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Interest rate rise

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1Interest rate rise Empty Interest rate rise on Fri Aug 03 2018, 12:38

wanderlust


Nat Lofthouse
Nat Lofthouse
Makes total sense for the economy and is great for savers like me, but I can't help feeling it's going to affect lots of people badly.
This year, British families became net borrowers for the first time in three decades and a move like this may well see an end to the cheap credit boom that has been building up. 
If my kids are anything to go by, I'm not sure how the younger generation will handle the idea of living within their means as a lot of people have never experienced anything but low interest rates and there's almost a feeling of entitlement to own "nice things", let alone have the basics.

2Interest rate rise Empty Re: Interest rate rise on Fri Aug 03 2018, 17:09

luckyPeterpiper

luckyPeterpiper
Frank Worthington
Frank Worthington
As the rate remains quite low it's not too bad for us but of course that depends on how much the banks decide to hike their own rates. I'm just glad it didn't happen six months ago because we'd have really struggled to pay the mortgage thanks to me being on SSP. As it was we pretty much drained our savings keeping up with it. Thankfully I'm now back at work and Wendy was recently (and deservedly) promoted at work so we are able to put more away than we expected.

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