Nicely relaxed

This last week has been a mighty fine one for me. Nice little break in Devon with friends, A week off work, my birthday (don’t ask how old – I forget nowadays) AND the FSCS gave me back the savings that were in limbo after the economic collapse in Iceland. A great week indeed.

That last one has left me in a bit of a quandary actually, and it looks like I’m not the only one. I mean last time I went out my way to track down a good saving account that seemed to tick all the boxes when it came to my requirements and what did that get me? The whole country that owned the bank virtually collapsed and my money went missing for 2 months. Could have been worse but seems like the interest I lost over that missing period probably about equals the extra I got for choosing a high interest account – ie. I wasted my time. Now that interest rates are dropping like a stone, I’m not sure I can be bothered finding a new home for what savings I have.

I considered getting some premium bonds but after looking at the odds, I’d be getting about half the extra money in prizes won as I would from simple interest in a standard bank account (virtually no chance of winning anything other than £50 for any given win). I do wonder if they would look better if the interest rate fell even more?

Then I thought about something a little more risky – shares! Prices may have crashed recently (the fact that my shares ISA is only worth 2/3 of what it was a year ago tells me that) but that could be a good time to pick up some bargains and have a bit of fun. Of course I know bugger all about buying shares and I’m not stupid enough to throw my money away but what I do have is a little left over from the inheritance left to me by my gran.

She didn’t leave me that much and I made myself the promise I’d blow the lot having a good time in her memory. I spent most over the last 18 months (having a good time with it doesn’t meaning throwing it all away in one go) but there is still a little left. On top of that, the money came from the sale of shares my grandad bought over many years. Almost seems right that I should use that money to buy a few new ones.

So I signed up here – a site that lets you trade with virtual money but is based on actual share prices in the real world. If I can go a month or so and not have lost everything, I might consider myself ready to try it for real. Then I just need to find an online broker.

I’m gonna be skint aren’t I…

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