Your Cash

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Your Cash

Post by Doc on Tue Jun 19, 2012 9:04 pm

I read an article yesterday about people who have started to keep their money under the bed. I know it sounds crazy, but some obviously are of the opinion that having money in the bank actually costs you. banks are paying next to nothing in interest but charge you for the privilage of using them. So why not put spare cash into your pension, well many have seen their pension fund being decimated over the past 4-years, so living in hope that the fund will grow soon, is also a big gamble for some. The Eurozone crisis looks unlikeley to end anytime soon, as they dither around because of self interest, which defeats the object and so called values of a single currency.

So if you won a few quid would you just go out and spend it, or try and find somewhere safe to hide it?
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Re: Your Cash

Post by Davie on Tue Jun 19, 2012 9:09 pm

Are you trying to tell us something Doc? That mystery winner from the Euromillions never came forward did they? Wink
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Re: Your Cash

Post by diggers on Tue Jun 19, 2012 9:10 pm

Why would you keep it under the bed if you have guaranteed ISA rates ? You can also achieve around 4-5% on certain mid-long term bonds which are all secure investments.
If you know your way around the stock market a lot of stocks and shares ISA's will do very well over 5 years.
Under the mattress is for retards. If the banking system collapses I odnt think having a fe quid under the bed will help, we will be needing wheelbarrows of cash to buy a pint of milk.

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Re: Your Cash

Post by BlueCoverman on Tue Jun 19, 2012 10:02 pm

George Best had the right idea spending it on wine, women and song and then just wasting the rest...

Seriously for a moment Diggers is spot on with his remarks, the only people keeping money under the mattress, other than the ones he mentions, are pikeys and those hiding it from the taxman. Although pikeys would already be included in the retard comment...
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Re: Your Cash

Post by Doc on Tue Jun 19, 2012 10:21 pm



Not so long ago we could get some good high interest products giving 6%, but now we have to look at long term bonds which tie your cash up for a few years, and net you less. I'm hoping Miura clubs are an investment opportunity, just like fine wines Cool
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Re: Your Cash

Post by BlueCoverman on Tue Jun 19, 2012 10:55 pm

I am sure that the Miura clubs will make you much more than 6% in side-bets Doc!
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Re: Your Cash

Post by raycastleunited on Wed Jun 20, 2012 12:08 am

Why would you keep your cash under the mattress?

If you're Greek, Portuguese or Spanish it might be a good idea. If you have 5,000 euros in a bank in Greece, that might soon become Drachma, and then devalue maybe 50%. Probably safer to withdraw it while it's still euros, and then convert it to Drachma later on at a much better rate.

The banks are terrified of this happening. A run on a bank is the nightmare scenario.
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Re: Your Cash

Post by Doc on Wed Jun 20, 2012 2:21 am

Ray The problem with investing in pensions is that they all pump money into bank shares, and we've seen what can happen. Is anywhere safe? reputable banks over here have a government guarantee to the tune of £85k maximum. Need to find a bit of insider trading me thinks
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Re: Your Cash

Post by raycastleunited on Wed Jun 20, 2012 2:40 am

It's not rocket science, think of it as a triangle where you have to balance 3 things:

Security - am I going to lose my money?
Liquidity - how quickly do I need to access it?
Yield - what return am I going to get?

If you favour one of these elements, you have to sacrifice some of the other two. You can't prioritise all three!
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Re: Your Cash

Post by BlueCoverman on Wed Jun 20, 2012 4:15 am

Similar could be said of getting married Ray!
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Re: Your Cash

Post by BlueCoverman on Thu Jun 21, 2012 11:10 pm

Just as a slightly amusing aside to this thread, a friends builder had acquired around £3000 in private cash jobs. Going on holiday a couple of weeks ago and feeling slightly nervous about leaving that amount of cash in the house, he entrusted it to his sister who has a safe in her house.

Whilst sister and husband were out at the weekend, house was burgled, safe smashed open and contents including his 3k all stolen!

Perhaps the thief was working on behalf of Inland Revenue!
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Re: Your Cash

Post by raycastleunited on Thu Jun 21, 2012 11:30 pm

BlueCoverman wrote:Similar could be said of getting married Ray!

Yes, except getting married means no cash left for me to invest for a long long time! Sad
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Re: Your Cash

Post by BlueCoverman on Thu Jun 21, 2012 11:50 pm

I am sure that the dividends will more than make up for it Ray! Congrats and good luck
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Re: Your Cash

Post by venice1 on Fri Jun 22, 2012 2:40 am

raycastleunited wrote:
BlueCoverman wrote:Similar could be said of getting married Ray!

Yes, except getting married means no cash left for me to invest for a long long time! Sad

It may be time to consider your golf bag's numerous extra pockets as the 'new' cash-under-the-bed safe and your soon-to-be-wife as the 'new' Inland Revenue. My brother swears by that method (until he gets caught).
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Re: Your Cash

Post by Davie on Fri Jun 22, 2012 5:49 am

I wish I had some cash to hide under the bed!
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Re: Your Cash

Post by BlueCoverman on Fri Jun 22, 2012 7:20 am

If your ex is a lawyer what do you expect! (Just a joke Davie, no offence meant!)
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Re: Your Cash

Post by Davie on Fri Jun 22, 2012 7:45 am

None taken Blue - I can't help but agree with you!
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Re: Your Cash

Post by Doc on Fri Jun 22, 2012 9:20 pm

Davie wrote:I wish I had some cash to hide under the bed!

Maybe now's the time that your daughter repays her father and goes busking Cool
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Re: Your Cash

Post by BlueCoverman on Fri Jun 22, 2012 9:56 pm

A friends daughter was in her first year at University, continually broke and always badgering him for money. After a while he got a bit fed up with it and said to her, "Look you have got plenty of spare time, you need to be looking for a part-time job"

A few weeks went by and there were no more requests from her for cash. Slightly surprised, and whilst on a visit to see her one weekend, he asked, "Do you need any money today darling?"

"No it's okay thanks Dad", came the reply, "I'm earning over £100 a night at the lap-dancing club"!
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Re: Your Cash

Post by 1GrumpyGolfer on Fri Jun 22, 2012 11:35 pm

Priceless, and for everything else there is mastercard. Accepted at all good lap dancing clubs and some crap ones too.

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Re: Your Cash

Post by BlueCoverman on Sat Jun 23, 2012 12:16 am

He wasn't best pleased and told her that wasn't quite what he had in mind! Funny how he never demured when she asked him for money after that!
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