Zero sum game

[Fatboy123]

Spoke to a friend last week who was rather pleased that September was the first month he hadn't carried a big balance on his credit card. For 15 months he was paying nearly 24%.

In other news.....

the same bank wrote to me to say that they were reducing the interest they were paying me on my Tax free cash ISA from 0.5% to 0.1%

 

[Fatboy123]

Worked out a long time ago that lending or borrowing money from friends is not the way to go!

 

[Fatboy123]

It's interesting that if I lend the bank £10k then they'd pay me £10 interest yet if they loan it to you on a CC they charge you £2,400.

 

[Fatboy123]

Premium bonds. So far my account is equivalent to 0.8% interest rate over the past year.

Off the top of my head I think I'm at 1.2% which makes me happy against the 0.1% the bank is paying BUT only if I don't think about inflation!