The Past

The past is a foreign country: they do things differently there.

L. P. Hartley   1895-1972 

Saturday, 21 August 2010

Savings .. gone gone gone.

New research by Schroders suggests that 31% of adults are drawing on savings and investments to supplement their income and help pay for living costs.

I would not have thought that this was news - in a time of reducing income and pensions plus no access to credit then this is the only option open to many. It's not rocket science.

Why save ? - poor interest rates give you a pittance on your capital and as you near your end on this planet someone will be after your saving whether the central government or local town hall.

What's wrong in saving up your money and then spending it on yourself ? - this is what happened before credit cards were introduced.

Many of the younger " want now " generation would be amazed if you suggested that if they wanted to purchase something then they actually saved up for it first.


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W. H. Davies  1870-1940