Saving for a Rainy Day
I grew up when it was encouraged to put money away for a rainy day. Credit was something to be avoided, if you wanted something you saved for it.
Back then saving you could even increase your money by earning interest.
Natwest bank had a series of Wade piggy banks to collect for the younger customer, which was a hugely successful campaign and many of my friend took advantage of these sort of young saver accounts. Twenty five years on and things are very different.
Today credit is the way most people pay for the things they want or need, with steep interest payments this way of purchasing ensures that people have little money to save.
If they do have money to save, the best interest rates lock them into not moving their cash for two-five years sometimes longer, not much good if they need to access it for some reason.
Things are changing but not for the better, this article shows how it is likely that Natwest and RBS are likely to start charging businesses for any money they may have in the bank.
If this happens, there will be knock affects for us all, I would guess prices may rise to cover the new bank charges.
How long before normal people like you and I are charged to save for a rainy day ?
The good news is that there is a solution to banks.
We all need banks in this day and age of direct debits and internet banking, but we do not have to put our savings with them.
Depending on the amount you have you could buy property, of course this isn’t open to everyone.
However Gold is.
From as little as 1 gram at a time
(around £40 *)
You could grow your gold reserves in a
secure vault or have it delivered to you.
Then when you want cash for that rainy
day, you simply sell it back to the company
and the funds are placed in your bank account.
Although it is fair to say that Gold prices do go down
as well as up, the longer you leave your Gold the
more likely it is the price will rise.
In the last year Gold has risen 35% ,
I don’t know where else you would get
that sort of return.
Gold could also offer protection from any banking crisis. The way the World and banking system is today , to have a store of wealth away from the banking system can only be a wise decision.
All you need to do is look at the chaos the banks in Greece caused last year to see that nothing is impossible, when it comes to banks caring for your money.