Posted tagged ‘savings interest rates’

Cursing all the way to the Bank

August 23, 2014

The good advice about changing bank accounts regularly does not apply to savers in the current economic climate. Most of the big players- Barclays, TSB, NatWest- have miniscule rates of interest in savings accounts. Even the much lauded ISA schemes have hit the buffers. With bank closures in this volatile world a possibility for any respected institution maybe the bad advice about saving your money under the bed should be adopted. Take your chances with fire and theft. Life’s a gamble.medscalewonder-woman-pow-money-box

We don’t literally keep the money under our bed, we amass the lolly in containers like piggy banks. These little money boxes are a staple of childhood and are now available in thousands of designs. The traditional piggy has been replaced by more colourful and contemporary varieties. Take your pick from the following modified banks: telephone boxes, beer cans, Kiss (they have merchandise for everything), fruit machines, King Kong on the Empire State Building and so on and so forth and fifth and sixth…

My sons always had a “piggy” on the go when they were knee-high to a grasshopper. They loved it when any spare loose change was inserted into the box. Delight on their faces was when there was no room for any more money and the contents were to be switched into their tax-free real bank account. This little trust fund grew through the years with constant visits to the bank until they reached eighteen. This was when my wife and I presented the bank card to them. A little birthday bonus.

Going further back my parents tried unsuccessfully to have a swear box in the house. Dad was against it but mum using all her political campaigning skills persuaded my sisters and me to vote for the Blasphemy And Malicious Patter Opposition Treaty (BAMPOT). The BAMPOT legislation was a raging triumph for puritanical righteousness for two weeks. There was only one person turning the air blue. After a fortnight Dad was bankrupt. The coffers of the swear box might have been brimming but Dad informed us that pocket money would have to be suspended. This forced a major re-think from the youngsters and the law was repealed. Mum relented with the proviso that dad try and curb his swearing by using substitute words. He did his best. Frank furt for that.