The £ in your pocket...

[StanleyB]

Anyone noticed how far the £ goes these days? I was shocked to find that £60 of petrol lasted just a week after my wife borrowed my car to do the school run whilst her car was in the garage. If we only had my car for use, that would be a whopping £240 a month :eek:.

I decided to plan ahead and start putting aside money for the winter gas and electricity bill. It works out that I have to save about £150 every month, or £5 a day.

I used to enjoy a steak once a week. But my wife pointed out on a recent shopping trip that a packet of 4 steaks is now around £25, and it isn't even matured Aberdeen Angus. So now it is just once a month for my steak and chips I am afraid.

But from a business point of view, the volatile currency market and high banking transaction costs are a killer right now. The £ is again slipping on the currency exchange, which is affecting the landed costs of imported goods. Just when electrical sales are low, importers are facing a possible increase in their buying prices. Looks like hard time ahead for the electronic goods sector outside of the iEVERYTHING buyer :rolleyes:.

[Beechwoods]

Lindsay Lohan has it right...

http://i560.photobucket.com/albums/ss49/aos_images/beechwoods/lohan_tweet.jpg

Thanks to Guido Fawkes (http://order-order.com/2011/06/28/inflation-outlook-lindsay-lohan-on-monetary-policy/) for the tip... :)

[Effem]

I think our government is over the moon right now diverting everyone's attention away from other pressing matters with the nefarious misdeeds of Mr Rupert Murdoch. "I will clean up politics" said Mr Cameron as I recall and it's running close to the wire whether or not some dirty laundry comes to light that Mr Cameron once wore.

Oh and a mere £2 trillion quid of debt is a serious issue being masked very nicely by the smoke from the fire as Murdoch's arse is being slowly roasted.

[Pete The Cat]

I find it hard to recognise some of the coins in my pocket now with so many versions / designs and sizes of the same coin - it's no wonder there are so many counterfeits in circulation.

Back on the point, the price of filling a tank of fuel now is breathtaking.

Pete

[colinB]

I supply fancy womans beauty products in my store, some form the States and some form Europe. The European products have gone up 40% in the last 6 months.
I was hoping for the "lipstick effect" to carry me through the recession but im not so sure now.

[nat8808]

Answer is, don't keep your money in paper currency!

Whilst paper currencies loose value against the things your want to buy, e.g. oil, food, other energy, other resources etc. Gold for example has been holding value all this time, if not actually the case that things priced in gold are now cheaper as they should be.

It's not about things getting expensive, it's about your favourite paper currency going down in value, be it £, $ or € against things you want to exchange it for.

Most people can't see the wood for the trees because we only experience the one currency around us and culturally (as is the case in every country really) paper money is REAL money whereas in fact it is still only an abstract concept of comparative value.

If you earn money like Stan, then you can try to get paid by customers in other ways for example via Bit Coin or even in silver or gold via online silver/gold equivalent currency like goldmoney.com. You're payments would ride all the price increases and paper currency devaluations until the point that you change it up to £s for normal useage.

Unfortunately though I spose, most people's earnings all get used up whether just by the cost of living or into a massive debt pay off like a mortgage.

[Neil McCauley]

Lindsay Lohan has it right...

http://i560.photobucket.com/albums/ss49/aos_images/beechwoods/lohan_tweet.jpg

Thanks to Guido Fawkes (http://order-order.com/2011/06/28/inflation-outlook-lindsay-lohan-on-monetary-policy/) for the tip... :)

You're assuming of course that she conceptualised this rather than a PR company. What next - LL on University Challenge?

[HighFidelityGuy]

Hi Nat, goldmoney.com interests me. Is the basic idea behind it that you transfer some money to them, they buy gold for you, you pay for them to store it for lets say a year. Then after that year you hope that the amount that the gold has gone up in value outweighs the amount you've lost in storage/transfer fees? So it's a bit like investing in gold on the stock market but with less risk? Have I got that right? :scratch: