Spend or save?

[Mikey]

It's fair enough to buy something which you will use or to modify your house in a way to get better use of it but I fail to see the point in spending money for no good reason, regardless of how much you have.

You can spend on your home in this current climate, just as a means of standing still value wise, and it would still be a safer investment than leaving it in the banks. I've never had the pleasure of owning my own home in a recession before so this is all new territory for me, made all the more nerve wracking by setting up my own business aswell (I must be mad).

I think matt is really lucky to have a good SVR with his bank, the last time I checked mine (this week), it was still around 5.5%, banks seem to have passed on the interest cuts for savers, but not for lenders. mmm....how much of the banks do we actually own these days again?