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#savings

4 posts4 participants0 posts today
Public
Emeritus Prof Christopher May

Like Rachel Reeves, Maria Luís Albuquerque (EU financial services commissioner) has no doubt been lobbied the financial services sector;

she is making similar calls for people to be 'incentivised' to use their savings to invest in stocks & shares, not just use savings accounts.

What they both should recognise is this is an issue of both a lack of trust (in financiers) & an issue of precarious retirement making people risk adverse with their savings for old age.

#economics #savings
h/t FT

Public
Dustin Tungilik MacDonald

Hey #Canadians looking to #SaveMoney lower our #CarbonFootprint and #reduce #FoodWaste then I recommend checking out #FoodHero
foodhero.app.link and if you sign up please consider using my referral code: dustinm10 then we will both get a credit. I've #saved $267 in about 6 months. Only once we got food that was bad, it was prepared gnocchi and they refunded it right away without hassle. It's good food at an even better #price
#Canada #food #money #savings

Public
Ondine

I've just heard about a German fintech Trade Republic. They offer interesting interest rates compared to our French #banks (2.75% against 2.4%). And while traditional French #savings options pay out only once a year, Trade Republic says it does so monthly.

Coincidentally, yesterday there were adverts about it on French TV and on business news sites.

Can we trust this company? Is it safe? The product is new and hasn't stood the test of time. Is it really known in #Germany?

#traderepublic
Public
Emeritus Prof Christopher May

Claims about the better return on stocks & shares ISAs against cash ISAs do two things:

1. they flatter stock market returns by carefully picking the period that they report returns for, wilfully ignoring that many savers are not wanting long-term commitments but are parking money they may well need in the medium term;

2. many cash ISA holders explicitly do not want to risk their capital for the reason above!

Rachel Reeves should ignore the bankers & listen to voters....

#savings
Public
LilMikeSF

Murky #DOGE claims of saving taxpayer billions proving disingenuous at best...one #ICE contract amounted to $8 million in "savings" after cancellation but was misquoted by #MelonHusk operatives as $8 #Billion ...

#CNN picked apart DOGE’s claim to have saved $1.9 billion from #USAID contracts but actual #government cost of deal was only $55 million over several years.

The dogged DOGE team claim to have saved #taxpayers $232 million by canceling an IT service contract at #SocialSecurity but the vengeful Dept of Gov #Efficiency document raiders were only off by about $231 million and the #modernization of dept computers will still need to be done after killing deal. So who will take the job now...could it be perniciously present US govt contractor #Elon?

Another announcement touted elimination of a non-binary choice option removed from forms between the male and female sexes, something govt had already spent approx half million to implement. Does eliminating a #Trans option mean a cost #savings if you already created the option and then dump it?

theintercept.com/2025/02/20/do

Public *
beSpacific

They Lie About Everything All Day Every Day. #coup Do not believe any of what they say. #propaganda, #lies pro #Russia anti #america Do not watch mainstream media they lie for him. #DOGE Quietly Deletes the 5 Biggest #Spending Cuts It Celebrated Last Week - The cuts, highlighted on an earlier version of “wall of receipts” posted by #ElonMusk team, contained mistakes that vastly inflated amount of money saved. nytimes.com/2025/02/25/upshot/ #trump #cuts #lies #government #spending #savings #budget

Karoline Leavitt, the White House press secretary, talking about the Department of Government Efficiency at a briefing last week.
The New York Times · DOGE Quietly Deletes the 5 Biggest Spending Cuts It Celebrated Last WeekBy David A. Fahrenthold
Public *
Dave Fenichel

Quite a wonderful set of observations/recommendations from Jason Sattler on what can and needs be done to reverse the #dismantlement and theft of #public agency and #publicGoods (which includes the Public's #savings & #investments currently being plundered; commodified; converted to #stockBuybacks #PE & free capital).
#courtsAndCrowds #noKings #federalWorkers #workers #labor #mobilization #newLeadership #leadership #nonCapitulation #nonCollaboration #newReconstruction

thelastbillionaires.com/why-we

The Last Billionaires · Why we need a bunch of new Democratic leaders to take over—like right nowThe system that got us here can not get us out. Sometimes, no matter how deeply you feel something, words fail. In the closing minutes of the latest episode of Next Comes What above, Andrea Pitzer offers an explanation I’ve been in desperate need of. She nails why many
Public
Emeritus Prof Christopher May

Before the financial services sector try to dismember the cash ISA, perhaps they might first think about the £67bn in under-performing 'dog' funds; managed funds (taking big fat fees) but which have under-performed stock indexes in the last three years....

But of course in a sector patterned by big payments for under (no) performance, all they're interested is in getting rid of a competing product for savers so they can capture more fees!

Leave cash ISAs alone!

#investments #savings
h/t FT

Public
Emeritus Prof Christopher May

If Rachel Reeves does cave into the growing pressure from financial services firms to scrap cash ISAs to 'encourage' more savers to invest in stocks & shares, ignore claims its to enable savers to get bigger returns or that its a part of a 'growth' strategy.

Its entirely about financial services firms wanting to have a larger group of people to charge for their (frankly) pretty inconsistent & over-priced services.

The bankers are not trying to help you... just themselves!

#savings
h/t FT

Public
Emeritus Prof Christopher May

So not satisfied with trying to get its hands on pension fund surpluses, I see the financial services sector, is now trying to convince Rachel Reeves to downgrade tax relief(s) for cash ISAs because too much money is tied up in this low risk saving instrument which (they say) could earn better returns in stocks & shares...

Of course, that also means they would the get the fees, and savers would be exposed to more risk of losing their capital; exactly why many choose cash ISAs!

#savings
h/t FT

Public
NiceMicro

After half a year on hiatus, Nice Micro Monday returns with an episode on finances with vengeance (and a spreadsheet) to take a look at the sobering reality of retirement savings, and how does it affect your returns if you don't start saving and investing as soon as possible.

Want to know, how much does it mean after 30 years, if you skip your daily pumpkin spice latte? Watch now on TILVIDS!

tilvids.com/w/hN8pJwzHvp8PtzYL

PeerTubeYou need to start investing early - Nice Micro Mondays 38By Nice Micro's channel
#NiceMicroMonday#Finance#CompoundInterest
Public
🌅Rí Rua🏔️

I don't know how many of yous bank with Monzo but they're running a 1p challenge.

Someone on their forum created this sheet for how much you'd need to save per month (set aside to make sure you make the end of the challenge)

I'm giving it a go, it seems totally do-able and one that, with some planning, won't be noticed. If anything will help cover bills in Jan/Feb next year when work's dried up.

#Monzo#1PChallenge#Savings
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