Euro crisis...should i empty my bank account?

Richard Dower · 21-11-2011 08:53AM #1

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

galwayrush · 21-11-2011 08:59AM

I have a special safe account. you can lodge it there.:cool:

Columbia · 21-11-2011 09:06AM

I have an account outside the eurozone, your money is safe with me. Safe as houses.

Duggy747 · 21-11-2011 09:12AM

I have a mattress where you can safely store your money.

Smells a bit but the money should still be legal tender......hopefully.

UglyBolloxFace · 21-11-2011 09:19AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

You have 100k in savings?

zenno · 21-11-2011 09:21AM

I install titanium safes for people that cannot trust the banks anymore at a reasonable cost. if you are interested pm me for more information.

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Snakeblood · 21-11-2011 09:22AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

The little guy seldom has 100 large in cash lying around. You're medium, friend. NTTAWWT.

steve9859 · 21-11-2011 09:26AM

No harm in opening an account in the UK to hedge youir bets. HSBC let you open an account with an Irish address and an irish utility bill - I dont know if the other banks do. I opened one 3 years ago and moved across part of my cash (well before I decided that I was going to move to London). Personally I think you are taking a big risk not doing that - I wouldnt like to have all my eggs in the Euro basket right now. Actually I dont understand why anyone would not open a UK bank account

stupidusername · 21-11-2011 09:35AM

Not much point in having it in cash if the currency itself is going

But then you're probably trolling mentioning you have that much money

summerskin · 21-11-2011 09:35AM

UglyBolloxFace wrote: »

You have 100k in savings?

it's not that uncommon, many of us do.

problem with a UK account though is that the bank guarantee there is only £50k.

uncle_sam_ie · 21-11-2011 09:40AM

I would talk to a money manager and convert that euro into something safer.

Ghandee · 21-11-2011 10:02AM

I'm just gonna withdraw my hundred euro savings and buy 2 bags of weed.

at least I'll be stony broke then!

Crazy Horse 6 · 21-11-2011 10:04AM

I have a Canadian bank savings account. Would'nt trust a European bank at present i'd say it's 50/50 to see if the euro survives.

TheZohanS · 21-11-2011 10:04AM

I'm worried about my mortgage...I mean if the euro is worthless then my loan will be.....*gulp*...

Galtee · 21-11-2011 10:15AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

Relax, regardless of what happens the Euro, monopoly money won't be affected.

chin_grin · 21-11-2011 10:18AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

Bragging much?

2 stroke · 21-11-2011 10:37AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

You have 100k? Sounds like you've already buggered the little guy.

El Horseboxo · 21-11-2011 10:43AM

100 grand ain't that hard to amass if you were single and living at home and had a decent job all through the boom years. I've a few mates that would've had over that amount based on the about criteria. 35k jobs a year for a number of years and feck all overheads. Quite easy to squirrel away 20 grand a year.

zef · 21-11-2011 10:43AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

You are no 'little guy' if you have 100k in savings.

heyho11 · 21-11-2011 10:55AM

your in luck ... i just recivied an e-mail from a prince in nigeria who has a way of not only helping you save your money but making some extra.
pm me for contact details.......oh and 10% advice fee to me....good advice costs lol

El Weirdo · 21-11-2011 11:00AM

"Oooh, look at me, I've got 100k in savings and I need to tell all the little people on the internet how brilliant I am."

GTFO. Absolutely no fucking need to mention how much money you have in your savings.

Hobbes · 21-11-2011 11:04AM

summerskin wrote: »

it's not that uncommon, many of us do.

Many people live day to day and lucky to have 1K in the bank.

OP - I have to ask though, if you have over 100K how did you get it?

Considering you are asking for stupid money advice on a forum known for giving sound advice in the same way a dehydrated jellyfish gives dating advice, I can only assume your parents gave you the cash.

gbee · 21-11-2011 11:09AM

Gold.

The Euro will collapse and the first thing to happen will be the striking of a new Euro for those three countries reaming inside it.

All current notes will be non legal tender. This will happen more or less overnight.

rsole1 · 21-11-2011 11:13AM

Richard Dower wrote: »

Is it time yet?...i'm not keen on the idea of having over 100k in notes, but the way things are going it might be wise to stuff it under the matress. Lets face it....if it goes pear shaped it's the little guy who'll get bugger all

I have taken out my 30k and have it secreted around the house in 2k amounts. Have been collecting 500, 200, and 100 notes and when it's in large notes it really doesn't look like much.

I may be acting irrationally and paranoid by doing this but I don't want to end up with 15,000 New Punts for my 30k euro because if left in the bank this is what would happen.

phasers · 21-11-2011 11:18AM

I think you should emigrate Richard, I really do.

summerskin · 21-11-2011 11:20AM

Hobbes wrote: »

Many people live day to day and lucky to have 1K in the bank.

I have to ask though, if you have over 100K how did you get it?

Considering you are asking for stupid money advice on a forum known for giving sound advice in the same way a dehydrated jellyfish gives dating advice, I can only assume your parents gave you the cash.

i didn't ask for advice, that was the OP.

I bought my house in central london before the housing boom and sold it before the crash making £168k profit.

foxyboxer · 21-11-2011 11:23AM

El Horseboxo wrote: »

100 grand ain't that hard to amass if you were single and living at home and had a decent job all through the boom years. I've a few mates that would've had over that amount based on the about criteria. 35k jobs a year for a number of years and feck all overheads. Quite easy to squirrel away 20 grand a year.

Precisely. It's when you have a significant sum of savings that the euro crisis becomes very interesting.

steve9859 · 21-11-2011 11:24AM

gbee wrote: »

Gold.

The Euro will collapse and the first thing to happen will be the striking of a new Euro for those three countries reaming inside it.

All current notes will be non legal tender. This will happen more or less overnight.

Only if you buy the real thing and stick it away in a safe. If the sh1t hits the fan, I wouldn't be exactly confident of an investment in some gold index, where all you have is a piece of paper saying you own some virtual gold, and some broker who may or may not survive

jester77 · 21-11-2011 11:33AM

I'm in the same situation as you OP, was reading through some older threads here looking for advice and the common consensus was to buy property as the prices will only go up and you can't lose. You can't go wrong there OP

cena · 21-11-2011 11:33AM

what I would like to know is sort of job have you richard that you have that much in the bank

foxyboxer · 21-11-2011 11:33AM

Hobbes wrote: »

Many people live day to day and lucky to have 1K in the bank.

I have to ask though, if you have over 100K how did you get it?

Considering you are asking for stupid money advice on a forum known for giving sound advice in the same way a dehydrated jellyfish gives dating advice, I can only assume your parents gave you the cash.

Full Time Job (say 35k industrial wage) + Frugality + Living within your means + No Debt + (Modest) Inheritance possibly + Interest on Savings + No spouse + No Kids + Time = Circa 100k in savings easily.

Euro crisis...should i empty my bank account?

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