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#saving

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acemaxx

The neoclassical assumption that #saving provides investors with “capital”, i.e. that they receive funds from savers that they can use to invest, is wrong. #saving by private households causes a revenue deficit for companies, which generally forces them to reduce their expenditure.

Emeritus Prof Christopher May

The problem with financial services' campaign to reduce the Cash ISA allowance to 'encourage' people to put more money into stocks & shares, is it ignores why people do not invest in the stock market...

They've seen the crisis, when people lose loads of money & are risk adverse;

They just don't trust financial services to put customers' interests first; indeed there is significant evidence they are right & a Labour Chancellor who takes bankers not costumers' side on such matters.

#saving
Emeritus Prof Christopher May

As Financial Services continue to push Rachel Reeves to reduce limits on Cash ISAs, its worth noting that if we think that diversification is the key to safe investing, then the ISA environment *does* look relatively well balanced... cash ISAs have been slowly growing, but not as fast as stocks & shares ISAs.

The bankers are not disinterested here, they're after the management fees; savers should be left to make their own judgement on risk, not be steered into riskier funds

#saving#politics
Ivor

Got a new sim card from Lebara yesterday. It's introductory £1.20 per month and goes up after 6 months so Money Saving Expert says overall cost will be £3.05 per month over 12 months.

Currently with Tesco (uses 02) and that's going up to £17.80 per month.

I also still have a business bank account with Santander that costs £7.50 per month to maintain, with nothing going in or out. I kept it just in case but I simply volunteer or barter now. Closing it.
#Saving

Emeritus Prof Christopher May

Patrick Jenkins (FT) suggests we should downgrade cash ISAs to encourage 'more economically productive behaviour' by which he means investing in shares, arguing that this is what has enriched the US' middle classes.

So, he might to ask why people don't choose to trust the financial services sector on share holding?

and then, he might wonder what that real result in the US has been; inequality & exploitation.

Rather than take away peoples' choice perhaps what's behind the choice?

#saving
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