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>> No. 6710 Anonymous
3rd November 2016
Thursday 11:20 am
6710 Bank fuckeries
I bank with RBS, I had telephone and digital banking but it was cancelled because my account was compromised. I think I used a questionable internet cafe a couple of years ago. Since then, I've tried to set up digital banking again every time I've called the bank, because if you don't have it they have to run through a series of questions, so the offer to return to the service would come up every time. They'd send out the activation code, and it would never arrive. This happened at least 15 times, probably 20+, over the two years. I was on the phone to the bank yesterday, and the guy I spoke to sounded like he knew it was a fair fuck-up on their behalf, spoke to the manager and they sent me an email to reactivate my digital banking.

I'm wondering if I deserve to be compensated for this? There was a note on the system about, which this guy seemed to recognise as a significant error, but no one else has, for two years. I've had to use friends bank accounts and travel to the bank every time I need to make a transfer. I'm not usually one to take this path, but thinking back on it, it has been pretty annoying, and it has cost me money which I wouldn't have spent otherwise. I was just going to ring the bank, but I'm not sure what to say to them. Friends have received compensation from the bank for similar, relatively minor mistakes on the banks part. What do you lads think?
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>> No. 6711 Anonymous
3rd November 2016
Thursday 9:01 pm
6711 spacer
RBS, man they are cunts. I don't have any better advice for you, sorry.
>> No. 6712 Anonymous
4th November 2016
Friday 2:07 am
6712 spacer
You don't ask, you don't get. Figure out how many hours you spent dealing with their cockup, multiply it by your hourly wage, then send that calculation in a letter to RBS asking them to reimburse your costs.
>> No. 6713 Anonymous
4th November 2016
Friday 2:10 am
6713 spacer
Gees a bailout guvna
>> No. 6714 Anonymous
4th November 2016
Friday 11:55 pm
6714 spacer
>Friends have received compensation from the bank for similar, relatively minor mistakes on the banks part
Really? I've never heard of anything like this. Does it work with other companies? I ask because I've had a very similar situation with BT.
>> No. 6715 Anonymous
5th November 2016
Saturday 1:45 am
6715 spacer
BT are absolute cunts, and getting anything out of them is like getting blood out of a stone. They left my nan without a phone line for around a week (she has a panic button installed), then got arsey with me when I tried to sort it out on her behalf (what with her being old and me being the family's awkward git). During this time she suffered a minor fall and missed word of her sister's passing. Apparently BT didn't think to offer anything of their own initiative, and when I prompted them they thought £60, in the form of a fiver off her line rental for a year, ought to cover it.

>> No. 6701 Anonymous
2nd November 2016
Wednesday 11:05 am
6701 Car insurance.
I just need to clear my head by explaining this somewhere.

I bought a car this year. I got car insurance via a price comparison site. Dandy.

I checked the details recently - the purchase date of the vehicle on my policy is incorrect. Phone the insurer, they demand £150 as the premium increases. Bollocks. Told them to hold on (car insurance still valid for today).

Phoned the comparison website. They had a third purchase date in between the one the insurance company have and the actual purchase date.

I assume I messed up putting the numbers in the comparison site and then their system messed up passing that information on. I guess I should be liable for the difference in price between the comparison site's date and the actual date, but I shouldn't for the difference between the insurance company's date and the comparison site's date.

Waiting for the comparison site to get back to me, they are investigating.
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>> No. 6704 Anonymous
2nd November 2016
Wednesday 3:20 pm
6704 spacer
That is a fairly substantial difference. I can't see how it would affect the pricing, but clearly it does, and the alternative is that you take a chance on surviving to renewal without needing to call upon it. That's for you to weigh up, and I'd probably try and get some proper advice on it.
>> No. 6705 Anonymous
2nd November 2016
Wednesday 5:18 pm
6705 spacer
>I assume I messed up putting the numbers in the comparison site

No, this was clearly a computer error. You remember triple checking those details when you filled the boxes out -you even told me about doing it at the time!

Its those damn computers, did you know that automated systems are totally unreliable but sorting out the mistakes is cheaper than hiring humans. Not that we can believe the cheap data entry students they use aren't also error prone.
>> No. 6706 Anonymous
2nd November 2016
Wednesday 5:33 pm
6706 spacer
I can't tell if you're mocking me, in which case it would've backfired as the date that the comparison site had differed from that which the insurance company automatically generated anyway, or are suggesting what to say to them when they ring me back.
>> No. 6707 Anonymous
2nd November 2016
Wednesday 5:37 pm
6707 spacer
I'm suggesting you never admit to anything.
>> No. 6709 Anonymous
2nd November 2016
Wednesday 5:46 pm
6709 spacer
And yet those damn computers fucked up all the same.

>> No. 6681 Anonymous
19th October 2016
Wednesday 7:21 pm
6681 spacer
I browse the UK Personal Finance subreddit, they've recently put together a chart on what to do with your money.

A few of you lads seem better off financially than myself, so I wanted to post it up here for some criticism. What do you both think?
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>> No. 6691 Anonymous
19th October 2016
Wednesday 10:08 pm
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From the last thread I thought the official .gs advice was to spend all your spare money on takeaway pizza, never put any away in savings, and always act really surprised when anything goes wrong - at which point you should borrow money on the highest interest rate you can find because All Debt Is Good.
>> No. 6692 Anonymous
19th October 2016
Wednesday 11:13 pm
6692 spacer
No, the conclusion was that All Debt Is Bad. You should never get into debt for anything whatsoever. If your fridge breaks down and you can't afford to replace it you should go without and you shouldn't buy a house unless you've got the requisite quarter-mill cash on hand immediately.
>> No. 6693 Anonymous
19th October 2016
Wednesday 11:30 pm
6693 spacer
Wouldn't house prices crash down to okay-ish levels if everyone suddenly started following what you stated?
>> No. 6694 Anonymous
19th October 2016
Wednesday 11:39 pm
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Define "okay-ish". They certainly wouldn't drop to the point where you could pick one up for a few months' salary. London wouldn't be affected, given how many foreign investors using property to launder their profits from crime and corruption are effectively cash buyers.
>> No. 6695 Anonymous
19th October 2016
Wednesday 11:43 pm
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Well, a few reasonable multiples of the average yearly salary.

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>> No. 6473 Anonymous
28th July 2016
Thursday 3:56 am
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How do penions work once you retire? Using the last scenario here I have about a million squid accumalated, how is that then redistributed back to me?

Secondly, a million (on the high interest scenario of course) pounds seems like rather a lot. I have no idea what's a reasonable size pension pot though.
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>> No. 6474 Anonymous
28th July 2016
Thursday 7:14 am
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To be blunt, you're not going to be able to access your pension for 35 years. They're planning on changing the way you can take your pensions later this year, well the tax position on the way in and the way out, so fuck knows what it'll be like then. There's no way it'll be the same.
>> No. 6475 Anonymous
28th July 2016
Thursday 9:30 am
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Fuck me are pensions purposefully obfuscated so that nobody understands them ?

I only just started mine, paid in twice, for some reason my place of work puts in 100 pound a month and it all goes to some group called Blackrock who keep putting it in stocks.

I have no idea what the fuck is going on.
>> No. 6476 Anonymous
28th July 2016
Thursday 1:52 pm
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The rules are complicated and subject to change, but basically:

You can take up to 25% of the money as a cash lump sum and buy an annuity with the rest. An annuity is a bit like a reverse life insurance policy that pays out a fixed amount every month for the rest of your life.

The amount paid out by an annuity depends on the age at which you retire and your health. A £100,000 bought at age 65 currently gets you about £2,800 per year adjusted for inflation. That amount is likely to fall as life expectancies increase. Your million pound pension pot should provide a comfortable retirement, but it won't make you rich.

You can just take money from your pension fund (drawdown), but that's a risky strategy as you could run out of money.

>> No. 6677 Anonymous
8th October 2016
Saturday 10:34 am
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So I worked in the public sector for a year and got started on a cushy state pension. Now that I have left that position they've told me to transfer it. I have no idea what I'm doing. Though I read that if I join the public sector within 18 months I can go back onto the scheme.

Any advice? Besides go back into the public sector.
>> No. 6678 Anonymous
8th October 2016
Saturday 12:40 pm
6678 spacer
Blackrock are fine and the two payments are probably your payment plus the top-up from work. It's normal.

me irl.jpg
>> No. 6645 Anonymous
23rd September 2016
Friday 2:34 am
6645 Windfall
I've got £1000 to play with.

I'm a postgrad (Philosophy), living with parents. My dad is massively disabled, so, economically, I'm a househusband. I clean the floors, wash up the dishes, change the bedsheets, and look after my spazzy dad during the day (he shits himself, has lots of GP appointments, makes a mess when he demonstrates his autonomy ie tries to cook, and needs to be supervised). He really is like an infant, and I don't think other people understand the social dynamic when they criticise either me or my mum for the fact that I still live with my parents. It's as easy for me to move out and become a 'grown up' as it is for a housewife with an autistic child to divorce her working husband. I do the shopping, the driving, and look after my dad.

Anyway, one of my dad's pensions came through, and it's a windfall. I get no say in the matter, but I've been allocated £1000 out of the lump sum (£9000 total).

I want to break free without giving my mum (or, I suppose, my dad) a death sentence in the process (my mum's already had cancer, and I don't want to stress them). But it's totally not worth me spending £1000 on rent and bills, which will last a couple of months, while I look for a low-paying job just to 'stick it to mom n dad' when it really makes no sense at all, and is going to hurt everyone involved.

It seems that this £1000 is the best thing I have to create a new opportunity. It's not much, but I'm patient enough to invest it, or do something else with it that's not going to be a waste.

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>> No. 6654 Anonymous
23rd September 2016
Friday 7:37 am
6654 spacer
Also, there was something in the news about H2B ISAs and the government bonus only being available at the end of the property purchase, so it doesn't actually count towards the amount of your deposit. Something like that.

You may be better washing the money through a pension in your dad's name. If you get basic rate tax relief then that £1,000 is instantly grossed up to £1,250. You'd be eligible for 25% tax free, so that's £312.50. The remaining £937.50 would be taxable at your dad's marginal rate, so if his income is within the personal allowance that's the whole £1,250 tax free. If it'd all be subject to basic rate tax then that's £750 back from that portion, £1,062.50 in total. So it'd be worth doing if he isn't a taxpayer. Then you do it in your mum's name and that £1,250 gets grossed up to £1,562.50.
>> No. 6655 Anonymous
24th September 2016
Saturday 12:09 am
6655 spacer
£1000 is a good chunk of cash and putting it into a decent place is the right call if you can afford it. In the scheme of things, though, it's not much. Find an interest calculator (or learn to do it yourself) and try working out how long it would take to double the amount and you'll, in all likelihood, be quite disappointed quite quickly. The tone of your post, fortunately, shows you know this already. Your best bet for now is to park it somewhere that earns you above inflation and keep it as an emergency fund.

You can do yourself a favour though and learn how you could invest if you had more. Read up on the kinds of ISAs out there (cash, H2B, index) and the common conditions around them. If you have a couple of direct debits in your name, you play the account shuffling game (grab the sign-up bonus, cover minimum pay-in by shuffling money between accounts, have enough DDs to cover minimum reqs, e.g. by giving £1/month to a charity etc.) . MoneySavingExpert is a solid resource to get started and branch out from once you get past the odd lingo.

Bear in mind that the level of care you currently provide (live-in full time carer) is easily in the four figures/month if you had to pay someone else to do it, so unless you really can't or don't want to handle it any more you're doing a great thing for your family. The "don't want to" part was not a throw-away phrase, by the way: it's commendable what you do, but don't put the needs of others so far above your own that you drown.
>> No. 6656 Anonymous
24th September 2016
Saturday 3:11 am
6656 spacer
Some of the best stuff you can do with small quantities of money currently is just bog standard current accounts. First Direct offer a switching bonus plus a 6% savings account.

If you're still a student or graduate your best bet is to open a variety of bank accounts for future use.
>> No. 6657 Anonymous
25th September 2016
Sunday 8:16 am
6657 spacer
Looks like "green" from oak furniture land
>> No. 6658 Anonymous
25th September 2016
Sunday 9:33 am
6658 spacer
nah, Green's a shortarse.

>> No. 6630 Anonymous
21st September 2016
Wednesday 6:10 pm
6630 spacer
Hi, so basically I'm on the dole right now and have 4,000 in savings, under the threshold.

My parents gave me 6 grand and told me to fuck off out the house. I'm super frugal so while jcp sees massive savings I just see savings for my future/rainy day fund.

Problem is it's taken me over the threshold. Any advice how to obfuscate this cash or will I have to stash it under the bed or something?

I appreciate the help. No moralfags please... people are doing much worse things.
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>> No. 6638 Anonymous
21st September 2016
Wednesday 10:28 pm
6638 spacer
Just get a job lad.
>> No. 6639 Anonymous
21st September 2016
Wednesday 11:02 pm
6639 spacer
There is always that.
>> No. 6641 Anonymous
21st September 2016
Wednesday 11:54 pm
6641 spacer
You'll still be eligible for benefits with £10,000 in savings, they'll just reduce your payments by £16 a week. The reduction is £1 per £250 over the threshold.

Be careful about trying to conceal the savings, because they can prosecute you for fraud. JobCentre staff are looking for any excuse, because they've got targets to meet.

If your parents gave you the money in cash, then I'd suggest just stashing it under the bed. If they made a bank transfer, I'd gradually withdraw the money in dribs and drabs rather than taking it out as one lump sum. Think up plausible excuses for spending the money in case you're challenged about it.

Taking it out in one go won't help; they'll say that you "deliberately deprived yourself of capital" and reduce your benefit as if you still had the money. The burden of proof is on you to show that you spent the money legitimately, not on the Jobcentre to show that you've hidden the money.

You can see the full rules at the link below, if you fancy wading through 191 pages of bumf:

>> No. 6642 Anonymous
22nd September 2016
Thursday 12:11 am
6642 spacer
That's why you save money you knobhead.
>> No. 6644 Anonymous
22nd September 2016
Thursday 5:24 am
6644 spacer

In my experience this never happens. Touch wood, etc. I've made six figure sums disappear from right under the eyes of the benefits lot.

Your best bet is to put the money in an account of someone you know who works, or even better create a trustee account for a child and stash the cash there. Not even HMRC can take money out of a child's trustee account.

If you can't do that for whatever reason then as >>6637 suggests either buy gold (or better yet, silver) or just withdraw the cash and stash it in a safety deposit box or whatever.

The benefits savings policy is one of my pet hates, it basically incentivises those on benefits to fritter money away rather than save it, and it penalises the assiduous worker who diligently saves up rather than pissing their paycheque up the wall when he is inevitably laid off. Unemployment benefit in this country needs a completely rehaul.

>> No. 6548 Anonymous
30th August 2016
Tuesday 5:12 pm
6548 spacer
So my accounts were so terribly mismanaged by my (former) accountant for a company that stopped trading about a year ago, that I owe about double the tax I could if PAYE had been filed correctly (from about £3000 to about £6,000) and a whole host of late fees (since the first time I knew there was a problem was when an ominious must be signed for leter turned up from companies house, at an address I no longer lived at, as it never occured to them in the 3 months previous to the accountants to contact me at all).

Fired them and hired a new account with what little money I have left. I have have no source of income (not even benifits given I wasn't eligiable as still technically a company owner). And now have a company tax bill I have no hope of paying (given it is twice what I expected) due immediately.

Any suggestions to get the ammount reduced (since I can argue it was their fault my tax is so much), avoid it, delay it, or conjour up several thousand pounds out of my arse are welcome.
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>> No. 6554 Anonymous
30th August 2016
Tuesday 5:53 pm
6554 spacer

My accountant only worked out what I owe today, so I haven't had the chance yet. That is something they suggested, they also made what I could only presume were veild recomendations of how to avoid it.
>> No. 6617 Anonymous
19th September 2016
Monday 4:49 pm
6617 spacer
Once, I was so bad at jobseeking, let alone actually being employed, that they moved me from jobseekers allowance (JSA) to employment and support allowance (ESA). The rates were the same - I was under 25, so it was £127 or thereabouts, every fortnight. Then, one morning after a house party, with some solid friends and a bit of wishful thinking, I checked my bank balance. There was 1200 motherbloody pounds in there. Turns out on ESA, they actually give you more money for being crap at life, and the amount was £247 every fortnight, so they gave me a rebate without ever telling me anything about it.

Needless to say, I just lol'd at the free money and spent it all experience collecting, which is a trendy and vague way of admitting that I am a filthy drug addict.
>> No. 6624 Anonymous
19th September 2016
Monday 9:51 pm
6624 spacer
You are what is wrong with this country. You, old people who buy up properties and rent them out, bankers, and the Met.
>> No. 6628 Anonymous
20th September 2016
Tuesday 8:33 am
6628 spacer

Fuck off you wet wipe, I was signed off for 18 months due to illness, I just left that out because it wouldn't have been funny with that detail included. I'd worked from 16-22 without any period of unemployment, worked two jobs on numerous occasions for 6 months + at a time, and more than paid my way in tax to take the necessary time off without feeling guilty about it.

Had this been America, or had our system been different, I might have ended up on the streets and become a legitimate strain on society and caused far more cost, due to the higher rates of hospitalisation and perpetration/victim hood of crime that comes with that lifestyle.
>> No. 6629 Anonymous
20th September 2016
Tuesday 9:19 am
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That's a bit unfair on him, old people and bankers.

The question mark should be different.png
>> No. 6556 Anonymous
17th September 2016
Saturday 7:02 pm
6556 spacer
Are there any anonymous ways of basically shopping online? Something not too long-winded, simple, and not suspicious. I just want to buy dildos from ebay anonymously. Why is it so hard?
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>> No. 6622 Anonymous
19th September 2016
Monday 8:26 pm
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If you think that's disgusting, wait until you see their tax policies and treatment of workers.
>> No. 6623 Anonymous
19th September 2016
Monday 8:59 pm
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I'm the lad who suggested it. I've had mine for maybe four years now.
>> No. 6625 Anonymous
19th September 2016
Monday 10:40 pm
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>why is it so hard?

>> No. 6626 Anonymous
19th September 2016
Monday 10:46 pm
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Personally, I sympathise with OP and don't think he's necessarily a paranoid schizophrenic. Just start new eBay and Paypal accounts using false names but your real address since you said you wasn't bothered about them knowing your address. If you change your mind about the address you can always get a P.O. Box.

>After a mandatory sniff
This one made me chuckle. Never change .gs. Dildo Thief or Dildo Sniffer should be one of the default names in /iq/, we haven't had a new one in ages, since Auntie Fucker I believe.
>> No. 6627 Anonymous
20th September 2016
Tuesday 12:09 am
6627 spacer
Took you long enough.

>> No. 6536 Anonymous
21st August 2016
Sunday 12:52 am
6536 spacer
What happens if I take out a giant loan, give the money to someone else and then die? Assume I have no assets.
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>> No. 6544 Anonymous
21st August 2016
Sunday 1:53 pm
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Is this mistake of identity thing the same line of thinking as for an insurance front?
>> No. 6545 Anonymous
21st August 2016
Sunday 7:24 pm
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Nah its a different kettle of fish. Like >>6543 highlights the insurer will have included all sorts of clauses to ensure they don't have to later hand over the money whereas taking a mistake of identity angle money has already been handed over. Essentially if they haven't handed over the money they will tell your beneficiary to go fuck himself.

For example (and to branch out into another area which is why I'm terrible at contract law) those of you looking to front car insurance for your kids should be cautious as companies usually include a clause to say that any attempt to commit fraud to lower costs invalidates the policy if its not already illegal.

In terms of life insurance you also have to consider that a payout would go to your estate (its illegal to take out insurance on another persons life) so it would be possible as the money has not been handed over to claim it back.

If you would like to know more google Lewis v. Averay.
>> No. 6546 Anonymous
21st August 2016
Sunday 7:58 pm
6546 spacer
>its illegal to take out insurance on another persons life

Nope. Life of another policies. Also, life policies can be sold and traded on.
>> No. 6547 Anonymous
21st August 2016
Sunday 11:03 pm
6547 spacer
Looks like I was wrong. Still I think the point stands that it is immensely difficult.
>> No. 6616 Anonymous
19th September 2016
Monday 4:45 pm
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Right, OP, I am fairly (very) certain I know the girl in your picture and it's bothering me. Even down to the fact that she's hugging a Miliband, it's all too coincidentamental. And I know that I have people on facebook who use this site - but rules 1&2, IDST.

Did you? Did you do it? We know you did it. Put it back. It's creepy when it's someone you know.

>> No. 6520 Anonymous
12th August 2016
Friday 3:08 pm
6520 spacer
The Treasury’s Debt Management Office this morning sold debt at a new record low interest rate, underlining the massive appetite from investors for British Government bonds in the wake of the Brexit vote and sparking fresh calls for the Chancellor to take advantage by ramping up its infrastructure investment.

The DMO sold £850m of an index-linked Gilt (or bond) that matures in 2036 at a yield of minus 1.72 per cent.

When the price of a bond rises its yield (or effective interest rate) falls, meaning that investors paid so much for this particular Gilt that the yield turned negative.

The negative yield means the buyers are effectively paying the Government for the privilege of lending to it.


If people are paying to lend the country money is there any reason we shouldn't borrow shitloads and go on a massive spending spree
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>> No. 6524 Anonymous
12th August 2016
Friday 7:11 pm
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This is definitely a case of investors finding the UK irresistible and nothing to do with the Bank of England's new round of quantitative easing, right?
>> No. 6525 Anonymous
12th August 2016
Friday 7:49 pm
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My understanding is that people are buying bonds at a negative yield with the expectation that the Bank of England will buy them in future at an even higher price (and even more negative yield) as part of its quantitative easing strategy.

Somehow this is supposed to stimulate the economy...
>> No. 6526 Anonymous
12th August 2016
Friday 9:18 pm
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Some are. Many are put off by bond prices being low so they put their money elsewhere though.

The Bank just bought tonnes of government debt, freeing investors to put money in the rest of the economy.
>> No. 6527 Anonymous
13th August 2016
Saturday 8:16 am
6527 spacer

These gilt are mainly bought by very large investment funds such as pension funds as part of a hedge fund.

They can put so many millions into this knowing that they'll lose a couple of percent on it, but it will keep the total value of the fund higher if the stock market goes tits up in the future.
>> No. 6528 Anonymous
13th August 2016
Saturday 9:05 am
6528 spacer
I'm not entirely sure that's right. I've been in contact with a fair few fund managers post-Referendum and they've said they're not changing their stance on gilts because the market isn't big enough for them to take a significant holding in it, so the effects on their performance would be negligible, even when we're talking multi-asset funds in the old defensive managed sector.

The main holders are annuity providers and life offices, for solvency reasons, and final salary pension schemes to offset their liabilities. Oh, and fixed interest funds which specifically invest in gilts.

>> No. 6477 Anonymous
30th July 2016
Saturday 7:54 am
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I've read a few personal finance books now, people like Robert Kiyosaki and Alvin Hall. They're quite informative on topics like investment and retirement. I grant that the earlier you think about these things the better, but I wanted something directed toward younger people in their twenties and thirties, and came across Beth Kobliner.


It's US-centric, but most of the advice translates over well, and I very much like the direct, point-by-point style in order of priorities that she's given here.

Does /£$€¥/ have anything further I could read? Ideally with young British people in mind.
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>> No. 6478 Anonymous
30th July 2016
Saturday 6:13 pm
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This thread depresses me.
>> No. 6479 Anonymous
30th July 2016
Saturday 6:32 pm
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I'm the OP and I find the topic depressing sometimes, but maybe for different reasons.
>> No. 6480 Anonymous
30th July 2016
Saturday 9:01 pm
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Is there anything in particular you're after and have you tried websites like Monevator?
>> No. 6482 Anonymous
31st July 2016
Sunday 6:35 pm
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Monevator has some good articles, thank you for that. I don't have anything more specific than 'financial advice for young British people' in mind.
>> No. 6483 Anonymous
31st July 2016
Sunday 10:28 pm
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I know .gs doesn't really think much of Reddit as a whole, but I have been finding /r/UKPersonalFinance quite informative so far.

>> No. 6468 Anonymous
27th July 2016
Wednesday 9:27 pm
6468 contractor or employee
Apologies in advance for the stupid question. So I have an internship these days where I'm getting a fixed amount of money in the end.

The boss initially had said 'the simplest way to do it would be make you contractors' but later changed his mind and said he wanted us to be employees for the duration on some 0-hr contract or whatever for NDA reasons - but he himself doesn't seem too sure either.

Provided the fixed sum I'm getting is guaranteed by another, already-signed contract, would it matter whether I'm a contractor or not in terms of the taxation on my wage? It's £2000 and I have no other income so I'm hoping it's under some sort of threshold.

Being a foreignlad I am terribly unversed in these things and couldn't find anything comparing status between the two so if anyone has been through something similar it would be greatly appreciated.
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>> No. 6469 Anonymous
27th July 2016
Wednesday 9:59 pm
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> It's £2000 and I have no other income so I'm hoping it's under some sort of threshold.

There is a personal allowance of £11,000 per year. If you earn less than that amount, you pay no income tax.

When you receive your pay slips, check to see if income tax has been deducted. Your employer may have applied the wrong tax code and deducted tax that is not owed. If it has, you will need to notify HMRC (the tax collecting agency) to reclaim the overpaid tax.


If you earn more than £155 per week, you will have to pay National Insurance. This will be automatically deducted from your pay. You pay 12% of anything you earn over the £155 threshold.

The benefits and disadvantages of self employment are quite complex. Unless you are earning more than about £20,000, the amount of tax you will pay is roughly the same. If you are self employed you will need to complete a Self Assessment tax return at the end of the year, or pay an accountant to do it for you. Most employed people do not need to complete a tax return, because their taxes are automatically deducted by their employer.
>> No. 6470 Anonymous
27th July 2016
Wednesday 10:14 pm
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Foreign? If you need a visa to keep working here, then maybe it would be best to be employed by your employer, rather than being a self-employed "contractor" offering services (work).

Being a contractor is shitty unless you are earning silly money.
>> No. 6471 Anonymous
27th July 2016
Wednesday 11:28 pm
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>If you earn more than £155 per week, you will have to pay National Insurance. This will be automatically deducted from your pay. You pay 12% of anything you earn over the £155 threshold.

Ah, and this is regardless of whether I'm a contractor or employee, right?

It's a short summer stint and it won't turn into a real job after it's done since they can't sponsor me even if they wanted to keep me. So it won't matter I guess.
>> No. 6472 Anonymous
28th July 2016
Thursday 1:07 am
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>Ah, and this is regardless of whether I'm a contractor or employee, right?

If you're an employee, it's automatically deducted. If you're a self-employed contractor, you have to pay it yourself.

The national insurance rules for self-employed people are a bit more complicated and have some useful loopholes, but they're not worth worrying about unless you earn enough to hire an accountant.

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>> No. 6287 Anonymous
16th May 2016
Monday 11:12 pm
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That thread about the Scottish guy who trained his girlfriend's dog to be a Nazi got me thinking. He was working in a call centre, a minimum wage (or close to minimum wage) job, but he seemed like he was living an independent lifestyle.

As a fairly sheltered Londoner this makes me wonder: are there actually places in this country where one can live independently and reasonably well on the minimum wage, or a smidgeon above it?
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>> No. 6463 Anonymous
21st July 2016
Thursday 8:52 pm
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Gozo ain't Malta lad.
>> No. 6464 Anonymous
21st July 2016
Thursday 9:50 pm
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Malta refers to both the island of Malta and the nation of Malta, of which Gozo is a part.
>> No. 6465 Anonymous
22nd July 2016
Friday 6:23 am
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"Gozo" in Portuguese means spunk. I've always found that funny.
>> No. 6466 Anonymous
22nd July 2016
Friday 7:20 pm
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> Are you already in Malta? How are you finding it?

I am not there yet. I will arrive in the middle of August.

> I've been looking into rental prices in Malta and it seems that you can rent a 1-2 bedroom flat in Gozo for around 200-250 euros a month...

Gozo seems much cheaper than the mainland. I am looking at 1-2 bedroom flats near the centre of Malta proper (i.e. close to the jobs) and there doesn't seem much available for less than 600 euros a month. Also, food seems a bit cheaper than the UK, but not much - it is mostly imported and Malta does not have the large population that the UK has to bring the cost down. Cars are also very expensive (due to import taxes), yet everyone has one because the public transport is unreliable and it is not safe to cycle.

Luckily I am not moving to Malta for the money, and I should be earning enough to be comfortable anyway.
>> No. 6467 Anonymous
22nd July 2016
Friday 8:03 pm
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Go and convince them to have another referendum on becoming part of the UK.

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>> No. 6447 Anonymous
28th June 2016
Tuesday 12:05 am
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Can I still make loadsamoney out of the Brexit brouhaha or did I miss the boat?
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>> No. 6448 Anonymous
28th June 2016
Tuesday 12:26 am
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Yes, let me share with you my information on how to make money from it.
>> No. 6449 Anonymous
28th June 2016
Tuesday 12:30 am
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It depends, do you have a glove thick enough to protect your hand from a sharp knife? Do you have steel-toe boots?
>> No. 6450 Anonymous
28th June 2016
Tuesday 12:39 am
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Get some Brexit t-shirts and sell them from a van.

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