Do we have a practical thread about this? As in what precautions people are taking?
Basically I have paid down as much debt as possible, e.g. all my credit cards, a chunk off the mortgage - that sort of stuff...
Savings are essentially ****ed because of the interest rates, though I'm lucky to still be paying £500 a month into a 12% interest account that is due to mature in June or July, I forget which. Other than that, I have a chunk of change in a high interest current account (again fixed for another 6 months or so), and a diversification into Gold, which was doing really well until recently, but was also a hedge against the falling £ - though that has been rallying.
I've got (had!) a 5 figure sum in ISA trackers, which I decided to leave to weather the storm before it was clear just how tits up the global economy was. Luckily it is Euro stuff which has been less badly affected - but I am too scared to see by how much it's fallen (I'm guessing about a third)...![scared](https://apolyton.net/core/images/smilies/scared.gif)
Finally, I have a bunch of money in a number of specifically picked shares that I think will be insulated from the current goings on and actually take advantage of the current climate.
One just spiked +52% by close of business today (ahead of a certain Ford announcement this evening US time regarding the upcoming Chicago Auto Show)...![Cute....](https://apolyton.net/core/images/smilies/cute.gif)
This might just be the auto equivalent of Google guys!
Basically I have paid down as much debt as possible, e.g. all my credit cards, a chunk off the mortgage - that sort of stuff...
Savings are essentially ****ed because of the interest rates, though I'm lucky to still be paying £500 a month into a 12% interest account that is due to mature in June or July, I forget which. Other than that, I have a chunk of change in a high interest current account (again fixed for another 6 months or so), and a diversification into Gold, which was doing really well until recently, but was also a hedge against the falling £ - though that has been rallying.
I've got (had!) a 5 figure sum in ISA trackers, which I decided to leave to weather the storm before it was clear just how tits up the global economy was. Luckily it is Euro stuff which has been less badly affected - but I am too scared to see by how much it's fallen (I'm guessing about a third)...
![scared](https://apolyton.net/core/images/smilies/scared.gif)
Finally, I have a bunch of money in a number of specifically picked shares that I think will be insulated from the current goings on and actually take advantage of the current climate.
One just spiked +52% by close of business today (ahead of a certain Ford announcement this evening US time regarding the upcoming Chicago Auto Show)...
![Cute....](https://apolyton.net/core/images/smilies/cute.gif)
This might just be the auto equivalent of Google guys!
![EEK!](https://apolyton.net/core/images/smilies/eek.gif)
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