Interest rates

585 = never give up said:
This is a terrible time for our young people - the countries future.
Savers don't benefits from the situation either, as the saving rates barely improve.
The greedy banks & building societies only care about their shareholders.
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Interest rates have gone up my account has gone from 0.4 % to 4% (fixed for two years ) ,not fantastic but better than a kick in the bollocks.
 
Wizaard said:
Premium Bonds winnings outweigh anything the banks gave given me in interest.
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Apparently they changed something about a year ago & they're not as good as they were. I can't for the life of me remember exactly what, but we were told by someone who worked there. My pension pot (drawdown) is now only 10% down as opposed to a frightening 20% at it's worst.
 
Sooty59 said:
Apparently they changed something about a year ago & they're not as good as they were. I can't for the life of me remember exactly what, but we were told by someone who worked there. My pension pot (drawdown) is now only 10% down as opposed to a frightening 20% at it's worst.
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I bought a chunk of Premium Bonds in June and have won at least £25 every month since, with the best month being £175.
 
585 = never give up said:
This is a terrible time for our young people - the countries future.
Savers don't benefits from the situation either, as the saving rates barely improve.
The greedy banks & building societies only care about their shareholders.
Click to expand...
This has been a terrible time for young people for near on three years we locked them away when it doesn't affect them for a pandemic,screwing them over now with costs and they'll be the ones have to pay back our huge debt for years to come.👎
 
poolseasider said:
This has been a terrible time for young people for near on three years we locked them away when it doesn't affect them for a pandemic,screwing them over now with costs and they'll be the ones have to pay back our huge debt for years to come.👎
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And yet they are still the lowest demographic to turn out to vote.
 
The difficulty isn't particularly the interest rates, they are heading back to the long term average having been ridiculously low for far too long.

It's the impossibly high house prices and rents relative to income.

For most, it's live with a parent to save a deposit, or rent forever.

Add on the debt from the Ponzi scheme they call higher education and it's going to be difficult.

My eldest has stayed at home to do his policing degree.

My daughter is likely to make the same decision for her paramedic course.

It takes the edge off the so called 'university experience' but they don't have parents who can back roll them whilst they are away.

At least they've both got obvious careers - that's plenty do a degree without any obvious destination.
 
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1966_and_all_that said:
They may not all be stupid but they are largely disinterested.
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Hasn’t that always been the case? My mum and dad made a big thing out the fact I was voting age back in the day, neither I or any of my mates were interested in voting. It was frustrating for my parents. I started taking my vote seriously in my mid 30s. Roll on a number of years…I made a big thing of it when my 2 were voting age…they weren’t interested….that frustrated me. I just don’t think it’s on most young people’s radar. Not sure how that can be changed.
 
This is Ska said:
Hasn’t that always been the case? My mum and dad made a big thing out the fact I was voting age back in the day, neither I or any of my mates were interested in voting. It was frustrating for my parents. I started taking my vote seriously in my mid 30s. Roll on a number of years…I made a big thing of it when my 2 were voting age…they weren’t interested….that frustrated me. I just don’t think it’s on most young people’s radar. Not sure how that can be changed.
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Yes it has largely been the case for a long time. The point from the posts above is that it is young adults who are often the most affected by adverse political and economic conditions. Social science education in mainstream schools needs to have a far greater focus in the curriculum.
 
1966_and_all_that said:
Yes it has largely been the case for a long time. The point from the posts above is that it is young adults who are often the most affected by adverse political and economic conditions. Social science education in mainstream schools needs to have a far greater focus in the curriculum.
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I think your point about political literacy is a fair one.

Joseph Rowntree Reform Trust are currently funding a number of digital campaigns to get an additional million voters but the next election.

They are targeting young people, people from minoritised racial groups and renters as these three groups are the last likely to vote.

I really want to do some place based work with them, as Hartlepool has a faking turnout, but that's a longer process.

It'll be interesting to see if digital campaigns have the desired effect; I have my doubts but that may be because I'm a 50 year old white bloke who is cynical 🤣
 
TSSeasider said:
I think your point about political literacy is a fair one.

Joseph Rowntree Reform Trust are currently funding a number of digital campaigns to get an additional million voters but the next election.

They are targeting young people, people from minoritised racial groups and renters as these three groups are the last likely to vote.

I really want to do some place based work with them, as Hartlepool has a faking turnout, but that's a longer process.

It'll be interesting to see if digital campaigns have the desired effect; I have my doubts but that may be because I'm a 50 year old white bloke who is cynical 🤣
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What you describe sounds interesting and worthwhile and you don't sound cynical. I have one simple idea. Having been out of education for many years I may be tilting at windmills but my idea is this: alongside the two/three year GCSE courses studied by 14-16 year olds, there should be a social education course of study. It should include both the mechanics and philosophy of politics in our country, domestic economics (family budgeting, understanding loans, direct debits and mortgages), constructing CVs and understanding the basic principles of justice, citizens' rights and their social responsibilities.

When (if) these basics have been taught in the past they have either been presented as an unexamined 'general studies' add on that have been treated lightly by students as being of little consequence in their 'exam focussed' minds, or they have been offered as discretionary courses within the GCSE framework. My idea is that they be bundled into a mandatory Social Education Certificate. This certificate would not be graded, rather it would be simply pass or fail. However passing it would be the key to unlocking the awarding of GCSE certificates earned by students. I believe that this arrangement would both focus students' minds on the subject matter and provide them with a foundation of social skills to take into the adult world.
 
1966_and_all_that said:
What you describe sounds interesting and worthwhile and you don't sound cynical. I have one simple idea. Having been out of education for many years I may be tilting at windmills but my idea is this: alongside the two/three year GCSE courses studied by 14-16 year olds, there should be a social education course of study. It should include both the mechanics and philosophy of politics in our country, domestic economics (family budgeting, understanding loans, direct debits and mortgages), constructing CVs and understanding the basic principles of justice, citizens' rights and their social responsibilities.

When (if) these basics have been taught in the past they have either been presented as an unexamined 'general studies' add on that have been treated lightly by students as being of little consequence in their 'exam focussed' minds, or they have been offered as discretionary courses within the GCSE framework. My idea is that they be bundled into a mandatory Social Education Certificate. This certificate would not be graded, rather it would be simply pass or fail. However passing it would be the key to unlocking the awarding of GCSE certificates earned by students. I believe that this arrangement would both focus students' minds on the subject matter and provide them with a foundation of social skills to take into the adult world.
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I like the thinking, I'm not sure it should be a barrier to unlocking the other GCSE's; but the principles of broader citizenship are hugely important.
I worry about the undue Political interreference - unionised teachers teaching about this stuff could struggle to remain impartial and talk about the various great political ideologies in a neutral way which fosters critical thinking - but it's possible something like Parliamentary outreach could expand their role into schools?

More widely, this is possibly the only reason I'd ever consider lowering the voting age - it gets them in early and hopefully forms a habit for life.

There's the role of parents too - if you're not politically engaged because you feel politically irrelevant - it's hard to motivate your children to take an interest and that leads to a cycle of disengagement which only suits politicians and not citizens.
 
TSSeasider said:
I like the thinking, I'm not sure it should be a barrier to unlocking the other GCSE's; but the principles of broader citizenship are hugely important.
I worry about the undue Political interreference - unionised teachers teaching about this stuff could struggle to remain impartial and talk about the various great political ideologies in a neutral way which fosters critical thinking - but it's possible something like Parliamentary outreach could expand their role into schools?

More widely, this is possibly the only reason I'd ever consider lowering the voting age - it gets them in early and hopefully forms a habit for life.

There's the role of parents too - if you're not politically engaged because you feel politically irrelevant - it's hard to motivate your children to take an interest and that leads to a cycle of disengagement which only suits politicians and not citizens.
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Spot on. The teaching of social skills and social responsibility in educational establishments really does need to be pared back. Teaching children that it'll all come good with just the correct (metropolitan) attitude on their part is an out-and-out lie for many in this town in particular. It also absolves the state of their own obligations.

How on earth can adults speak seriously about budgeting (for example) with the economy in the toilet and even those semi well-off struggling to meet basic needs? It doesn't make any sense.

I'd like the schools to stick to the subjects - taught to a good standard - and leave the rest to parents with the state providing the opportunities on leaving school. It's not hard.
 
Gods honest truth said:
Interest rates have gone up my account has gone from 0.4 % to 4% (fixed for two years ) ,not fantastic but better than a kick in the bollocks.
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Better than we've seen for a while but there are more competitive rates around. I've just taken out a one year fixed term bond at just under 5%.

Going back to the OP, interest rates are still well below where they should be.
 
TSSeasider said:
I like the thinking, I'm not sure it should be a barrier to unlocking the other GCSE's; but the principles of broader citizenship are hugely important.
I worry about the undue Political interreference - unionised teachers teaching about this stuff could struggle to remain impartial and talk about the various great political ideologies in a neutral way which fosters critical thinking - but it's possible something like Parliamentary outreach could expand their role into schools?

More widely, this is possibly the only reason I'd ever consider lowering the voting age - it gets them in early and hopefully forms a habit for life.

There's the role of parents too - if you're not politically engaged because you feel politically irrelevant - it's hard to motivate your children to take an interest and that leads to a cycle of disengagement which only suits politicians and not citizens.
Click to expand...
I think at the14-16 age range there would be little scope for politicising the content and context.
 
rockontommy said:
Spot on. The teaching of social skills and social responsibility in educational establishments really does need to be pared back. Teaching children that it'll all come good with just the correct (metropolitan) attitude on their part is an out-and-out lie for many in this town in particular. It also absolves the state of their own obligations.

How on earth can adults speak seriously about budgeting (for example) with the economy in the toilet and even those semi well-off struggling to meet basic needs? It doesn't make any sense.

I'd like the schools to stick to the subjects - taught to a good standard - and leave the rest to parents with the state providing the opportunities on leaving school. It's not hard.
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I think you underestimate the nature of what could be taught and, importantly, the context in which it should be presented.
 
tommytwojags said:
Better than we've seen for a while but there are more competitive rates around. I've just taken out a one year fixed term bond at just under 5%.

Going back to the OP, interest rates are still well below where they should be.
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As a matter of interest where do you think rates should be?
 
Mexboroseasider said:
As a matter of interest where do you think rates should be?
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With inflation at 9.9%, five times the Bank of England target, rates will inevitably continue to rise. It seems that low interest rates are unlikely for the foreseeable future. We can expect rates of up to 5% from now on. With the USA Federal Reserve anticipating rises to 6%, pressure will remain on the BoE to increase further. Hargreaves Lansdown predict that interest rates may reach anywhere between 3.5% and 4.75% but warn that this is fraught with uncertainty.’
 
Ouch. Up they go again.

It’s definitely biting in now along with prices in the shops and of course energy.
We still haven’t seen the mass housing casualties yet but sooner or later spending is going to dry up for the majority of the under 50s
 
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