How save are our savings?

I think it all depends on the country you live in. I feel it's save to put my savingsin a bank because they're not going down one by one like it's happening in America right now. Their condition is fairly good so I think only those who want to borrow money from them will have problems. Banks right now won't give away their (or shoul I say our :P) money so easily. But I definitely won't invest in investment funds:/ I lost 20% of my money last time and I'm not gonna make that happened again:/

I'd still feel safer putting it in the bank than stashing it away at home! What do you do instead? Do you spend, spend, spend the money in the bank or continue saving, do you find somewhere else to put it, but gamble on investments and stocks and shares? I guess if you leave it in one place you are asking for trouble, not to have too many eggs in one basket is the trick, spread your savings out over a number of different ways that way if one goes bust you don't lose the lot!

This is one of the major contributors to massive downturns in economies at ground zero ronaldinu. People panic and start withdrawing their investments left right and centre and a domino effect kicks off. The reality is that if you do your homework and seek to secure your money with financial institutions with solid track histories and benefits such as insurance etc then there is absolutely no reason to NOT keep your hard earned money invested. The key is always in diversity anyway. Managed or mutual funds are always the safest bet to ensure that you spread the risks.

I think this is a problem for us all, but the only alternative is to draw out cash and stash it under the bed or somewhere. Most governments are now giving back-up to people's savings, so I think we all need to trust again. It is only when people start trusting again, will this crazy situation with our finances become easier. It is a matter of confidence as it is the lack of confidence is holding things up. That's what I believe anyway..

It's very hard to feel safe about anything these days. Our Prime Minister (in Australia) put out a press release this evening to say the government would guarantee any savings in Australian banks, building societies and credit unions for the next three years. I suppose that's supposed to make us feel relieved.

At this time, investing money in any field is not advisable. With the money value fluctuating dangerously, it is wise to stay for sometime before any kind of investment. I don't feel safe investing money in bank. In fact can't see, where to invest now!? The banking collapse occurred by whoever, the common man has been the one to suffer a lot. Price raise on commodities will be the next step taken by govt to tackle the situation.

It worries me alot to keep my money in one. I have money in mine but I am seriously thinking of taking it out and just using my money box. I like the idea of having an account though but with things like this going on it makes me wonder what is going to happen next and will my money be safe.

How are the banks in Malta doing? I live in Canada, and our banks have not taken much of a hit in the poor economy. As a matter of fact, we've hardly noticed the recession up here. The great thing is that my husband and I don't have a lot of money to begin with, so we don't have that much to lose. LOL

here all bankdeposits are secured by the government - or not all. 2 million kr pr bank pr citizen. That is about 240.000 euro. The money in my savingsaccounts is safe.

Surly not, in such a scenario, I'd have preferred to bu gold from my savings instead of putting in some bank.

I think that our savings are quite safe in our banks since our banks here are quite regulated and we're not as sophisticated when it comes to money market as in those in the US -- which is our good point. I also believe that most of our banks (except for some, according to grapevine like BDO and metrobank) have not invested so much to those banks involved in the US. Gosh, the US financial crisis is boggling most of us already. But according to Mareng Winnie Monsod, as typical Juan dela Cruz would not affected in terms of the savings because most Juans do not have such access to those big banks. But I guess, many of us here have access to insurance which involved those big bank companies. I am confusing you already na.

no, thats why i keep most of my money under the mattress not really, but i dont have much money to worry over.

hi ronaldinu, well what ever money i have is in State bank Of India and if it fails then govt of India fails and we Indians are still not in to recession we got 7% growth still so i dont think my money is not safe in this. And anyways the money in this bank is secure and Govt of India does back this security.

I save some in an online financial institution where am being paid 1.9% per day of my investment..So I think is a good way to invest..

I think it depend to the place, like here in kuwait we can say they have a good income, god ive them the best for thier income not like other specially philippines we have everything but they keep on cheating so no any goodthing happen except they found oil in the country. hoping cross my finger it will be good to start again.

These days, I don't think I trust anybody. I don't know if I should take my savings out of the bank but if I do, I will lose the interest on them and if I don't, then I could lose my savings. I am told that the post office is the most secure place to save but they don't pay as much interest. I certainly don't want to keep my savings under my bed so it is difficult to know what to do.

gold! yes, bar gold, it will stable all the time, I proved.

I never trusted banks. I usually use credit unions. I dont trust them much either. They do not charge for using atm cards or for writting checks. I usually just put in there what i need to pay my online bills and such. If i plan to buy online. I have a secret cash stash that only my daughter knows where. I also trust her with my credit union details. She buys books there after putting money in for her purchases.

no my husband is not feeling safe at the moment.its very dramatic world wide problems.

in india, no problems