True.  I personally dont think £300 is a lot of money but I appreciate that its a lot to someone in India.  If I lost £300 Id be a bit annoyed at myself but dont think it would really bother me beyond kicking myself for being stupid.

I did however assume we were talking about professional people who could afford to spend money picking a high end mobile phone.  The same person spending £300 on food for a family of 4 is never going to be in this market (or this thread).

edit: and frankly people who are fussed about £300 arent going to have enough investment or savings for any of this stuff to make the slightest difference.  People with $30k+ savings are.

First of all #300 is a lot of most people. While we all wouldnt have to sell our shirts we damn well would be pissed off. I get pissed off if I spend #2 I dont have to.

And secondly, Nige said it was a lot of money, and that is unrelated to the topic of 30K savings.

Shrewd people that mind their money are usually the ones that end up in the situations of having lots of the stuff. Those that arnt froogle and spend it with disregard never have a pot to piss in. Anyone okay with writing off £300 doesnt appreciate the value of the stuff.

Its not a trivial amount but I still dont think it would count as a lot of money.  I know people have different living costs/expenses.  I think Ill never convince you its not a lot of money and youll never convince me it is.  As everyone has different levels of what they consider a lot of money.  I think were getting off topic tho.  I said inflation f**ks you.  you said 30k is a lot of money (which it is and makes you more vulnerable to inflation) and then you asked to be sent £300 for no reason.  Youre the only one who brought it up...

And tbh I just dropped £100 on rubber ducks this afternoon for a laugh with a mate (www.justducks.co.uk).  I dont consider that a lot of money and I get nothing for that other than a laugh when she opens a box full of ducks and thinks what the hell?


The point is you made two statements:

1) people shouldnt expect banks to be free - I tried to explain they are charging you and even told you how it was broken down.  If you pay a fee for banking then you get more interest by about the same amount.  No fee, they decrease your interest by that amount.  Thats not free.  you didnt comprehend that.

2) Your money is totally safe in a bank.  but its not - its only guaranteed by the fed printing money.  the US is going into (or already in) a recession.  Their printing cash cant be sustained by the real economy which means theyre devaluing the cash in circulation.  This is called inflation.  The more savings you have in banks, the more cash you will lose by not changing your investment vehicle out of cash.  This only affects people with a reasonable amount of cash in savings.  Anyone with decent chunk of savings isnt going to notice £300 in any real way.

The people posting here and saying oh my gosh, £300 is life changing for me are totally right.  But they arent the ones with the savings who need protecting and at risk from inflation.  So kind of irrelevant to the effects and just protesting because they feel affronted that £300 is a lot to them and its being dismissed.

Devaluing <> inflation, they are two separate processes.

Its not a trivial amount but I still dont think it would count as a lot of money.  I know people have different living costs/expenses.  I think Ill never convince you its not a lot of money and youll never convince me it is.  As everyone has different levels of what they consider a lot of money.  I think were getting off topic tho.  I said inflation f**ks you.  you said 30k is a lot of money (which it is and makes you more vulnerable to inflation) and then you asked to be sent £300 for no reason.  Youre the only one who brought it up...

And tbh I just dropped £100 on rubber ducks this afternoon for a laugh with a mate (www.justducks.co.uk).  I dont consider that a lot of money and I get nothing for that other than a laugh when she opens a box full of ducks and thinks what the hell?


The point is you made two statements:

1) people shouldnt expect banks to be free - I tried to explain they are charging you and even told you how it was broken down.  If you pay a fee for banking then you get more interest by about the same amount.  No fee, they decrease your interest by that amount.  Thats not free.  you didnt comprehend that.

2) Your money is totally safe in a bank.  but its not - its only guaranteed by the fed printing money.  the US is going into (or already in) a recession.  Their printing cash cant be sustained by the real economy which means theyre devaluing the cash in circulation.  This is called inflation.  The more savings you have in banks, the more cash you will lose by not changing your investment vehicle out of cash.  This only affects people with a reasonable amount of cash in savings.  Anyone with decent chunk of savings isnt going to notice £300 in any real way.

The people posting here and saying oh my gosh, £300 is life changing for me are totally right.  But they arent the ones with the savings who need protecting and at risk from inflation.  So kind of irrelevant to the effects and just protesting because they feel affronted that £300 is a lot to them and its being dismissed.

No one is saying that £300 is the sum of a lifes work.
We are merely saying that we dont know anyone who is rich enough to go sod it its only £300 and not care at all.
If I lost a ten dollar bill from my wallet Id be pissed off but its not like I cant afford ten dollars.

2) Your money is totally safe in a bank.  but its not - its only guaranteed by the fed printing money.  the US is going into (or already in) a recession.  Their printing cash cant be sustained by the real economy which means theyre devaluing the cash in circulation.  This is called inflation.  The more savings you have in banks, the more cash you will lose by not changing your investment vehicle out of cash.  This only affects people with a reasonable amount of cash in savings.  Anyone with decent chunk of savings isnt going to notice £300 in any real way.

My money is TOTALLY safe in a bank and let me explain to you. The only way I am not going to get my money back if my bank collapse is if the entire financial system collapses around it. And if that happens I wont have to pay back my mortgage will I.

Therefore Id be quite happy to lose x when I owe 5x.

As with the UK government backing the banks here the US does the same there, if they didnt then the result would be a massive meltdown of the financial structure when something like the present sub-prime lending crisis happens. That would lead to a worldwide depression. Banks are effectively guaranteed to be a safe bet to put your money into.

This is not the same as owning shares in banks, those can go caput, its just that others will take over. Even if Sams bank collapsed his money would be still there, because its loaned out to other people and guaranteed by the government. Same as his mortgage, he owes debt on it, that can be traded if the bank collapses to another lender, and that money would pay back those who had lent the bank.

The one issue on this is a run on the banks, where a lot of people lose confidence and begin withdrawing all their money. Usually the bank(s) in question will pay out as much as possible and then close their doors. The bank hasnt gone bankrupt, the peoples money is still there, just as debt owed by others. The bank has no actual cash left to pay them though.