Lack of interest makes me gamble
Today the Bank of England will get on with their string pushing efforts in an attempt to revive the economy, they will fail. At the moment all interest rate cuts have done is steal money from savers and they haven’t benefited borrowers whose rates remain HIGHER than the same time last year. As savers outnumber borrowers six to one, all the rate cuts seem to have done is impoverish the prudent. With cash now trash, I fancy a gamble with my money.
Nope, I’m not going to lump on a seller at Wolverhampton this evening, I’m going to buy some premium bonds. With the yield on normal savings virtually zero, almost certainly zero after today’s MPC meeting; premium bonds seem worth a punt. OK your chance of winning a big prize is very small but if you are going to earn nothing on the money anyway it seems like a bit of a value bet. Especially when you consider you can’t lose your stake.
Category: Using Bet Angel
