Finances & savings - No deal Brexit

[HowtoPrepare]

Any suggestions on how to weather the possible Brexit storm? For money, savings and investments.

Have lots? I don't really have any great advice, but to try to be as debt free as possible will surely help. Keep at least some cash handy in case there's ever trouble with banks and ATMs, and you struggle to use your cards.

I've started trying to put a little bit more into my savings account lately, and bought my very first bonds, but that's not really Brexit or prepping related. I'm just aware that shit might happen in more ordinary ways, and no one ever regrets having saved a bit?

I have an account and happen to own some property (inherited) in an EU country, and I do wonder how this will all happen. I don't have foreign savings, but I do need to pay foreign property taxes etc. At the moment I'm just waiting to see what actually happens, and I guess will try to sort stuff out as and when I need to. It's already confusing, with my non-UK bank insisting on me sending my "UK TIN codes" to them, which the UK does not use even now.

Would changing money from pounds to euros or dollars be a good idea?

We are taking some more out to keep as cash but otherwise nothing planned. We did pay off our mortgage though this year so that we were in a more secure position with the house.

It is hard to predict what will happen which makes planning very difficult.

Exactly Howto it’s impossible to prepare fully for a largely unknown situation. I’ve opened a Euro account, with a view to transferring some of my savings, but really don’t know if it’s going to be the right thing to do.

I know from personal experience of living in an actual collapsed economy in another country that currency speculation is a mug's game.
I am slowly slowly building a small buffer of cash at home but only with a view to being able to buy a small amount of essentials . My aim is no more than £200.
We are planning to go to Crete in May/June and I will probably get some euros in cash for that before Brexit. But I could get stung by a dead cat bounce where the pound gets artificially stronger.
Again, I think it's a mug's game to do too much speculating (literally and metaphorically).

I have some ones into a Euro account with the aim of hav8ng my sav8ngs in euros rather than pounds.

BUT and it’s a big but, I have a strong relation with some EU countries which means that I’m likely to use that money in euros anyway.
I do think the pound is going to go down hill. But again by how much is hard to decide (I’m surprised for example, that it hasn’t dived down more than it has already). Speculating on the pound crashing or not at this moment in time maybe not be the post appropriate.

It’s really hard to predict what will happen financially, so I’ve sort of planned for the ‘worst case’ situation. If I’m wrong, then I’ve lost out on a few quid. If I’m right, I’ve possibly saved our home.

We were due to remortgage at the end of last year (we were at the end of a deal) and despite really low interest rates, I’ve gone for a fixed rate mortgage for the first time ever. I have a strong suspicion interest rates will rise to keep a lid on inflation and the £ tanking. I’ve renewed my energy deal too, at a fixed rate. I don’t have investments other than property, and the consensus seems to be house prices will crash, but my thinking is that as long as I can keep up mortgage payments then I can weather that storm.

Digging up an old thread, but would people recommend trying to build up as big a savings buffer as possible? We usually overpay £100 a month on the mortgage but am wondering if that would be better saved.

I'm a keep it simple kind of person. Paying down the mortgage seems like a sensible thing to do if your budget can stretch to it.
Obviously everyone is different and has different needs and financial obligations.