deserve credit. As it stands they neither deserve credit or blame for the current state of savings. - The do deserve to be criticised for the pension gap though. Stakeholder pensions? - Someone obviously didn't think that one through. People don't buy pensions. They are sold pensions. Ask the seller to sell it without making any money and they will soon find something else to sell, or they will go and sell 'normal' pensions to the higher earners.

alcazar

iTrader: (2)

Try YES in the case of students. No bank loan, no training

YES: WHAT ELSE is there for the vast majority of youths in Bliar's Britain?

Most shouldn't even be at uni. Labour have made it almost a requisite, (no other choices, encouraged to do a degree....they admit they would like 75% of the population to have a degree of some sort). And WHAT sort can loads of those do? Mickey Mouse ones, that's what No matter though, it keeps 'em off the scruffy Scots Pension Thief's massaged unemployment figures, doesn't it?

And those that CAN'T, or don't want to go to uni? Having their training places taken away from them because the employers prefer to take on fully trained Polish and other Eastern European workers at pitiful wages. WHY is Bliar's government one of only THREE in the EC that put NO restrictions on the amount of Eastern European workers who could come?

Alcazar