How much more rise in interest rate rise can you take?

Are you cutting down on spending now to help you ride the worst when it comes? or do you think it not going to get much worst?

What about those with savings? Its not doom and gloom for everyone. They can rise as much as they like as far as I'm concerned.

I was on a variable rate mortgage but switched a while ago to a fixed rate so I'm not bothered what happens at the moment. Not really got much savings, just shares so doesn't really effect me there either. Couldn't vote as there wasn't an option for that.

Wouldn't waste my time with savings anyway, so interest rate doesn't affect me there.

If I had money it would be invested in the Stock Market.

I'm ok as I recently changed my fixed rate mortgage for another lower rate fixed rate. Of course, the independent financial advisor thought I was mad and kept trying to flog a variable rate. The interest rate will keep on falling to 2% he said ;-)

Good thing I didn't believe him!

I don't have anything on credit so couldn't really give a toss :D

I think any increase (even the bust of the early 90's) would be managable.

I'd just work all the hourse god sends until things calmed down.
Although I wouldn't want the rate to go above say... 7%.

I'm planning for the future right now as far as my personal qualifications are concerned so I'm hopeful that I'll have an excellent wage should the worst happen!

Originally posted by DaBouncer
I think any increase (even the bust of the early 90's) would be managable.

I'd just work all the hourse god sends until things calmed down.
Although I wouldn't want the rate to go above say... 7%.

I'm planning for the future right now as far as my personal qualifications are concerned so I'm hopeful that I'll have an excellent wage should the worst happen!

Hope your qualifications are in plumbing DB! Did you see the guy in todays paper who was a PhD molecular biologist on 23k giving up his job to retrain as a plumber in order to double his salary. :D

As a matter of fact plumbing is the exact course I've signed up for!

So yes Mo that's correct!

Go south young man

Heathrow Terminal 5 – A Nice Earner !

Skilled building workers involved in the construction of the new Terminal 5 at Heathrow can expect to earn up to £55,000 a year. This is the result of a pay and conditions deal that’s been agreed between one of the main contractors and three trade unions. Under the deal electricians can expect to earn up to £75,000 and unskilled labourers should be able to earn as much as £32,000 a year. The agreement is expected to set the rate for other contractors.

British Airports Authority (the owners of Heathrow) are planning to recruit hundreds of refugees to work on the project and intend advertising for workers in cultural centres and places of worship.

Any Wise Owls who are interested in applying should contact either their local Jobcentre Plus or Laing O’Rourke the building contractor.

Terminal 5 is expected to cost nearly £3 billion to build and is scheduled to open in 2007.



http://www.wiseowls.co.uk/news/feb2003.htm

Originally posted by Skatiechik
Wouldn't waste my time with savings anyway, so interest rate doesn't affect me there.

If I had money it would be invested in the Stock Market.



It is a good idea to have savings AND investments, actually. No point in risking ALL of ones assets on the stock market as things can go pear shaped. A good portfolio of savings and investments is the best option, not putting all eggs in one basket.

Originally posted by t020
It is a good idea to have savings AND investments, actually. No point in risking ALL of ones assets on the stock market as things can go pear shaped. A good portfolio of savings and investments is the best option, not putting all eggs in one basket. A very good point and quite accurate too.