What to do with money.

[Jonny69]

I'm sure there must be a fair few of you on here with savings doing nothing. What are you doing with your money?

I think my savings account is down to less than 3% now and while (hopefully) I'll be needing the money in the next year to buy somewhere I'm not really sure what to do with it.

[Del Lardo]

Spending it while I can.

£ with be worth less than the Zimbabwe dollar soon and all the banks will fail. Within 18 months we'll be bartering for wool to keep warm in the winter and driving on the motorway will be akin to Mad Max

[/scaremongering]

[Desmo]

Originally Posted by Del Lardo

driving on the motorway will be akin to Mad Max

****ING COOL

[Haly]

Originally Posted by Desmo

****ING COOL

[Jonny69]

Originally Posted by Del Lardo

Spending it while I can.

£ with be worth less than the Zimbabwe dollar soon and all the banks will fail. Within 18 months we'll be bartering for wool to keep warm in the winter and driving on the motorway will be akin to Mad Max

[/scaremongering]

Genuine worry though, the banks have never all gone balls up like this before so who knows what will happen to our currency. Thing is, I can't afford for mine to become worthless.

[cleanbluesky]

Exchange it return for goods or services, like everyone else does.

[A Place of Light]

Originally Posted by Jonny69

I'm sure there must be a fair few of you on here with savings doing nothing. What are you doing with your money?

I think my savings account is down to less than 3% now and while (hopefully) I'll be needing the money in the next year to buy somewhere I'm not really sure what to do with it.

If you've got a decent amount, then buy Gold.

[AboveTheSalt]

Originally Posted by A Place of Light

If you've got a decent amount, then buy Gold.

What is a decent amount and what the charges involved (commission on trades, secure storage, etc.)?

Have you actually done this?

[A Place of Light]

Originally Posted by AboveTheSalt

Have you actually done this?

Unfortunately no, as my savings are all tied up elsewhere.
However, I would be looking into this as the general opinion seems to be that the gold bubble hasn't topped out just yet.

Originally Posted by Bakez

yes i would also recommend buying gold while it is at an all time high and the worst of this 'crisis' seemingly over

1) Gold prices dropped aprroximately 5% this week, ergo they cannot be at an all time high at the moment, can they?
2) If you look at the past ten years, gold prices have been on an upwward trend, and there is no indication that this fact has changed and won't carry on for the forseeable future.
3) The worst of this "crisis" is over? Source?

[A Place of Light]

Originally Posted by Bakez

lol at asking for a source

you dont have 'sources' for things like that you make your own mind up using all the other information that is out there rofl..

And that information would be???
Given that everyone and their uncle is predicting that unemployment is going to rise significantly, the FTSE 100 is almost at the lowest point it's been in the last 6 months (and most definitely on a downward turn at the moment), the housing market is dead in the water and the banks don't have enough confidence between them to lend each other a fiver, you'll forgive me if I don't get out the bunting based on your "opinion".

Originally Posted by Bakez

gold has been on an upward trend and has tried to break through $1000 more than once over the past 2 weeks and hasnt suceeded.

where is your 'indication' that gold will continue to rise?

With a little fluctuation, gold has increased in value by approximately 40% over the last 6 months. Many Industry analysts (people that know more than you or I) share the opinion that it hasn't peaked yet in the short term, and in the long term gold consistanly increases in value.

Originally Posted by Bakez

it may well rise but plundering thousands into gold for the chance of it getting to 1200 but with the bigger chance it will either stay the same or fall is stupid

Investing anywhere but in a bank account is a risk While there is never a "sure thing" out there, some investments look better than others.

Originally Posted by Bakez

by the time u have paid trade fees and tax unless you literally do have hundreds of thousands investing is practically a waste of time unless you planning on keeping the stock for 10 years and getting the divi which less face it is a waste of time as well

As I said in my first post, it al depends on how much the OP has to invest.....plus what kind of return/risk he desires.